Cross Country Healthcare, Inc. (NASDAQ:CCRN) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) have earned a consensus rating of “Reduce” from the ten analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $12.05.

A number of research analysts recently commented on the stock. Cross Research set a $14.00 price objective on shares of Cross Country Healthcare in a research report on Thursday, March 5th. Wedbush downgraded shares of Cross Country Healthcare from an “outperform” rating to a “hold” rating and lowered their price objective for the company from $15.00 to $13.25 in a research report on Thursday, May 7th. Citizens Jmp downgraded shares of Cross Country Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Truist Financial boosted their price objective on shares of Cross Country Healthcare from $10.00 to $13.25 and gave the company a “hold” rating in a research report on Monday, May 11th. Finally, Benchmark downgraded shares of Cross Country Healthcare from a “buy” rating to a “hold” rating in a research report on Friday, May 8th.

Cross Country Healthcare Stock Up 0.0%

CCRN opened at $13.20 on Friday. The stock has a fifty day moving average of $12.35 and a 200-day moving average of $10.07. The firm has a market capitalization of $426.33 million, a P/E ratio of -4.33, a PEG ratio of 14.29 and a beta of 0.45. Cross Country Healthcare has a 12-month low of $7.43 and a 12-month high of $14.99.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings data on Thursday, May 7th. The business services provider reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Cross Country Healthcare had a negative net margin of 9.84% and a negative return on equity of 0.74%. The firm had revenue of $241.06 million for the quarter, compared to the consensus estimate of $237.07 million. On average, analysts expect that Cross Country Healthcare will post 0.09 earnings per share for the current fiscal year.

Institutional Trading of Cross Country Healthcare

Several large investors have recently added to or reduced their stakes in CCRN. BNP Paribas Financial Markets boosted its stake in shares of Cross Country Healthcare by 50.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,424 shares of the business services provider’s stock worth $45,000 after acquiring an additional 1,142 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Cross Country Healthcare during the 4th quarter worth about $46,000. Tower Research Capital LLC TRC boosted its stake in shares of Cross Country Healthcare by 422.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,586 shares of the business services provider’s stock worth $47,000 after acquiring an additional 2,899 shares in the last quarter. Graham Capital Management L.P. bought a new stake in shares of Cross Country Healthcare during the 4th quarter worth about $83,000. Finally, AXQ Capital LP bought a new stake in shares of Cross Country Healthcare during the 4th quarter worth about $109,000. 96.03% of the stock is owned by institutional investors.

About Cross Country Healthcare

Cross Country Healthcare, Inc, headquartered in Boca Raton, Florida, is a leading provider of healthcare workforce solutions in the United States. The company specializes in the recruitment, placement and management of nursing and allied health professionals on both a travel and permanent basis. Through its integrated platform, Cross Country Healthcare serves hospitals, health systems, and long-term care facilities by matching qualified clinical talent with patient care needs across diverse care settings.

The company’s core service offerings include travel nurse and allied health staffing, per diem staffing, permanent placement services, and managed services programs.