Cross Country Healthcare, Inc. (NASDAQ:CCRN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) have earned an average recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $17.93.

CCRN has been the topic of several analyst reports. Wall Street Zen initiated coverage on shares of Cross Country Healthcare in a research report on Thursday, May 15th. They set a “hold” rating on the stock. UBS Group dropped their price target on shares of Cross Country Healthcare from $18.61 to $16.50 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Finally, Barrington Research restated a “market perform” rating and set a $18.61 price target on shares of Cross Country Healthcare in a research report on Friday, March 14th.

Cross Country Healthcare Stock Performance

CCRN stock opened at $13.05 on Wednesday. The firm has a market cap of $427.82 million, a PE ratio of -260.95, a P/E/G ratio of 3.32 and a beta of 0.37. The firm’s fifty day moving average is $13.80 and its 200 day moving average is $15.80. Cross Country Healthcare has a one year low of $9.58 and a one year high of $18.50.

Cross Country Healthcare (NASDAQ:CCRN) last released its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Cross Country Healthcare had a negative net margin of 0.12% and a positive return on equity of 5.38%. The company’s revenue for the quarter was down 22.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 EPS. Research analysts predict that Cross Country Healthcare will post 0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cross Country Healthcare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its holdings in Cross Country Healthcare by 657.5% during the fourth quarter. Millennium Management LLC now owns 405,600 shares of the business services provider’s stock valued at $7,366,000 after purchasing an additional 352,056 shares in the last quarter. Amundi lifted its holdings in Cross Country Healthcare by 385.4% during the fourth quarter. Amundi now owns 26,494 shares of the business services provider’s stock valued at $483,000 after purchasing an additional 21,036 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Cross Country Healthcare by 35.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,719 shares of the business services provider’s stock valued at $431,000 after purchasing an additional 6,214 shares in the last quarter. Yakira Capital Management Inc. purchased a new position in Cross Country Healthcare during the fourth quarter valued at $1,013,000. Finally, Chicago Capital Management LLC purchased a new position in Cross Country Healthcare during the fourth quarter valued at $7,300,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Cross Country Healthcare Company 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.