Federated Hermes Inc. Sells 201,991 Shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Federated Hermes Inc. cut its holdings in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) by 37.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 335,482 shares of the business services provider's stock after selling 201,991 shares during the quarter. Federated Hermes Inc. owned 0.95% of Cross Country Healthcare worth $7,595,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Pacer Advisors Inc. raised its stake in shares of Cross Country Healthcare by 50.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,489,580 shares of the business services provider's stock worth $56,364,000 after acquiring an additional 834,941 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Cross Country Healthcare by 3.6% during the third quarter. Principal Financial Group Inc. now owns 1,966,251 shares of the business services provider's stock worth $48,743,000 after acquiring an additional 69,013 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Cross Country Healthcare by 0.3% during the third quarter. Deutsche Bank AG now owns 717,762 shares of the business services provider's stock worth $17,793,000 after acquiring an additional 2,026 shares in the last quarter. Invesco Ltd. raised its stake in shares of Cross Country Healthcare by 1.8% during the third quarter. Invesco Ltd. now owns 558,302 shares of the business services provider's stock worth $13,840,000 after acquiring an additional 10,137 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Cross Country Healthcare by 80.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 401,887 shares of the business services provider's stock worth $9,963,000 after buying an additional 179,093 shares during the period. 96.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Karen Mote sold 6,216 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $16.95, for a total transaction of $105,361.20. Following the sale, the insider now directly owns 35,101 shares of the company's stock, valued at approximately $594,961.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.90% of the company's stock.

Cross Country Healthcare Price Performance

NASDAQ:CCRN traded down $0.17 during trading hours on Thursday, hitting $17.40. The company had a trading volume of 213,891 shares, compared to its average volume of 450,272. The company has a market capitalization of $603.43 million, a PE ratio of 8.66, a price-to-earnings-growth ratio of 1.93 and a beta of 0.75. The stock has a 50-day moving average price of $18.00 and a 200 day moving average price of $20.31. Cross Country Healthcare, Inc. has a 52 week low of $15.65 and a 52 week high of $28.75.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last announced its earnings results on Wednesday, February 21st. The business services provider reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.02. Cross Country Healthcare had a net margin of 3.60% and a return on equity of 16.93%. The firm had revenue of $414.04 million for the quarter, compared to analysts' expectations of $404.42 million. During the same quarter in the previous year, the business posted $1.09 EPS. The company's quarterly revenue was down 34.1% on a year-over-year basis. Analysts anticipate that Cross Country Healthcare, Inc. will post 0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CCRN. Barrington Research decreased their target price on shares of Cross Country Healthcare from $26.00 to $24.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 27th. Truist Financial decreased their target price on shares of Cross Country Healthcare from $22.00 to $16.00 and set a "hold" rating on the stock in a research note on Thursday, February 22nd. Benchmark decreased their target price on shares of Cross Country Healthcare from $24.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, February 22nd. Finally, TheStreet downgraded shares of Cross Country Healthcare from a "b-" rating to a "c+" rating in a research note on Friday, March 1st. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $21.67.

About Cross Country Healthcare

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.