Cross Country Healthcare (NASDAQ:CCRN) Stock Price Up 7.6%

Cross Country Healthcare, Inc. (NASDAQ:CCRN)’s share price rose 7.6% on Tuesday . The stock traded as high as $18.32 and last traded at $18.31. Approximately 308,580 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 454,273 shares. The stock had previously closed at $17.02.

Wall Street Analyst Weigh In

CCRN has been the topic of several research reports. Benchmark dropped their price objective on shares of Cross Country Healthcare from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. TheStreet lowered shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a research note on Friday, March 1st. Truist Financial dropped their price objective on shares of Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating on the stock in a research note on Thursday, February 22nd. Finally, Barrington Research dropped their price objective on shares of Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Cross Country Healthcare has a consensus rating of “Hold” and a consensus target price of $21.67.

Cross Country Healthcare Stock Performance

The company’s 50 day moving average price is $17.92 and its 200 day moving average price is $20.29. The company has a market cap of $603.43 million, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 1.93 and a beta of 0.75.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Cross Country Healthcare had a net margin of 3.60% and a return on equity of 16.93%. The company had revenue of $414.04 million for the quarter, compared to analyst estimates of $404.42 million. During the same quarter in the prior year, the business posted $1.09 EPS. Cross Country Healthcare’s quarterly revenue was down 34.1% on a year-over-year basis. On average, equities research analysts forecast that Cross Country Healthcare, Inc. will post 0.92 EPS for the current fiscal year.

Insider Activity at Cross Country Healthcare

In related news, insider Karen Mote sold 6,216 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $16.95, for a total value of $105,361.20. Following the transaction, the insider now directly owns 35,101 shares in the company, valued at approximately $594,961.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in Cross Country Healthcare in the 4th quarter valued at $28,000. Gladius Capital Management LP increased its holdings in shares of Cross Country Healthcare by 37.1% during the 4th quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock worth $43,000 after purchasing an additional 515 shares during the period. Denali Advisors LLC increased 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 purchasing an additional 5,362 shares during the period. Aigen Investment Management LP bought a new position in shares of Cross Country Healthcare during the 3rd quarter worth about $219,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Cross Country Healthcare by 212.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,089 shares of the business services provider’s stock worth $226,000 after purchasing an additional 8,225 shares during the period. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Cross Country Healthcare Company Profile

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.