Allspring Global Investments Holdings LLC Reduces Stock Position in Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 72.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,864 shares of the business services provider’s stock after selling 9,965 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Cross Country Healthcare were worth $87,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Aigen Investment Management LP purchased a new stake in Cross Country Healthcare in the 3rd quarter valued at $219,000. Truvestments Capital LLC raised its stake in shares of Cross Country Healthcare by 26.1% during the third quarter. Truvestments Capital LLC now owns 9,721 shares of the business services provider’s stock worth $241,000 after purchasing an additional 2,013 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Cross Country Healthcare during the third quarter worth $300,000. Hsbc Holdings PLC purchased a new position in Cross Country Healthcare in the 3rd quarter valued at $355,000. Finally, TD Asset Management Inc increased its stake in Cross Country Healthcare by 87.0% in the 3rd quarter. TD Asset Management Inc now owns 14,400 shares of the business services provider’s stock valued at $357,000 after buying an additional 6,700 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Insider Buying and Selling

In related news, insider Karen Mote sold 6,216 shares of the company’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 sale, the insider now owns 35,101 shares of the company’s stock, valued at approximately $594,961.95. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.90% of the company’s stock.

Analysts Set New Price Targets

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

Cross Country Healthcare Stock Performance

Cross Country Healthcare stock opened at $17.55 on Tuesday. Cross Country Healthcare, Inc. has a fifty-two week low of $15.65 and a fifty-two week high of $28.75. The firm has a market capitalization of $608.63 million, a price-to-earnings ratio of 8.65, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75. The stock’s fifty day moving average is $17.92 and its two-hundred day moving average is $20.16.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The firm had revenue of $414.04 million for the quarter, compared to analysts’ expectations of $404.42 million. Cross Country Healthcare had a net margin of 3.60% and a return on equity of 16.93%. The firm’s revenue was down 34.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 EPS. As a group, sell-side analysts forecast that Cross Country Healthcare, Inc. will post 0.92 EPS for the current fiscal year.

Cross Country Healthcare 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.