Brokerages Set Cross Country Healthcare, Inc. (NASDAQ:CCRN) Price Target at $20.83

Cross Country Healthcare, Inc. (NASDAQ:CCRN) has been given an average rating of “Hold” by the seven research firms that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $20.83.

A number of brokerages recently weighed in on CCRN. Benchmark reduced their price target on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Barrington Research reduced their target price on shares of Cross Country Healthcare from $24.00 to $21.00 and set an “outperform” rating for the company in a report on Monday, May 6th.

Cross Country Healthcare Trading Down 0.3 %

Shares of CCRN stock opened at $13.65 on Wednesday. The firm has a fifty day moving average price of $15.06 and a 200 day moving average price of $18.16. The company has a market cap of $474.61 million, a P/E ratio of 10.50, a PEG ratio of 1.90 and a beta of 0.64. Cross Country Healthcare has a 12 month low of $13.48 and a 12 month high of $28.55.

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 for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. Cross Country Healthcare had a net margin of 2.58% and a return on equity of 11.69%. The firm had revenue of $379.17 million during the quarter, compared to analysts’ expectations of $374.38 million. During the same period in the previous year, the company earned $0.84 earnings per share. Cross Country Healthcare’s quarterly revenue was down 39.1% compared to the same quarter last year. On average, equities analysts forecast that Cross Country Healthcare will post 0.73 EPS for the current year.

Insiders Place Their Bets

In related news, insider Phillip Lyn Noe sold 9,646 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $14.19, for a total transaction of $136,876.74. Following the sale, the insider now owns 10,162 shares of the company’s stock, valued at $144,198.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Phillip Lyn Noe sold 9,646 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $14.19, for a total transaction of $136,876.74. Following the sale, the insider now owns 10,162 shares of the company’s stock, valued at $144,198.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marc S. Krug sold 13,657 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $14.82, for a total transaction of $202,396.74. Following the sale, the insider now directly owns 36,020 shares in the company, valued at approximately $533,816.40. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Cross Country Healthcare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gladius Capital Management LP raised its position in Cross Country Healthcare by 37.1% during the fourth quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock worth $43,000 after acquiring an additional 515 shares during the last quarter. SummerHaven Investment Management LLC raised its position in Cross Country Healthcare by 2.0% during the fourth quarter. SummerHaven Investment Management LLC now owns 26,927 shares of the business services provider’s stock worth $610,000 after acquiring an additional 520 shares during the last quarter. GAMMA Investing LLC acquired a new position in Cross Country Healthcare during the fourth quarter worth about $28,000. Price T Rowe Associates Inc. MD raised its position in Cross Country Healthcare by 9.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,639 shares of the business services provider’s stock worth $312,000 after acquiring an additional 1,450 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Cross Country Healthcare by 8.2% during the fourth quarter. SG Americas Securities LLC now owns 19,754 shares of the business services provider’s stock worth $447,000 after acquiring an additional 1,493 shares during 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.