Cross Country Healthcare (NASDAQ:CCRN) Announces Earnings Results

Cross Country Healthcare (NASDAQ:CCRN) posted its quarterly earnings results on Wednesday. The business services provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01), FiscalAI reports. Cross Country Healthcare had a negative net margin of 0.70% and a positive return on equity of 1.72%. The business had revenue of $250.06 million for the quarter, compared to the consensus estimate of $270.72 million.

Cross Country Healthcare Trading Up 1.8%

Shares of NASDAQ:CCRN traded up $0.22 during trading on Wednesday, reaching $12.65. The company’s stock had a trading volume of 249,076 shares, compared to its average volume of 341,577. The stock has a market capitalization of $414.41 million, a PE ratio of -48.65, a price-to-earnings-growth ratio of 8.87 and a beta of 0.45. Cross Country Healthcare has a 12 month low of $9.58 and a 12 month high of $18.33. The firm’s 50 day simple moving average is $13.01 and its two-hundred day simple moving average is $13.20.

Institutional Investors Weigh In On Cross Country Healthcare

Several institutional investors have recently modified their holdings of CCRN. Alliancebernstein L.P. increased its position in shares of Cross Country Healthcare by 4.0% during the 2nd quarter. Alliancebernstein L.P. now owns 2,438,282 shares of the business services provider’s stock valued at $31,820,000 after purchasing an additional 94,798 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Cross Country Healthcare by 56.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,095,178 shares of the business services provider’s stock worth $16,307,000 after buying an additional 397,216 shares during the period. Qube Research & Technologies Ltd boosted its stake in Cross Country Healthcare by 19.9% during the second quarter. Qube Research & Technologies Ltd now owns 598,247 shares of the business services provider’s stock worth $7,807,000 after buying an additional 99,132 shares during the period. JPMorgan Chase & Co. increased its position in Cross Country Healthcare by 42.8% during the third quarter. JPMorgan Chase & Co. now owns 294,845 shares of the business services provider’s stock valued at $4,187,000 after acquiring an additional 88,407 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Cross Country Healthcare by 5.1% in the second quarter. Sei Investments Co. now owns 146,611 shares of the business services provider’s stock valued at $1,913,000 after acquiring an additional 7,175 shares during the period. 96.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CCRN shares. Weiss Ratings reissued a “sell (d)” rating on shares of Cross Country Healthcare in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Cross Country Healthcare to a “hold” rating in a report on Saturday, August 9th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cross Country Healthcare presently has an average rating of “Reduce” and an average price target of $17.91.

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.