Barrington Research Trims Cross Country Healthcare (NASDAQ:CCRN) Target Price to $21.00

Cross Country Healthcare (NASDAQ:CCRN) had its price target reduced by equities researchers at Barrington Research from $24.00 to $21.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Barrington Research’s target price would indicate a potential upside of 26.81% from the company’s previous close.

Several other equities analysts have also commented on the stock. TheStreet lowered shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a report on Friday, March 1st. Truist Financial decreased their target price on shares of Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. Finally, Benchmark decreased their target price on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.83.

Cross Country Healthcare Stock Down 0.7 %

Shares of NASDAQ CCRN traded down $0.11 during mid-day trading on Monday, reaching $16.56. 36,645 shares of the company were exchanged, compared to its average volume of 447,359. The company’s 50-day simple moving average is $17.92 and its 200-day simple moving average is $19.99. The stock has a market capitalization of $575.79 million, a P/E ratio of 12.78, a P/E/G ratio of 2.17 and a beta of 0.77. Cross Country Healthcare has a twelve month low of $15.65 and a twelve month high of $28.75.

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

Insider Activity at Cross Country Healthcare

In related news, insider Karen Mote sold 6,216 shares of Cross Country Healthcare stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $16.95, for a total transaction of $105,361.20. Following the sale, the insider now directly owns 35,101 shares of the company’s stock, valued at approximately $594,961.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cross Country Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in Cross Country Healthcare during the 4th quarter worth approximately $28,000. Gladius Capital Management LP grew its holdings in Cross Country Healthcare by 37.1% during the 4th quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock worth $43,000 after acquiring an additional 515 shares during the last quarter. Denali Advisors LLC grew its holdings in Cross Country Healthcare by 3,885.5% during the 1st quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider’s stock worth $103,000 after acquiring an additional 5,362 shares during the last quarter. Aigen Investment Management LP bought a new stake in Cross Country Healthcare during the 3rd quarter worth approximately $219,000. Finally, Truvestments Capital LLC grew its holdings in Cross Country Healthcare by 26.1% during the 3rd quarter. Truvestments Capital LLC now owns 9,721 shares of the business services provider’s stock worth $241,000 after acquiring an additional 2,013 shares during the last quarter. 96.03% of the stock is owned by institutional investors.

Cross Country Healthcare Company Profile

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.