Cross Country Healthcare (NASDAQ:CCRN) Given New $19.00 Price Target at Benchmark

Cross Country Healthcare (NASDAQ:CCRN) had its target price lowered by Benchmark from $21.00 to $19.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Benchmark’s price target would suggest a potential upside of 8.39% from the stock’s previous close.

A number of other equities analysts have also commented on CCRN. Truist Financial dropped their price target on Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd. Barrington Research dropped their price objective on Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Finally, TheStreet downgraded shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a research note on Friday, March 1st. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Cross Country Healthcare presently has an average rating of “Hold” and an average price target of $21.33.

Cross Country Healthcare Stock Down 2.1 %

CCRN traded down $0.37 during mid-day trading on Thursday, reaching $17.53. 508,462 shares of the company traded hands, compared to its average volume of 442,816. The stock has a market capitalization of $607.94 million, a P/E ratio of 8.75, a P/E/G ratio of 1.91 and a beta of 0.77. Cross Country Healthcare has a 52-week low of $15.65 and a 52-week high of $28.75. The company’s fifty day moving average price is $17.94 and its 200-day moving average price is $20.10.

Cross Country Healthcare (NASDAQ:CCRN) last posted its earnings results on Wednesday, May 1st. The business services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. Cross Country Healthcare had a return on equity of 16.93% and a net margin of 3.60%. The company had revenue of $379.17 million for the quarter, compared to the consensus estimate of $374.38 million. During the same quarter in the prior year, the company earned $0.84 earnings per share. Cross Country Healthcare’s revenue was down 39.1% on a year-over-year basis. As a group, sell-side analysts forecast that Cross Country Healthcare will post 0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Cross Country Healthcare

In other news, insider Karen Mote sold 6,216 shares of the stock in a transaction on Friday, March 15th. The stock was 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 owns 35,101 shares in the company, valued at $594,961.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in shares of Cross Country Healthcare during the fourth quarter worth $28,000. Gladius Capital Management LP lifted its holdings in shares of 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 valued at $43,000 after purchasing an additional 515 shares in the last quarter. Denali Advisors LLC boosted its holdings in shares of Cross Country Healthcare by 3,885.5% in the first quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider’s stock valued at $103,000 after buying an additional 5,362 shares during the period. Aigen Investment Management LP bought a new position in shares of Cross Country Healthcare during the third quarter worth about $219,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Cross Country Healthcare by 212.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,089 shares of the business services provider’s stock worth $226,000 after acquiring an additional 8,225 shares in 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.