Kestrel Investment Management Corp Lowers Holdings in Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Kestrel Investment Management Corp cut its position in Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 18.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,500 shares of the business services provider’s stock after selling 38,100 shares during the quarter. Cross Country Healthcare comprises 2.6% of Kestrel Investment Management Corp’s investment portfolio, making the stock its 18th biggest position. Kestrel Investment Management Corp owned about 0.49% of Cross Country Healthcare worth $3,860,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. US Bancorp DE bought a new position in shares of Cross Country Healthcare in the 1st quarter worth $27,000. Point72 Hong Kong Ltd bought a new position in shares of Cross Country Healthcare in the 1st quarter worth $35,000. Coppell Advisory Solutions Corp. bought a new position in shares of Cross Country Healthcare in the 4th quarter worth $39,000. Captrust Financial Advisors increased its holdings in shares of Cross Country Healthcare by 26.4% in the 1st quarter. Captrust Financial Advisors now owns 3,074 shares of the business services provider’s stock worth $67,000 after buying an additional 642 shares during the last quarter. Finally, Fortis Capital Advisors LLC bought a new position in shares of Cross Country Healthcare in the 4th quarter worth $84,000. Institutional investors own 96.03% of the company’s stock.

Insider Transactions at Cross Country Healthcare

In other news, insider Karen Mote sold 6,216 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $16.95, for a total value of $105,361.20. Following the completion of the sale, the insider now directly owns 35,101 shares of the company’s stock, valued at approximately $594,961.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CCRN shares. Truist Financial reduced 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. Benchmark reduced their target price on shares of Cross Country Healthcare from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. TheStreet lowered shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a report on Friday, March 1st. Finally, Barrington Research reduced their target price on shares of Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.67.

Cross Country Healthcare Price Performance

CCRN traded up $0.37 during trading on Friday, hitting $17.50. 182,589 shares of the stock traded hands, compared to its average volume of 458,854. The firm has a market capitalization of $606.90 million, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 1.79 and a beta of 0.75. The firm has a 50-day moving average of $18.22 and a 200 day moving average of $20.55. Cross Country Healthcare, Inc. has a 12-month low of $15.65 and a 12-month high of $28.75.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. Cross Country Healthcare had a net margin of 3.60% and a return on equity of 16.93%. The business had revenue of $414.04 million during the quarter, compared to analysts’ expectations of $404.42 million. During the same quarter in the prior year, the company posted $1.09 EPS. The firm’s revenue for the quarter was down 34.1% compared to the same quarter last year. As a group, equities analysts predict that Cross Country Healthcare, Inc. will post 0.94 EPS 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.