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

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

Cross Country Healthcare Stock Up 1.7%

NASDAQ CCRN traded up $0.15 during trading hours on Wednesday, reaching $9.13. 604,079 shares of the company were exchanged, compared to its average volume of 536,583. The stock has a market capitalization of $299.10 million, a P/E ratio of -18.63, a P/E/G ratio of 6.49 and a beta of 0.42. Cross Country Healthcare has a 1 year low of $7.43 and a 1 year 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.

Analysts Set New Price Targets

CCRN has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cross Country Healthcare in a report on Monday, December 29th. Truist Financial set a $10.00 target price on Cross Country Healthcare in a research report on Tuesday, December 16th. Citizens Jmp set a $11.00 price target on Cross Country Healthcare in a report on Thursday, December 4th. UBS Group lowered their target price 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. Finally, Jefferies Financial Group set a $8.65 price target on shares of Cross Country Healthcare and gave the company a “hold” rating in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.38.

Institutional Investors Weigh In On Cross Country Healthcare

A number of hedge funds have recently modified their holdings of CCRN. BNP Paribas Financial Markets grew its holdings in Cross Country Healthcare by 50.0% during the second quarter. BNP Paribas Financial Markets now owns 3,424 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 1,142 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Cross Country Healthcare during the fourth quarter valued at approximately $46,000. Tower Research Capital LLC TRC increased its holdings in shares of Cross Country Healthcare by 422.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,586 shares of the business services provider’s stock worth $47,000 after purchasing an additional 2,899 shares during the period. Graham Capital Management L.P. bought a new stake in shares of Cross Country Healthcare during the 4th quarter valued at about $83,000. Finally, Brooklyn Investment Group lifted its position in Cross Country Healthcare by 25.4% during the fourth quarter. Brooklyn Investment Group now owns 13,267 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 2,684 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

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.