Zacks Investment Research cut shares of Cross Country Healthcare Inc. (NASDAQ:CCRN) from a hold rating to a sell rating in a report published on Tuesday morning.
According to Zacks, “Cross Country, Inc. is a provider of healthcare staffing services. They also provide staffing of clinical research professionals and allied healthcare professionals, such as radiology technicians, rehabilitation therapists and respiratory therapists. Their staffing operations are complemented by other human capital management services, including search and recruitment, consulting, education and training and resource management services. “
A number of other analysts also recently issued reports on CCRN. Cantor Fitzgerald reaffirmed a buy rating on shares of Cross Country Healthcare in a report on Sunday, July 17th. BMO Capital Markets reissued a buy rating and issued a $16.00 price objective on shares of Cross Country Healthcare in a report on Friday, August 5th. Finally, TheStreet downgraded shares of Cross Country Healthcare from a buy rating to a hold rating in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Cross Country Healthcare currently has a consensus rating of Hold and an average target price of $16.33.
Cross Country Healthcare (NASDAQ:CCRN) opened at 12.39 on Tuesday. Cross Country Healthcare has a 1-year low of $9.72 and a 1-year high of $18.76. The firm has a 50-day moving average of $12.09 and a 200-day moving average of $13.10. The stock’s market cap is $408.67 million.
Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $199.40 million for the quarter, compared to the consensus estimate of $203.56 million. Cross Country Healthcare had a net margin of 0.09% and a return on equity of 25.27%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 EPS. Analysts expect that Cross Country Healthcare will post $0.62 EPS for the current fiscal year.
In other news, insider William J. Grubbs bought 10,000 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were bought at an average price of $12.03 per share, for a total transaction of $120,300.00. Following the purchase, the insider now owns 347,892 shares in the company, valued at $4,185,140.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director W Larry Cash bought 3,000 shares of the firm’s stock in a transaction on Friday, August 12th. The shares were purchased at an average price of $12.22 per share, for a total transaction of $36,660.00. Following the purchase, the director now owns 99,253 shares in the company, valued at approximately $1,212,871.66. The disclosure for this purchase can be found here. 4.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Cross Country Healthcare by 528.5% in the first quarter. Wellington Management Group LLP now owns 2,816,921 shares of the company’s stock worth $32,760,000 after buying an additional 2,368,747 shares during the last quarter. Chartwell Investment Partners LLC purchased a new stake in Cross Country Healthcare during the second quarter worth approximately $10,195,000. Bank of Montreal Can purchased a new stake in Cross Country Healthcare during the second quarter worth approximately $5,777,000. Emerald Acquisition Ltd. purchased a new stake in Cross Country Healthcare during the second quarter worth approximately $4,880,000. Finally, Royal Bank of Canada boosted its stake in Cross Country Healthcare by 85.1% in the second quarter. Royal Bank of Canada now owns 715,457 shares of the company’s stock worth $9,960,000 after buying an additional 328,838 shares during the last quarter. Institutional investors own 96.63% of the company’s stock.
About Cross Country Healthcare
Cross Country Healthcare, Inc (CCRN) is engaged in providing healthcare recruiting, staffing and workforce solutions. The Company operates in three segments: Nurse and Allied Staffing, Physician Staffing and Other Human Capital Management Services. Its nurse and allied staffing segment is engaged in providing traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, and branch-based local nurses and allied staffing through its Cross Country Staffing brand, MSN, AHG, Mediscan and DirectEd brands.