Cross Country Healthcare, Inc. (NASDAQ:CCRN) Given Average Recommendation of "Reduce" by Analysts

Key Points

• Cross Country Healthcare, Inc. (NASDAQ:CCRN) has received an average recommendation of "Reduce" from analysts, with one sell rating and six hold ratings.
• The stock is currently trading at $12.50 with a market capitalization of $409.50 million and a 52-week price range between $9.58 and $18.33.
• Institutional investors own over 96% of the company's stock, with notable increases in stakes from firms such as Alliancebernstein and Alpine Associates Management.

Cross Country Healthcare, Inc. (NASDAQ:CCRN - Get Free Report) has earned an average recommendation of "Reduce" from the seven research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $17.93.

Several brokerages recently weighed in on CCRN. Wall Street Zen raised shares of Cross Country Healthcare to a "hold" rating in a research note on Saturday, August 9th. Weiss Ratings reissued a "sell (d)" rating on shares of Cross Country Healthcare in a research note on Wednesday, October 8th. Finally, Barrington Research reissued a "market perform" rating and issued a $18.61 target price on shares of Cross Country Healthcare in a research note on Tuesday, June 17th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its stake in shares of Cross Country Healthcare by 82.4% during the 1st quarter. Alliancebernstein L.P. now owns 2,343,484 shares of the business services provider's stock valued at $34,894,000 after acquiring an additional 1,058,544 shares during the last quarter. Alpine Associates Management Inc. increased its stake in shares of Cross Country Healthcare by 115.6% during the 1st quarter. Alpine Associates Management Inc. now owns 1,252,524 shares of the business services provider's stock valued at $18,650,000 after acquiring an additional 671,492 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Cross Country Healthcare by 56.9% during the 1st 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 during the last quarter. Pacer Advisors Inc. acquired a new position in shares of Cross Country Healthcare during the 1st quarter valued at about $5,853,000. Finally, Hsbc Holdings PLC increased its stake in shares of Cross Country Healthcare by 91.8% during the 1st quarter. Hsbc Holdings PLC now owns 793,258 shares of the business services provider's stock valued at $11,859,000 after acquiring an additional 379,683 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company's stock.

Cross Country Healthcare Stock Up 7.9%

NASDAQ:CCRN opened at $12.50 on Tuesday. The company has a market capitalization of $409.50 million, a PE ratio of -48.08, a price-to-earnings-growth ratio of 6.92 and a beta of 0.39. Cross Country Healthcare has a 52-week low of $9.58 and a 52-week high of $18.33. The stock has a fifty day simple moving average of $13.27 and a 200-day simple moving average of $13.46.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.08). Cross Country Healthcare had a positive return on equity of 1.72% and a negative net margin of 0.70%.The firm had revenue of $274.07 million for the quarter, compared to analyst estimates of $292.67 million. As a group, equities analysts anticipate that Cross Country Healthcare will post 0.53 earnings per share for the current year.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.

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