Cross Country Healthcare (NASDAQ:CCRN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, January 17th.
According to Zacks, “Cross Country Healthcare, Inc. is a national leader in providing innovative healthcare workforce solutions and staffing services. Their diverse client base includes both clinical and nonclinical settings, servicing acute care hospitals, physician practice groups, outpatient and ambulatory-care centers, nursing facilities, both public schools and charter schools, rehabilitation and sports medicine clinics, government facilities, and homecare. They are able to place clinicians on travel and per diem assignments, local short-term contracts and permanent positions. They are a market leader in providing flexible workforce management solutions, which include managed services programs (MSP), internal resource pool consulting and development, electronic medical record (EMR) transition staffing, recruitment process outsourcing, predictive modeling and other outsourcing and consultative services. “
Several other research firms have also weighed in on CCRN. BidaskClub lowered Cross Country Healthcare from a “hold” rating to a “sell” rating in a research note on Thursday, December 21st. TheStreet lowered Cross Country Healthcare from a “b-” rating to a “c+” rating in a research note on Friday, November 3rd. Cantor Fitzgerald reissued a “buy” rating and set a $18.00 price target on shares of Cross Country Healthcare in a research note on Wednesday, November 1st. Credit Suisse Group started coverage on Cross Country Healthcare in a research note on Tuesday, November 7th. They set a “neutral” rating and a $13.00 price target on the stock. Finally, BMO Capital Markets cut their price target on Cross Country Healthcare from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $15.25.
Cross Country Healthcare (NASDAQ:CCRN) traded up $0.19 during trading hours on Wednesday, reaching $13.00. The company had a trading volume of 131,833 shares, compared to its average volume of 160,930. The firm has a market capitalization of $474.25, a price-to-earnings ratio of 20.31, a PEG ratio of 1.72 and a beta of 0.68. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.46. Cross Country Healthcare has a fifty-two week low of $11.07 and a fifty-two week high of $16.38.
In related news, General Counsel Susan E. Ball sold 25,000 shares of Cross Country Healthcare stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $14.19, for a total value of $354,750.00. Following the transaction, the general counsel now directly owns 126,921 shares of the company’s stock, valued at $1,801,008.99. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.90% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of CCRN. BNP Paribas Arbitrage SA lifted its stake in shares of Cross Country Healthcare by 57.7% in the second quarter. BNP Paribas Arbitrage SA now owns 9,998 shares of the business services provider’s stock worth $129,000 after acquiring an additional 3,660 shares during the period. FDx Advisors Inc. bought a new stake in Cross Country Healthcare in the third quarter worth approximately $146,000. Teacher Retirement System of Texas bought a new stake in shares of Cross Country Healthcare during the fourth quarter valued at approximately $162,000. Strs Ohio increased its holdings in shares of Cross Country Healthcare by 69.5% during the third quarter. Strs Ohio now owns 16,100 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 6,600 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of Cross Country Healthcare by 16.9% during the second quarter. Voya Investment Management LLC now owns 18,329 shares of the business services provider’s stock valued at $237,000 after acquiring an additional 2,646 shares in the last quarter. 92.09% of the stock is currently owned by institutional investors.
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Cross Country Healthcare Company Profile
Cross Country Healthcare, Inc is engaged in providing healthcare recruiting, staffing, recruiting and workforce solutions. The Company operates in three segments: Nurse and Allied Staffing, Physician Staffing and Other Human Capital Management Services. The Nurse and Allied Staffing segment provides traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, and branch-based local nurses and allied staffing.
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