Truist Financial Trims Cross Country Healthcare (NASDAQ:CCRN) Target Price to $15.00

Cross Country Healthcare (NASDAQ:CCRN) had its target price decreased by Truist Financial from $17.00 to $15.00 in a research note published on Monday morning, Benzinga reports. Truist Financial currently has a hold rating on the business services provider’s stock.

Separately, Barrington Research cut their price target on shares of Cross Country Healthcare from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.20.

Cross Country Healthcare Stock Performance

Shares of CCRN stock opened at $11.84 on Monday. Cross Country Healthcare has a one year low of $11.64 and a one year high of $23.64. The firm’s 50 day moving average price is $13.67 and its 200-day moving average price is $14.82. The firm has a market cap of $411.72 million, a P/E ratio of 9.11, a P/E/G ratio of 2.37 and a beta of 0.63.

Cross Country Healthcare (NASDAQ:CCRN) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). Cross Country Healthcare had a return on equity of 7.29% and a net margin of 0.54%. The firm had revenue of $339.77 million for the quarter, compared to analysts’ expectations of $334.75 million. During the same quarter in the prior year, the business earned $0.69 earnings per share. The company’s quarterly revenue was down 37.2% on a year-over-year basis. As a group, research analysts predict that Cross Country Healthcare will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at Cross Country Healthcare

In related news, insider Karen Mote sold 13,829 shares of Cross Country Healthcare stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $17.08, for a total value of $236,199.32. Following the completion of the transaction, the insider now owns 24,696 shares in the company, valued at $421,807.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Karen Mote sold 13,829 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $17.08, for a total value of $236,199.32. Following the transaction, the insider now owns 24,696 shares in the company, valued at approximately $421,807.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Cynthia Ann Grieco sold 1,945 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $17.21, for a total transaction of $33,473.45. Following the completion of the transaction, the vice president now owns 7,605 shares of the company’s stock, valued at approximately $130,882.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in Cross Country Healthcare by 3.8% in the second quarter. Pacer Advisors Inc. now owns 4,550,848 shares of the business services provider’s stock valued at $62,984,000 after purchasing an additional 165,032 shares during the period. Boston Partners acquired a new stake in shares of Cross Country Healthcare during the first quarter worth $2,511,000. American Century Companies Inc. grew its position in Cross Country Healthcare by 15.9% in the 2nd quarter. American Century Companies Inc. now owns 772,834 shares of the business services provider’s stock valued at $10,696,000 after buying an additional 106,226 shares during the last quarter. Dana Investment Advisors Inc. increased its stake in Cross Country Healthcare by 34.7% in the 2nd quarter. Dana Investment Advisors Inc. now owns 404,370 shares of the business services provider’s stock valued at $5,596,000 after buying an additional 104,136 shares during the period. Finally, AQR Capital Management LLC raised its position in Cross Country Healthcare by 39.9% during the 2nd quarter. AQR Capital Management LLC now owns 322,483 shares of the business services provider’s stock worth $4,463,000 after buying an additional 92,011 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

About Cross Country Healthcare

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company’s Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.