Benchmark Lowers Cross Country Healthcare (NASDAQ:CCRN) Price Target to $19.00

Cross Country Healthcare (NASDAQ:CCRN) had its price objective dropped by equities researchers at Benchmark from $21.00 to $19.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Benchmark’s target price would indicate a potential upside of 13.98% from the stock’s previous close.

Several other analysts have also commented on the stock. Barrington Research cut their target price 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 objective on Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday, February 22nd. Finally, TheStreet cut Cross Country Healthcare from a “b-” rating to a “c+” rating in a report on Friday, March 1st. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.33.

Cross Country Healthcare Stock Down 0.4 %

CCRN traded down $0.07 during trading on Thursday, reaching $16.67. The stock had a trading volume of 553,081 shares, compared to its average volume of 287,450. The stock has a 50 day moving average of $17.92 and a two-hundred day moving average of $20.03. The firm has a market capitalization of $578.12 million, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 1.85 and a beta of 0.77. Cross Country Healthcare has a 1-year low of $15.65 and a 1-year high of $28.75.

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

Insider Transactions at Cross Country Healthcare

In related news, insider Karen Mote sold 6,216 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $594,961.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CCRN. GAMMA Investing LLC bought a new position in shares of Cross Country Healthcare in the 4th quarter valued at approximately $28,000. Gladius Capital Management LP lifted its stake in shares of 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 worth $43,000 after buying an additional 515 shares during the last quarter. Denali Advisors LLC boosted its holdings in shares of Cross Country Healthcare by 3,885.5% during the 1st quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider’s stock worth $103,000 after buying an additional 5,362 shares during the period. Aigen Investment Management LP acquired a new position in Cross Country Healthcare in the 3rd quarter valued at $219,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Cross Country Healthcare by 212.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,089 shares of the business services provider’s stock worth $226,000 after acquiring an additional 8,225 shares during the period. Institutional investors 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.