Wedbush Begins Coverage on Cross Country Healthcare (NASDAQ:CCRN)

Analysts at Wedbush initiated coverage on shares of Cross Country Healthcare (NASDAQ:CCRN) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage set a “neutral” rating and a $11.00 price target on the business services provider’s stock. Wedbush’s target price would indicate a potential upside of 23.46% from the company’s previous close.

CCRN has been the topic of several other research reports. Citigroup reaffirmed a “market outperform” rating on shares of Cross Country Healthcare in a research report on Friday, December 19th. UBS Group dropped their price objective on Cross Country Healthcare from $16.50 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 9th. Jefferies Financial Group set a $8.65 target price on shares of Cross Country Healthcare and gave the stock a “hold” rating in a report on Thursday, December 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Cross Country Healthcare in a report on Monday, December 29th. Finally, JMP Securities set a $11.00 price objective on shares of Cross Country Healthcare in a research report on Thursday, December 4th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.32.

Cross Country Healthcare Stock Performance

NASDAQ CCRN opened at $8.91 on Tuesday. Cross Country Healthcare has a one year low of $7.43 and a one year high of $18.28. The company has a market capitalization of $291.89 million, a price-to-earnings ratio of -18.18, a price-to-earnings-growth ratio of 6.00 and a beta of 0.45. The company’s 50-day simple moving average is $8.64 and its two-hundred day simple moving average is $11.42.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings results on Wednesday, November 12th. The business services provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $250.05 million during the quarter, compared to analysts’ expectations of $270.72 million. Cross Country Healthcare had a positive return on equity of 0.95% and a negative net margin of 1.39%. Equities analysts expect that Cross Country Healthcare will post 0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Signaturefd LLC lifted its stake in shares of Cross Country Healthcare by 139.9% during the second quarter. Signaturefd LLC now owns 2,193 shares of the business services provider’s stock worth $29,000 after buying an additional 1,279 shares during the period. BNP Paribas Financial Markets lifted its position in Cross Country Healthcare by 50.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,424 shares of the business services provider’s stock worth $45,000 after acquiring an additional 1,142 shares during the period. Tower Research Capital LLC TRC grew its stake in Cross Country Healthcare by 422.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,586 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 2,899 shares during the last quarter. Vazirani Asset Management LLC purchased a new stake in Cross Country Healthcare during the 3rd quarter valued at about $142,000. Finally, Brooklyn Investment Group increased its holdings in shares of Cross Country Healthcare by 228.9% in the third quarter. Brooklyn Investment Group now owns 10,583 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 7,365 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc, headquartered in Boca Raton, Florida, is a leading provider of healthcare workforce solutions in the United States. The company specializes in the recruitment, placement and management of nursing and allied health professionals on both a travel and permanent basis. Through its integrated platform, Cross Country Healthcare serves hospitals, health systems, and long-term care facilities by matching qualified clinical talent with patient care needs across diverse care settings.

The company’s core service offerings include travel nurse and allied health staffing, per diem staffing, permanent placement services, and managed services programs.