Cross Country Healthcare, Inc. (NASDAQ:CCRN) Shares Sold by Kestrel Investment Management Corp

Kestrel Investment Management Corp reduced its position in Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 18.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,500 shares of the business services provider’s stock after selling 38,100 shares during the quarter. Cross Country Healthcare makes up approximately 2.6% of Kestrel Investment Management Corp’s portfolio, making the stock its 18th biggest position. Kestrel Investment Management Corp’s holdings in Cross Country Healthcare were worth $3,860,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE acquired a new position in shares of Cross Country Healthcare during the first quarter worth about $27,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Cross Country Healthcare during the fourth quarter worth about $39,000. Point72 Hong Kong Ltd acquired a new position in shares of Cross Country Healthcare during the first quarter worth about $35,000. Captrust Financial Advisors grew its position in shares of Cross Country Healthcare by 26.4% during the first quarter. Captrust Financial Advisors now owns 3,074 shares of the business services provider’s stock worth $67,000 after buying an additional 642 shares in the last quarter. Finally, Fortis Capital Advisors LLC acquired a new position in shares of Cross Country Healthcare during the fourth quarter worth about $84,000. 96.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Benchmark lowered their price objective on Cross Country Healthcare from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Barrington Research lowered their price objective on Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. Truist Financial decreased their target price on Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd. Finally, TheStreet cut Cross Country Healthcare from a “b-” rating to a “c+” rating in a research note on Friday, March 1st. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.67.

Cross Country Healthcare Stock Performance

NASDAQ CCRN traded up $0.37 on Friday, reaching $17.50. The stock had a trading volume of 182,589 shares, compared to its average volume of 458,854. Cross Country Healthcare, Inc. has a 12-month low of $15.65 and a 12-month high of $28.75. The business’s 50-day moving average price is $18.22 and its 200 day moving average price is $20.55. The stock has a market cap of $606.90 million, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 1.79 and a beta of 0.75.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Cross Country Healthcare had a return on equity of 16.93% and a net margin of 3.60%. The company had revenue of $414.04 million during the quarter, compared to analysts’ expectations of $404.42 million. During the same quarter in the previous year, the business earned $1.09 earnings per share. The firm’s revenue for the quarter was down 34.1% on a year-over-year basis. On average, sell-side analysts predict that Cross Country Healthcare, Inc. will post 0.94 earnings per share for the current year.

Insider Buying and Selling at Cross Country Healthcare

In other Cross Country Healthcare 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 in the company, valued at $594,961.95. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.90% of the stock is owned by company insiders.

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.