Cross Country Healthcare (NASDAQ:CCRN) Issues Earnings Results

Cross Country Healthcare (NASDAQ:CCRN) announced its quarterly earnings results on Wednesday. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01), FiscalAI reports. The business had revenue of $250.06 million during the quarter, compared to the consensus estimate of $270.72 million. Cross Country Healthcare had a positive return on equity of 1.72% and a negative net margin of 0.70%.

Cross Country Healthcare Price Performance

Shares of NASDAQ:CCRN opened at $12.65 on Thursday. The company’s 50 day simple moving average is $13.01 and its 200 day simple moving average is $13.20. Cross Country Healthcare has a 1 year low of $9.58 and a 1 year high of $18.33. The stock has a market capitalization of $414.41 million, a price-to-earnings ratio of -48.65, a price-to-earnings-growth ratio of 8.87 and a beta of 0.45.

Institutional Investors Weigh In On Cross Country Healthcare

A number of institutional investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. grew its holdings in Cross Country Healthcare by 4.0% during the 2nd quarter. Alliancebernstein L.P. now owns 2,438,282 shares of the business services provider’s stock worth $31,820,000 after acquiring an additional 94,798 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Cross Country Healthcare by 56.9% during 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 in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Cross Country Healthcare by 19.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 598,247 shares of the business services provider’s stock valued at $7,807,000 after acquiring an additional 99,132 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Cross Country Healthcare by 42.8% during the third quarter. JPMorgan Chase & Co. now owns 294,845 shares of the business services provider’s stock worth $4,187,000 after acquiring an additional 88,407 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Cross Country Healthcare by 5.1% during the second quarter. Sei Investments Co. now owns 146,611 shares of the business services provider’s stock valued at $1,913,000 after purchasing an additional 7,175 shares during the period. 96.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CCRN has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Cross Country Healthcare to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings restated a “sell (d)” rating on shares of Cross Country Healthcare in a report on Wednesday, October 8th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cross Country Healthcare has an average rating of “Reduce” and a consensus target price of $17.91.

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.