Weiss Ratings Reaffirms Sell (D) Rating for Cross Country Healthcare (NASDAQ:CCRN)

Key Points

• Weiss Ratings has reaffirmed a Sell (D) rating for Cross Country Healthcare (NASDAQ:CCRN), highlighting a lack of confidence in the company's performance.
• Shares of Cross Country Healthcare recently traded at $13.00, down from a 12-month high of $18.33, and analysts project the stock's average target price at $17.93.
• The company reported disappointing earnings, missing consensus estimates with ($0.01) earnings per share for the last quarter, against an expectation of $0.07.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report)'s stock had its "sell (d)" rating reissued by investment analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other research analysts have also recently commented on the stock. Wall Street Zen upgraded shares of Cross Country Healthcare to a "hold" rating in a research report on Saturday, August 9th. Barrington Research reissued a "market perform" rating and set a $18.61 target price on shares of Cross Country Healthcare in a research note on Tuesday, June 17th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Cross Country Healthcare has an average rating of "Reduce" and an average target price of $17.93.

Cross Country Healthcare Price Performance

Shares of NASDAQ:CCRN traded down $0.12 during trading on Wednesday, reaching $13.00. 216,381 shares of the company's stock traded hands, compared to its average volume of 404,103. Cross Country Healthcare has a 12 month low of $9.58 and a 12 month high of $18.33. The company has a 50 day moving average of $13.33 and a 200-day moving average of $13.55. The stock has a market capitalization of $425.88 million, a P/E ratio of -50.00, a price-to-earnings-growth ratio of 7.83 and a beta of 0.39.

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

Institutional Trading of Cross Country Healthcare

A number of hedge funds have recently bought and sold shares of CCRN. GAMMA Investing LLC lifted its holdings in shares of Cross Country Healthcare by 1,164.0% during the 1st quarter. GAMMA Investing LLC now owns 29,944 shares of the business services provider's stock worth $446,000 after acquiring an additional 27,575 shares during the period. SummerHaven Investment Management LLC lifted its holdings in Cross Country Healthcare by 1.4% during the 1st quarter. SummerHaven Investment Management LLC now owns 57,641 shares of the business services provider's stock valued at $858,000 after purchasing an additional 789 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Cross Country Healthcare by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 31,821 shares of the business services provider's stock valued at $474,000 after purchasing an additional 827 shares during the last quarter. Tabor Asset Management LP bought a new position in Cross Country Healthcare during the 1st quarter valued at about $2,980,000. Finally, KLP Kapitalforvaltning AS lifted its holdings in Cross Country Healthcare by 27.6% during the 1st quarter. KLP Kapitalforvaltning AS now owns 41,600 shares of the business services provider's stock valued at $619,000 after purchasing an additional 9,000 shares during the last quarter. 96.03% of the stock is owned by institutional investors.

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.

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