Cross Country Healthcare Inc. (CCRN) Downgraded to “Sell” at Zacks Investment Research
Cross Country Healthcare Inc. (NASDAQ:CCRN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Cross Country, Inc. is a provider of healthcare staffing services. They also provide staffing of clinical research professionals and allied healthcare professionals, such as radiology technicians, rehabilitation therapists and respiratory therapists. Their staffing operations are complemented by other human capital management services, including search and recruitment, consulting, education and training and resource management services. “
A number of other equities analysts have also recently issued reports on the company. Cantor Fitzgerald reiterated a “buy” rating and issued a $17.00 price objective on shares of Cross Country Healthcare in a report on Sunday, August 7th. TheStreet cut Cross Country Healthcare from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $16.00 price objective on shares of Cross Country Healthcare in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $16.33.
Shares of Cross Country Healthcare (NASDAQ:CCRN) traded down 1.70% during midday trading on Tuesday, reaching $12.16. The company’s stock had a trading volume of 77,752 shares. Cross Country Healthcare has a 52-week low of $9.72 and a 52-week high of $18.76. The stock has a 50-day moving average price of $12.05 and a 200-day moving average price of $13.10. The stock’s market cap is $401.09 million.
Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. Cross Country Healthcare had a return on equity of 25.27% and a net margin of 0.09%. The firm earned $199.40 million during the quarter, compared to analysts’ expectations of $203.56 million. During the same period in the prior year, the business earned $0.10 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Cross Country Healthcare will post $0.62 earnings per share for the current fiscal year.
In related news, Director Thomas C. Dircks bought 10,000 shares of the stock in a transaction dated Wednesday, August 17th. The stock was bought at an average price of $10.75 per share, with a total value of $107,500.00. Following the purchase, the director now owns 95,264 shares in the company, valued at approximately $1,024,088. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director W Larry Cash bought 3,000 shares of the stock in a transaction dated Friday, August 12th. The stock was bought at an average cost of $12.22 per share, with a total value of $36,660.00. Following the purchase, the director now owns 99,253 shares in the company, valued at approximately $1,212,871.66. The disclosure for this purchase can be found here. 4.20% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in CCRN. Prudential Financial Inc. raised its stake in Cross Country Healthcare by 1.7% in the first quarter. Prudential Financial Inc. now owns 76,528 shares of the company’s stock worth $890,000 after buying an additional 1,300 shares during the period. JPMorgan Chase & Co. raised its stake in Cross Country Healthcare by 0.6% in the first quarter. JPMorgan Chase & Co. now owns 2,940,651 shares of the company’s stock worth $34,200,000 after buying an additional 17,675 shares during the period. Wellington Management Group LLP raised its stake in Cross Country Healthcare by 528.5% in the first quarter. Wellington Management Group LLP now owns 2,816,921 shares of the company’s stock worth $32,760,000 after buying an additional 2,368,747 shares during the period. Kennedy Capital Management Inc. raised its stake in Cross Country Healthcare by 53.8% in the first quarter. Kennedy Capital Management Inc. now owns 189,536 shares of the company’s stock worth $2,204,000 after buying an additional 66,338 shares during the period. Finally, Wealthsource Partners LLC bought a new stake in Cross Country Healthcare during the first quarter worth $145,000. 96.46% of the stock is owned by institutional investors.
About Cross Country Healthcare
Cross Country Healthcare, Inc (CCRN) is engaged in providing healthcare recruiting, staffing and workforce solutions. The Company operates in three segments: Nurse and Allied Staffing, Physician Staffing and Other Human Capital Management Services. Its nurse and allied staffing segment is engaged in providing traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, and branch-based local nurses and allied staffing through its Cross Country Staffing brand, MSN, AHG, Mediscan and DirectEd brands.
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