Cross Country Healthcare (NASDAQ:CCRN) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Cross Country Healthcare, Inc. (NASDAQ:CCRN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.55 and traded as high as $13.24. Cross Country Healthcare shares last traded at $13.24, with a volume of 213,259 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have commented on CCRN shares. Wedbush downgraded Cross Country Healthcare from an “outperform” rating to a “hold” rating and cut their target price for the stock from $15.00 to $13.25 in a report on Thursday, May 7th. Truist Financial raised their price objective on Cross Country Healthcare from $10.00 to $13.25 and gave the stock a “hold” rating in a research report on Monday, May 11th. Weiss Ratings cut Cross Country Healthcare from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. Benchmark downgraded shares of Cross Country Healthcare from a “buy” rating to a “hold” rating in a research report on Friday, May 8th. Finally, Barrington Research restated a “market perform” rating and set a $13.25 price target on shares of Cross Country Healthcare in a report on Monday, June 8th. Nine investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cross Country Healthcare has a consensus rating of “Reduce” and an average target price of $12.05.

Cross Country Healthcare Stock Performance

The stock has a fifty day simple moving average of $13.16 and a two-hundred day simple moving average of $10.59. The stock has a market capitalization of $427.95 million, a price-to-earnings ratio of -4.34, a P/E/G ratio of 14.31 and a beta of 0.45.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings data on Thursday, May 7th. The business services provider reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Cross Country Healthcare had a negative return on equity of 0.74% and a negative net margin of 9.84%.The company had revenue of $241.06 million for the quarter, compared to the consensus estimate of $237.06 million. Research analysts forecast that Cross Country Healthcare, Inc. will post 0.09 earnings per share for the current year.

Hedge Funds Weigh In On Cross Country Healthcare

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its position in shares of Cross Country Healthcare by 69.0% during the 1st quarter. Bank of America Corp DE now owns 579,937 shares of the business services provider’s stock worth $5,451,000 after buying an additional 236,721 shares during the period. Royal Bank of Canada boosted its stake in Cross Country Healthcare by 44.1% during the first quarter. Royal Bank of Canada now owns 48,851 shares of the business services provider’s stock worth $459,000 after acquiring an additional 14,950 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Cross Country Healthcare by 43.1% in the first quarter. Quantinno Capital Management LP now owns 71,740 shares of the business services provider’s stock worth $674,000 after purchasing an additional 21,606 shares during the period. Lazard Asset Management LLC increased its stake in Cross Country Healthcare by 67.2% in the first quarter. Lazard Asset Management LLC now owns 58,168 shares of the business services provider’s stock valued at $547,000 after purchasing an additional 23,374 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Cross Country Healthcare by 14.4% in the first quarter. Renaissance Technologies LLC now owns 245,400 shares of the business services provider’s stock valued at $2,307,000 after purchasing an additional 30,800 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Cross Country Healthcare Company Profile

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.