Cross Country Healthcare (NASDAQ:CCRN) Shares Down 4.1% After Analyst Downgrade

Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) were down 4.1% during trading on Monday after Barrington Research lowered their price target on the stock from $24.00 to $21.00. Barrington Research currently has an outperform rating on the stock. Cross Country Healthcare traded as low as $15.98 and last traded at $15.98. Approximately 169,240 shares changed hands during trading, a decline of 62% from the average daily volume of 448,589 shares. The stock had previously closed at $16.67.

A number of other research firms also recently weighed in on CCRN. Benchmark dropped their target price on Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Truist Financial dropped their price objective on Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating for the company in a report on Thursday, February 22nd. Finally, TheStreet lowered shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a research note on Friday, March 1st. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Cross Country Healthcare currently has a consensus rating of “Hold” and a consensus price target of $20.83.

Insider Buying and Selling at Cross Country Healthcare

In other news, insider Karen Mote sold 6,216 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $16.95, for a total transaction of $105,361.20. Following the completion of the transaction, the insider now directly owns 35,101 shares in the company, valued at approximately $594,961.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.90% of the company’s stock.

Institutional Trading of Cross Country Healthcare

Large investors have recently made changes to their positions in the company. Wasatch Advisors LP grew its stake in Cross Country Healthcare by 74.3% in the fourth quarter. Wasatch Advisors LP now owns 2,193,604 shares of the business services provider’s stock valued at $49,663,000 after acquiring an additional 934,841 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Cross Country Healthcare by 50.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,489,580 shares of the business services provider’s stock valued at $56,364,000 after purchasing an additional 834,941 shares in the last quarter. LSV Asset Management grew its position in shares of Cross Country Healthcare by 218.0% in the 3rd quarter. LSV Asset Management now owns 343,678 shares of the business services provider’s stock valued at $8,520,000 after purchasing an additional 235,600 shares during the period. Kestrel Investment Management Corp bought a new stake in Cross Country Healthcare during the 3rd quarter worth approximately $5,171,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Cross Country Healthcare by 80.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 401,887 shares of the business services provider’s stock worth $9,963,000 after buying an additional 179,093 shares during the period. Institutional investors own 96.03% of the company’s stock.

Cross Country Healthcare Price Performance

The stock has a market cap of $571.68 million, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77. The stock’s 50 day simple moving average is $17.86 and its two-hundred day simple moving average is $19.90.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $379.17 million for the quarter, compared to analyst estimates of $374.38 million. Cross Country Healthcare had a net margin of 2.58% and a return on equity of 11.69%. The firm’s quarterly revenue was down 39.1% on a year-over-year basis. During the same period last year, the business posted $0.84 earnings per share. As a group, analysts forecast that Cross Country Healthcare, Inc. will post 0.77 earnings per share for the current fiscal year.

About Cross Country Healthcare

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.