Cross Country Healthcare (NASDAQ:CCRN) PT Lowered to $21.00 at Barrington Research

Cross Country Healthcare (NASDAQ:CCRN) had its price objective trimmed by Barrington Research from $24.00 to $21.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock. Barrington Research also issued estimates for Cross Country Healthcare’s Q2 2024 earnings at $0.15 EPS.

Other equities research analysts have also recently issued research reports about the company. Truist Financial decreased their price target 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. TheStreet downgraded shares of Cross Country Healthcare from a b- rating to a c+ rating in a research report on Friday, March 1st. Finally, Benchmark lowered their target price on shares of Cross Country Healthcare from $21.00 to $19.00 and set a buy rating for the company in a research note on Thursday, May 2nd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $20.83.

Cross Country Healthcare Price Performance

Cross Country Healthcare stock opened at $16.47 on Monday. The business has a 50 day moving average of $17.82 and a 200-day moving average of $19.88. The company has a market capitalization of $572.73 million, a P/E ratio of 12.67, a P/E/G ratio of 2.17 and a beta of 0.77. Cross Country Healthcare has a 1 year low of $15.65 and a 1 year high of $28.75.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $379.17 million during the quarter, compared to analysts’ expectations of $374.38 million. Cross Country Healthcare had a net margin of 2.58% and a return on equity of 11.69%. The company’s revenue was down 39.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.84 EPS. Equities analysts anticipate that Cross Country Healthcare will post 0.77 EPS for the current year.

Insider Buying and Selling at Cross Country Healthcare

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

Hedge Funds Weigh In On Cross Country Healthcare

A number of large investors have recently modified their holdings of CCRN. Blair William & Co. IL acquired a new position in Cross Country Healthcare during the third quarter worth $2,550,000. Jacobs Levy Equity Management Inc. lifted its position in Cross Country Healthcare by 63.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 370,224 shares of the business services provider’s stock valued at $9,178,000 after acquiring an additional 144,035 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Cross Country Healthcare by 80.4% during the 3rd 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 during the last quarter. Paradiem LLC increased its holdings in Cross Country Healthcare by 5.0% during the 3rd quarter. Paradiem LLC now owns 131,989 shares of the business services provider’s stock worth $3,272,000 after purchasing an additional 6,341 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of Cross Country Healthcare by 946.0% in the third quarter. Qube Research & Technologies Ltd now owns 115,318 shares of the business services provider’s stock worth $2,859,000 after purchasing an additional 104,293 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.

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.