Cross Country Healthcare Inc. (CCRN) Trading Down 13.7%
Cross Country Healthcare Inc. (NASDAQ:CCRN) dropped 13.7% during mid-day trading on Thursday . The company traded as low as $11.88 and last traded at $12.75, with a volume of 980,380 shares. The stock had previously closed at $14.77.
CCRN has been the subject of a number of research reports. TheStreet raised shares of Cross Country Healthcare from a “hold” rating to a “buy” rating in a report on Wednesday, May 4th. Zacks Investment Research raised shares of Cross Country Healthcare from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Tuesday, July 5th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating on shares of Cross Country Healthcare in a report on Sunday, July 17th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $18.33.
The stock’s 50 day moving average price is $14.63 and its 200 day moving average price is $13.23. The stock has a market capitalization of $427.93 million and a PE ratio of 66.62.
Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. The business earned $199.40 million during the quarter, compared to analysts’ expectations of $203.56 million. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 EPS. On average, equities research analysts expect that Cross Country Healthcare Inc. will post $0.71 EPS for the current fiscal year.
In other news, SVP Deborah A. Dean sold 6,868 shares of Cross Country Healthcare stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $14.34, for a total value of $98,487.12. Following the transaction, the senior vice president now directly owns 46,214 shares of the company’s stock, valued at approximately $662,708.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Several institutional investors have recently added to or reduced their stakes in CCRN. I.G. Investment Management LTD. raised its position in Cross Country Healthcare by 12.2% in the fourth quarter. I.G. Investment Management LTD. now owns 76,136 shares of the company’s stock valued at $1,248,000 after buying an additional 8,253 shares in the last quarter. Systematic Financial Management LP purchased a new position in Cross Country Healthcare during the fourth quarter valued at $1,651,000. Bank of Montreal Can raised its position in Cross Country Healthcare by 19,623.6% in the fourth quarter. Bank of Montreal Can now owns 313,606 shares of the company’s stock valued at $5,139,000 after buying an additional 312,016 shares in the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in Cross Country Healthcare during the fourth quarter valued at $1,062,000. Finally, California Public Employees Retirement System raised its position in Cross Country Healthcare by 21.9% in the fourth quarter. California Public Employees Retirement System now owns 130,700 shares of the company’s stock valued at $2,142,000 after buying an additional 23,500 shares in the last quarter.
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.
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