Cross Country Healthcare (NASDAQ:CCRN) Trading Down 4.1% After Analyst Downgrade

Cross Country Healthcare, Inc. (NASDAQ:CCRN) shares fell 4.1% during mid-day trading on Monday after Barrington Research lowered their price target on the stock from $24.00 to $21.00. Barrington Research currently has an outperform rating on the stock. Cross Country Healthcare traded as low as $15.98 and last traded at $15.98. 169,240 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 448,589 shares. The stock had previously closed at $16.67.

Other analysts also recently issued reports about the company. TheStreet downgraded Cross Country Healthcare from a “b-” rating to a “c+” rating in a research report on Friday, March 1st. Truist Financial cut their price target on Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. Finally, Benchmark dropped their target price on Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday. 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.com, the company currently has an average rating of “Hold” and an average price target of $20.83.

Insiders Place Their Bets

In other Cross Country Healthcare news, insider Karen Mote sold 6,216 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $16.95, for a total value of $105,361.20. Following the completion of the sale, the insider now owns 35,101 shares in the company, valued at approximately $594,961.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.90% of the company’s stock.

Institutional Trading of Cross Country Healthcare

Institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its position in Cross Country Healthcare by 74.3% during the fourth quarter. Wasatch Advisors LP now owns 2,193,604 shares of the business services provider’s stock valued at $49,663,000 after purchasing an additional 934,841 shares during the period. Pacer Advisors Inc. boosted its position in shares of Cross Country Healthcare by 50.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,489,580 shares of the business services provider’s stock worth $56,364,000 after purchasing an additional 834,941 shares during the period. LSV Asset Management boosted its position in Cross Country Healthcare by 218.0% in the 3rd quarter. LSV Asset Management now owns 343,678 shares of the business services provider’s stock valued at $8,520,000 after buying an additional 235,600 shares during the period. Kestrel Investment Management Corp acquired a new stake in shares of Cross Country Healthcare in the 3rd quarter valued at $5,171,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Cross Country Healthcare by 80.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 401,887 shares of the business services provider’s stock valued at $9,963,000 after purchasing an additional 179,093 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Cross Country Healthcare Trading Down 3.9 %

The stock’s fifty day moving average price is $17.92 and its two-hundred day moving average price is $19.99. The firm has a market capitalization of $557.02 million, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77.

Cross Country Healthcare (NASDAQ:CCRN) last issued its earnings results on Wednesday, May 1st. The business services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $379.17 million for the quarter, compared to the consensus estimate of $374.38 million. Cross Country Healthcare had a net margin of 2.58% and a return on equity of 11.69%. The business’s quarterly revenue was down 39.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Analysts anticipate that Cross Country Healthcare, Inc. will post 0.77 earnings per share for the current fiscal year.

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.