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

Cross Country Healthcare (NASDAQ:CCRN) had its target price cut by Benchmark from $21.00 to $19.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Benchmark’s price target would indicate a potential upside of 8.39% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. TheStreet lowered shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a research report on Friday, March 1st. Truist Financial cut their target price on shares of 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, Barrington Research lowered their price target on shares of Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.33.

Cross Country Healthcare Price Performance

Cross Country Healthcare stock traded down $0.37 during midday trading on Thursday, hitting $17.53. 508,462 shares of the stock were exchanged, compared to its average volume of 442,816. Cross Country Healthcare has a 1 year low of $15.65 and a 1 year high of $28.75. The firm has a market cap of $607.94 million, a P/E ratio of 8.75, a P/E/G ratio of 1.91 and a beta of 0.77. The company has a 50 day moving average price of $17.94 and a two-hundred day moving average price of $20.10.

Cross Country Healthcare (NASDAQ:CCRN) last issued its earnings results on Wednesday, May 1st. The business services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $379.17 million for the quarter, compared to analyst estimates of $374.38 million. Cross Country Healthcare had a net margin of 3.60% and a return on equity of 16.93%. The company’s revenue for the quarter was down 39.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 EPS. As a group, analysts predict that Cross Country Healthcare will post 0.92 EPS for the current year.

Insiders Place Their Bets

In other news, insider Karen Mote sold 6,216 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $16.95, for a total transaction of $105,361.20. Following the transaction, the insider now owns 35,101 shares in the company, valued at approximately $594,961.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP raised its position in Cross Country Healthcare by 74.3% in the 4th quarter. Wasatch Advisors LP now owns 2,193,604 shares of the business services provider’s stock worth $49,663,000 after purchasing an additional 934,841 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Cross Country Healthcare by 50.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,489,580 shares of the business services provider’s stock valued at $56,364,000 after acquiring an additional 834,941 shares during the period. LSV Asset Management boosted its stake in Cross Country Healthcare by 218.0% during the 3rd quarter. LSV Asset Management now owns 343,678 shares of the business services provider’s stock worth $8,520,000 after acquiring an additional 235,600 shares during the last quarter. Kestrel Investment Management Corp acquired a new position in Cross Country Healthcare during the third quarter valued at approximately $5,171,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Cross Country Healthcare by 80.4% in the third 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 and hedge funds 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.