Cross Country Healthcare (NASDAQ:CCRN) Price Target Cut to $15.00 by Analysts at Truist Financial

Cross Country Healthcare (NASDAQ:CCRN) had its price objective reduced by Truist Financial from $17.00 to $15.00 in a report issued on Monday morning, Benzinga reports. Truist Financial currently has a hold rating on the business services provider’s stock.

Separately, Barrington Research cut their target price on shares of Cross Country Healthcare from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.20.

Cross Country Healthcare Stock Performance

NASDAQ:CCRN opened at $11.81 on Monday. The stock has a 50-day simple moving average of $13.62 and a 200 day simple moving average of $14.80. Cross Country Healthcare has a one year low of $11.64 and a one year high of $23.64. The company has a market capitalization of $410.68 million, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 2.37 and a beta of 0.63.

Cross Country Healthcare (NASDAQ:CCRN) last issued its earnings results on Wednesday, July 31st. The business services provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Cross Country Healthcare had a return on equity of 7.29% and a net margin of 0.54%. The business had revenue of $339.77 million during the quarter, compared to the consensus estimate of $334.75 million. During the same period in the prior year, the business earned $0.69 EPS. The business’s revenue was down 37.2% on a year-over-year basis. On average, equities research analysts forecast that Cross Country Healthcare will post 0.52 EPS for the current fiscal year.

Insider Activity

In other news, insider Karen Mote sold 13,829 shares of Cross Country Healthcare stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $17.08, for a total transaction of $236,199.32. Following the sale, the insider now owns 24,696 shares of the company’s stock, valued at approximately $421,807.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Cynthia Ann Grieco sold 1,945 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $17.21, for a total transaction of $33,473.45. Following the sale, the vice president now owns 7,605 shares of the company’s stock, valued at $130,882.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karen Mote sold 13,829 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $17.08, for a total value of $236,199.32. Following the sale, the insider now directly owns 24,696 shares in the company, valued at approximately $421,807.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Cross Country Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCRN. Pacer Advisors Inc. raised its holdings in Cross Country Healthcare by 3.8% during the second quarter. Pacer Advisors Inc. now owns 4,550,848 shares of the business services provider’s stock worth $62,984,000 after purchasing an additional 165,032 shares in the last quarter. Boston Partners bought a new stake in Cross Country Healthcare during the first quarter worth approximately $2,511,000. American Century Companies Inc. raised its holdings in Cross Country Healthcare by 15.9% during the second quarter. American Century Companies Inc. now owns 772,834 shares of the business services provider’s stock worth $10,696,000 after purchasing an additional 106,226 shares in the last quarter. Dana Investment Advisors Inc. grew its position in Cross Country Healthcare by 34.7% in the second quarter. Dana Investment Advisors Inc. now owns 404,370 shares of the business services provider’s stock worth $5,596,000 after buying an additional 104,136 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Cross Country Healthcare by 39.9% in the second quarter. AQR Capital Management LLC now owns 322,483 shares of the business services provider’s stock worth $4,463,000 after buying an additional 92,011 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

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.