Cross Country Healthcare (NASDAQ:CCRN) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Cross Country Healthcare, Inc. (NASDAQ:CCRN)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.55 and traded as high as $13.24. Cross Country Healthcare shares last traded at $13.24, with a volume of 213,259 shares traded.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citizens Jmp lowered shares of Cross Country Healthcare from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Wedbush downgraded shares of Cross Country Healthcare from an “outperform” rating to a “hold” rating and lowered their price target for the stock from $15.00 to $13.25 in a report on Thursday, May 7th. Citigroup lowered shares of Cross Country Healthcare from a “market outperform” rating to a “market perform” rating in a research report on Thursday, May 7th. Weiss Ratings lowered shares of Cross Country Healthcare from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. Finally, Barrington Research reaffirmed a “market perform” rating and issued a $13.25 price objective on shares of Cross Country Healthcare in a report on Monday, June 8th. Nine equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $12.05.

Cross Country Healthcare Stock Up 0.2%

The firm has a market capitalization of $427.78 million, a PE ratio of -4.34, a PEG ratio of 14.29 and a beta of 0.45. The stock has a 50-day moving average price of $13.16 and a 200 day moving average price of $10.55.

Cross Country Healthcare (NASDAQ:CCRN) last announced its earnings results on Thursday, May 7th. The business services provider reported ($0.03) earnings per share (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 firm had revenue of $241.06 million for the quarter, compared to analyst estimates of $237.06 million. As a group, equities analysts predict that Cross Country Healthcare, Inc. will post 0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cross Country Healthcare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. grew its position in shares of Cross Country Healthcare by 4.0% in the second quarter. Alliancebernstein L.P. now owns 2,438,282 shares of the business services provider’s stock valued at $31,820,000 after purchasing an additional 94,798 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Cross Country Healthcare by 56.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,095,178 shares of the business services provider’s stock worth $16,307,000 after buying an additional 397,216 shares during the last quarter. Quinn Opportunity Partners LLC acquired a new stake in Cross Country Healthcare in the 4th quarter worth about $8,470,000. Dana Investment Advisors Inc. increased its stake in Cross Country Healthcare by 71.2% during the 4th quarter. Dana Investment Advisors Inc. now owns 1,008,525 shares of the business services provider’s stock worth $8,169,000 after buying an additional 419,429 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Cross Country Healthcare by 28.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 969,458 shares of the business services provider’s stock worth $7,853,000 after buying an additional 211,925 shares in the last quarter. 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.