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

Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) have been given an average rating of “Reduce” by the ten brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and nine have given a hold 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 $12.72.

Several research analysts have commented on CCRN shares. Weiss Ratings restated a “sell (e+)” rating on shares of Cross Country Healthcare in a report on Friday, March 27th. Citizens Jmp lowered shares of Cross Country Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Wedbush cut shares of Cross Country Healthcare from an “outperform” rating to a “hold” rating and reduced their price target for the company from $15.00 to $13.25 in a research report on Thursday, May 7th. Benchmark downgraded shares of Cross Country Healthcare from a “buy” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Cross Research set a $14.00 price objective on shares of Cross Country Healthcare in a report on Thursday, March 5th.

Cross Country Healthcare Stock Performance

Shares of CCRN stock opened at $13.08 on Wednesday. Cross Country Healthcare has a fifty-two week low of $7.43 and a fifty-two week high of $14.99. The firm has a market cap of $422.88 million, a P/E ratio of -4.29, a P/E/G ratio of 13.38 and a beta of 0.35. The business’s 50 day moving average price is $10.66 and its 200-day moving average price is $9.71.

Cross Country Healthcare (NASDAQ:CCRN) last announced its earnings results on Thursday, May 7th. The business services provider reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Cross Country Healthcare had a negative return on equity of 0.74% and a negative net margin of 9.84%.The company had revenue of $241.06 million during the quarter, compared to the consensus estimate of $237.07 million. As a group, equities analysts predict that Cross Country Healthcare will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Quinn Opportunity Partners LLC bought a new stake in shares of Cross Country Healthcare during the fourth quarter valued at approximately $8,470,000. Boston Partners bought a new position in Cross Country Healthcare in the fourth quarter worth $6,414,000. Dana Investment Advisors Inc. raised its holdings in Cross Country Healthcare by 71.2% in the fourth quarter. Dana Investment Advisors Inc. now owns 1,008,525 shares of the business services provider’s stock worth $8,169,000 after purchasing an additional 419,429 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Cross Country Healthcare by 56.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,095,178 shares of the business services provider’s stock worth $16,307,000 after purchasing an additional 397,216 shares in the last quarter. Finally, Royce & Associates LP bought a new position in Cross Country Healthcare in the fourth quarter worth $3,208,000. Hedge funds and other institutional investors 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.