Cross Country Healthcare (NASDAQ:CCRN) Downgraded to “Hold” Rating by Wedbush

Wedbush lowered shares of Cross Country Healthcare (NASDAQ:CCRN) from an outperform rating to a hold rating in a report released on Thursday morning, MarketBeat reports. Wedbush currently has $13.25 target price on the business services provider’s stock, down from their previous target price of $15.00.

CCRN has been the subject of several other reports. Benchmark raised Cross Country Healthcare from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Thursday, March 5th. Cross Research set a $14.00 price objective on Cross Country Healthcare in a report on Thursday, March 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Cross Country Healthcare in a research note on Friday, March 27th. Finally, Zacks Research upgraded shares of Cross Country Healthcare from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Two equities research 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.31.

Cross Country Healthcare Stock Performance

NASDAQ:CCRN traded up $0.06 on Thursday, hitting $13.15. The stock had a trading volume of 1,170,927 shares, compared to its average volume of 566,780. Cross Country Healthcare has a 1 year low of $7.43 and a 1 year high of $14.99. The firm’s fifty day simple moving average is $9.69 and its two-hundred day simple moving average is $9.66. The stock has a market cap of $423.27 million, a P/E ratio of -4.49, a price-to-earnings-growth ratio of 10.64 and a beta of 0.35.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings data on Thursday, May 7th. The business services provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. Cross Country Healthcare had a positive return on equity of 0.13% and a negative net margin of 9.00%.The business had revenue of $241.06 million during the quarter, compared to analyst estimates of $236.84 million. Equities research analysts predict that Cross Country Healthcare will post 0.09 EPS for the current year.

Institutional Investors Weigh In On Cross Country Healthcare

A number of hedge funds have recently made changes to their positions in CCRN. BNP Paribas Financial Markets grew its stake in shares of Cross Country Healthcare by 50.0% in the second quarter. BNP Paribas Financial Markets now owns 3,424 shares of the business services provider’s stock worth $45,000 after purchasing an additional 1,142 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Cross Country Healthcare by 422.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,586 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 2,899 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Cross Country Healthcare during the 4th quarter valued at about $46,000. Vazirani Asset Management LLC purchased a new position in Cross Country Healthcare during the 3rd quarter valued at about $142,000. Finally, Graham Capital Management L.P. purchased a new position in Cross Country Healthcare during the 4th quarter valued at about $83,000. 96.03% of the stock is currently owned by institutional investors.

Cross Country Healthcare Company Profile

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.