Cross Country Healthcare (NASDAQ:CCRN) Posts Earnings Results, Misses Expectations By $0.09 EPS

Cross Country Healthcare (NASDAQ:CCRN) released its quarterly earnings results on Wednesday. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.09), FiscalAI reports. The business had revenue of $236.76 million during the quarter, compared to the consensus estimate of $254.30 million. Cross Country Healthcare had a negative net margin of 1.39% and a positive return on equity of 0.95%.

Cross Country Healthcare Stock Up 1.7%

Shares of NASDAQ:CCRN traded up $0.15 during midday trading on Wednesday, hitting $9.13. The stock had a trading volume of 604,079 shares, compared to its average volume of 536,583. The company has a market cap of $299.10 million, a P/E ratio of -18.63, a PEG ratio of 6.49 and a beta of 0.42. Cross Country Healthcare has a 12 month low of $7.43 and a 12 month high of $17.02. The business’s 50-day simple moving average is $8.60 and its 200-day simple moving average is $10.78.

Hedge Funds Weigh In On Cross Country Healthcare

A number of institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. lifted its position in shares of Cross Country Healthcare by 4.0% in the second quarter. Alliancebernstein L.P. now owns 2,438,282 shares of the business services provider’s stock valued at $31,820,000 after buying an additional 94,798 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Cross Country Healthcare by 56.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,095,178 shares of the business services provider’s stock valued at $16,307,000 after acquiring an additional 397,216 shares in the last quarter. Quinn Opportunity Partners LLC bought a new position in Cross Country Healthcare during the fourth quarter worth about $8,470,000. Charles Schwab Investment Management Inc. raised its stake in Cross Country Healthcare by 28.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 969,458 shares of the business services provider’s stock worth $7,853,000 after purchasing an additional 211,925 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Cross Country Healthcare by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 893,620 shares of the business services provider’s stock worth $7,240,000 after buying an additional 14,733 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cross Country Healthcare in a research report on Monday, December 29th. Zacks Research upgraded shares of Cross Country Healthcare from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Wedbush began coverage on shares of Cross Country Healthcare in a report on Tuesday, February 3rd. They issued a “neutral” rating and a $11.00 price target for the company. Benchmark reaffirmed a “hold” rating on shares of Cross Country Healthcare in a research note on Monday, December 8th. Finally, UBS Group dropped their price target on Cross Country Healthcare from $16.50 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 9th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cross Country Healthcare has a consensus rating of “Hold” and a consensus target price of $11.38.

About Cross Country Healthcare

Cross Country Healthcare, Inc, headquartered in Boca Raton, Florida, is a leading provider of healthcare workforce solutions in the United States. The company specializes in the recruitment, placement and management of nursing and allied health professionals on both a travel and permanent basis. Through its integrated platform, Cross Country Healthcare serves hospitals, health systems, and long-term care facilities by matching qualified clinical talent with patient care needs across diverse care settings.

The company’s core service offerings include travel nurse and allied health staffing, per diem staffing, permanent placement services, and managed services programs.