Cross Country Healthcare (NASDAQ:CCRN) Stock Price Down 14.3%

Cross Country Healthcare, Inc. (NASDAQ:CCRNGet Rating) shares traded down 14.3% during mid-day trading on Thursday . The stock traded as low as $23.51 and last traded at $23.51. 12,134 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 788,368 shares. The stock had previously closed at $27.44.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Barrington Research boosted their target price on shares of Cross Country Healthcare from $33.00 to $44.00 in a research note on Monday, April 11th. Benchmark decreased their target price on shares of Cross Country Healthcare from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Monday, June 13th. Finally, Credit Suisse Group cut their price target on shares of Cross Country Healthcare from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, June 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.40.

Cross Country Healthcare Stock Performance

The company has a market cap of $923.92 million, a PE ratio of 4.23, a price-to-earnings-growth ratio of 0.71 and a beta of 1.03. The firm’s fifty day moving average is $22.13 and its 200 day moving average is $20.77. The company has a current ratio of 2.67, a quick ratio of 2.44 and a debt-to-equity ratio of 0.50.

Cross Country Healthcare (NASDAQ:CCRNGet Rating) last released its earnings results on Wednesday, May 4th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.30. Cross Country Healthcare had a net margin of 8.44% and a return on equity of 60.23%. The business had revenue of $788.70 million during the quarter, compared to analyst estimates of $745.54 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The company’s revenue for the quarter was up 139.6% compared to the same quarter last year. As a group, research analysts predict that Cross Country Healthcare, Inc. will post 4.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Cross Country Healthcare

A number of large investors have recently modified their holdings of the business. Los Angeles Capital Management LLC grew its holdings in shares of Cross Country Healthcare by 41.5% during the second quarter. Los Angeles Capital Management LLC now owns 115,131 shares of the business services provider’s stock worth $2,398,000 after buying an additional 33,741 shares in the last quarter. Watershed Asset Management L.L.C. purchased a new stake in shares of Cross Country Healthcare during the second quarter worth $249,000. Royce & Associates LP grew its holdings in shares of Cross Country Healthcare by 15.9% during the second quarter. Royce & Associates LP now owns 1,185,685 shares of the business services provider’s stock worth $24,698,000 after buying an additional 162,724 shares in the last quarter. Investment Management of Virginia LLC grew its holdings in shares of Cross Country Healthcare by 0.9% during the second quarter. Investment Management of Virginia LLC now owns 352,263 shares of the business services provider’s stock worth $7,338,000 after buying an additional 3,150 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Cross Country Healthcare by 5.7% during the second quarter. New York State Teachers Retirement System now owns 69,750 shares of the business services provider’s stock worth $1,453,000 after buying an additional 3,735 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

Cross Country Healthcare Company Profile

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Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company operates in two segments, Nurse and Allied Staffing and Physician Staffing. The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, local nurses, and allied staffing; staffing solutions for registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and clinical and non-clinical professionals on long-term contract assignments, as well as workforce solutions, including MSP, RPO, and consulting services.

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