Cross Country Healthcare (NASDAQ:CCRN) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Cross Country Healthcare, Inc. (NASDAQ:CCRN) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.33 and traded as high as $13.22. Cross Country Healthcare shares last traded at $13.22, with a volume of 192,115 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CCRN shares. Benchmark lowered Cross Country Healthcare from a “buy” rating to a “hold” rating in a research report on Friday, May 8th. Truist Financial increased their price objective on Cross Country Healthcare from $10.00 to $13.25 and gave the company a “hold” rating in a report on Monday, May 11th. Citizens Jmp lowered shares of Cross Country Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Citigroup cut shares of Cross Country Healthcare from a “market outperform” rating to a “market perform” rating in a report on Thursday, May 7th. Finally, Weiss Ratings cut shares of Cross Country Healthcare from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Nine analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $12.05.

Cross Country Healthcare Stock Performance

The business has a 50-day simple moving average of $12.80 and a two-hundred day simple moving average of $10.33. The company has a market capitalization of $427.14 million, a price-to-earnings ratio of -4.33, a PEG ratio of 14.27 and a beta of 0.45.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings data on Thursday, May 7th. The business services provider reported ($0.03) earnings per share (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 for the quarter, compared to analysts’ expectations of $237.06 million. Research analysts predict that Cross Country Healthcare, Inc. will post 0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CCRN. Bank of America Corp DE boosted its stake in shares of Cross Country Healthcare by 69.0% in the first quarter. Bank of America Corp DE now owns 579,937 shares of the business services provider’s stock valued at $5,451,000 after buying an additional 236,721 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Cross Country Healthcare by 44.1% during the 1st quarter. Royal Bank of Canada now owns 48,851 shares of the business services provider’s stock worth $459,000 after purchasing an additional 14,950 shares during the period. Quantinno Capital Management LP grew its stake in shares of Cross Country Healthcare by 43.1% during the 1st quarter. Quantinno Capital Management LP now owns 71,740 shares of the business services provider’s stock worth $674,000 after purchasing an additional 21,606 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Cross Country Healthcare by 67.2% in the 1st quarter. Lazard Asset Management LLC now owns 58,168 shares of the business services provider’s stock valued at $547,000 after purchasing an additional 23,374 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Cross Country Healthcare by 14.4% in the first quarter. Renaissance Technologies LLC now owns 245,400 shares of the business services provider’s stock valued at $2,307,000 after purchasing an additional 30,800 shares during the period. 96.03% of the stock is owned by hedge funds and other institutional investors.

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.