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

Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) have been assigned a consensus rating of “Reduce” from the ten ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $12.05.

CCRN has been the subject of several recent analyst reports. Citigroup downgraded Cross Country Healthcare from a “market outperform” rating to a “market perform” rating in a research report on Thursday, May 7th. Wedbush cut shares of Cross Country Healthcare from an “outperform” rating to a “hold” rating and dropped their target price for the stock from $15.00 to $13.25 in a report on Thursday, May 7th. Truist Financial raised their price target on shares of Cross Country Healthcare from $10.00 to $13.25 and gave the company a “hold” rating in a research note on Monday, May 11th. Weiss Ratings lowered shares of Cross Country Healthcare from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. Finally, Barrington Research reiterated a “market perform” rating and set a $13.25 price objective on shares of Cross Country Healthcare in a research report on Monday, June 8th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in shares of 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 valued at $45,000 after acquiring an additional 1,142 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Cross Country Healthcare by 422.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,586 shares of the business services provider’s stock worth $47,000 after purchasing an additional 2,899 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Cross Country Healthcare during the fourth quarter worth about $46,000. Vazirani Asset Management LLC acquired a new position in shares of Cross Country Healthcare in the third quarter valued at approximately $142,000. Finally, Graham Capital Management L.P. bought a new position in Cross Country Healthcare in the 4th quarter valued at approximately $83,000. 96.03% of the stock is currently owned by institutional investors.

Cross Country Healthcare Stock Performance

CCRN opened at $13.24 on Thursday. Cross Country Healthcare has a 52-week low of $7.43 and a 52-week high of $14.99. The firm has a market cap of $427.78 million, a P/E ratio of -4.34, a price-to-earnings-growth ratio of 14.29 and a beta of 0.45. The business’s fifty day moving average is $13.16 and its 200-day moving average is $10.55.

Cross Country Healthcare (NASDAQ:CCRN) last issued its earnings results on Thursday, May 7th. The business services provider reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. Cross Country Healthcare had a negative net margin of 9.84% and a negative return on equity of 0.74%. The company had revenue of $241.06 million during the quarter, compared to analysts’ expectations of $237.06 million. On average, research analysts predict that Cross Country Healthcare will post 0.09 earnings per share for the current fiscal year.

About Cross Country Healthcare

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.