BidaskClub Lowers Cross Country Healthcare (NASDAQ:CCRN) to Hold

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BidaskClub cut shares of Cross Country Healthcare (NASDAQ:CCRN) from a buy rating to a hold rating in a research note issued to investors on Friday morning, BidAskClub reports.

Other analysts have also recently issued reports about the company. ValuEngine upgraded Zynerba Pharmaceuticals from a sell rating to a hold rating in a report on Monday, April 1st. Barrington Research set a $10.00 target price on Atento and gave the company a buy rating in a report on Monday, May 20th. Finally, Zacks Investment Research upgraded HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $9.83.

Shares of CCRN stock opened at $9.02 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.35. The firm has a market cap of $331.84 million, a P/E ratio of 75.17, a price-to-earnings-growth ratio of 17.32 and a beta of 1.24. The stock’s 50 day simple moving average is $8.57. Cross Country Healthcare has a 1-year low of $6.75 and a 1-year high of $12.12.

Cross Country Healthcare (NASDAQ:CCRN) last issued its earnings results on Wednesday, May 1st. The business services provider reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.06. The company had revenue of $195.10 million during the quarter, compared to analysts’ expectations of $198.47 million. Cross Country Healthcare had a positive return on equity of 1.19% and a negative net margin of 2.54%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 EPS. On average, research analysts forecast that Cross Country Healthcare will post 0.05 EPS for the current year.

In other Cross Country Healthcare news, CEO Kevin Cronin Clark purchased 8,330 shares of the stock in a transaction dated Friday, June 14th. The stock was acquired at an average cost of $8.00 per share, for a total transaction of $66,640.00. Following the acquisition, the chief executive officer now owns 250,734 shares in the company, valued at approximately $2,005,872. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Cross Country Healthcare by 3.4% during the 4th quarter. BlackRock Inc. now owns 5,257,750 shares of the business services provider’s stock valued at $38,540,000 after acquiring an additional 175,006 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Cross Country Healthcare by 6.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,387,342 shares of the business services provider’s stock valued at $17,499,000 after acquiring an additional 155,059 shares during the period. JPMorgan Chase & Co. boosted its holdings in Cross Country Healthcare by 38.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,815,353 shares of the business services provider’s stock valued at $12,762,000 after acquiring an additional 504,192 shares during the period. Systematic Financial Management LP boosted its holdings in Cross Country Healthcare by 45.6% during the 1st quarter. Systematic Financial Management LP now owns 1,717,400 shares of the business services provider’s stock valued at $12,073,000 after acquiring an additional 538,160 shares during the period. Finally, Royce & Associates LP boosted its holdings in Cross Country Healthcare by 8.6% during the 1st quarter. Royce & Associates LP now owns 1,216,811 shares of the business services provider’s stock valued at $8,554,000 after acquiring an additional 96,500 shares during the period. Institutional investors own 93.67% of the company’s stock.

About Cross Country Healthcare

Cross Country Healthcare, Inc provides healthcare staffing, recruiting, and workforce solutions in the United States. The company operates in three segments: Nurse and Allied Staffing, Physician Staffing, and Other Human Capital Management Services. The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, branch-based local nurses, and allied staffing; short-term staffing of registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and travel allied professionals on long-term contract assignments.

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