Cross Country Healthcare (NASDAQ:CCRN) PT Lowered to $19.00 at Benchmark

Cross Country Healthcare (NASDAQ:CCRN) had its price objective cut by Benchmark from $21.00 to $19.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Benchmark’s price target would indicate a potential upside of 13.98% from the company’s current price.

A number of other brokerages have also recently commented on CCRN. Barrington Research cut their price target on shares of Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Truist Financial cut their price target on Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating for the company in a report on Thursday, February 22nd. Finally, TheStreet downgraded shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a report on Friday, March 1st. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Cross Country Healthcare currently has a consensus rating of “Hold” and an average price target of $21.33.

Cross Country Healthcare Stock Down 0.4 %

Shares of NASDAQ:CCRN traded down $0.07 during midday trading on Thursday, reaching $16.67. The company had a trading volume of 553,081 shares, compared to its average volume of 287,450. The business’s 50 day moving average price is $17.92 and its 200 day moving average price is $20.03. Cross Country Healthcare has a 1-year low of $15.65 and a 1-year high of $28.75. The stock has a market cap of $578.12 million, a PE ratio of 12.82, a P/E/G ratio of 1.85 and a beta of 0.77.

Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $379.17 million for the quarter, compared to analyst estimates of $374.38 million. Cross Country Healthcare had a return on equity of 11.69% and a net margin of 2.58%. The business’s quarterly revenue was down 39.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 EPS. On average, research analysts expect that Cross Country Healthcare will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Cross Country Healthcare

In other news, insider Karen Mote sold 6,216 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $16.95, for a total transaction of $105,361.20. Following the transaction, the insider now directly owns 35,101 shares of the company’s stock, valued at $594,961.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.90% of the company’s stock.

Institutional Trading of Cross Country Healthcare

Large investors have recently modified their holdings of the stock. Gladius Capital Management LP raised its stake in Cross Country Healthcare by 37.1% in the fourth quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 515 shares in the last quarter. SummerHaven Investment Management LLC raised its position in shares of Cross Country Healthcare by 2.0% in the 4th quarter. SummerHaven Investment Management LLC now owns 26,927 shares of the business services provider’s stock valued at $610,000 after buying an additional 520 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Cross Country Healthcare in the 4th quarter valued at approximately $28,000. SG Americas Securities LLC lifted its holdings in shares of Cross Country Healthcare by 8.2% during the 4th quarter. SG Americas Securities LLC now owns 19,754 shares of the business services provider’s stock worth $447,000 after acquiring an additional 1,493 shares during the period. Finally, Truvestments Capital LLC boosted its position in shares of Cross Country Healthcare by 26.1% during the 3rd quarter. Truvestments Capital LLC now owns 9,721 shares of the business services provider’s stock worth $241,000 after acquiring an additional 2,013 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

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.