William Blair Brokers Decrease Earnings Estimates for Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) - Investment analysts at William Blair cut their FY2024 earnings per share estimates for shares of Cross Country Healthcare in a research note issued on Friday, August 23rd. William Blair analyst T. Romeo now expects that the business services provider will earn $0.53 per share for the year, down from their prior estimate of $0.65. The consensus estimate for Cross Country Healthcare's current full-year earnings is $0.68 per share.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $339.77 million for the quarter, compared to the consensus estimate of $334.75 million. Cross Country Healthcare had a return on equity of 7.29% and a net margin of 0.54%. The company's revenue for the quarter was down 37.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS.

Several other analysts have also recently weighed in on CCRN. Benchmark reduced their price target on Cross Country Healthcare from $21.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, May 2nd. Truist Financial upped their price target on shares of Cross Country Healthcare from $16.00 to $17.00 and gave the company a "hold" rating in a research report on Thursday, August 1st. Finally, Barrington Research dropped their price target on shares of Cross Country Healthcare from $21.00 to $19.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $19.60.

Cross Country Healthcare Stock Performance

Shares of CCRN traded down $0.40 during trading hours on Monday, reaching $14.94. The stock had a trading volume of 348,968 shares, compared to its average volume of 434,019. Cross Country Healthcare has a 12 month low of $12.87 and a 12 month high of $26.17. The company's 50-day moving average is $14.83 and its two-hundred day moving average is $16.27. The stock has a market capitalization of $519.52 million, a PE ratio of 11.80, a PEG ratio of 2.57 and a beta of 0.63.

Insider Transactions at Cross Country Healthcare

In other news, insider Marc S. Krug sold 13,657 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $14.82, for a total transaction of $202,396.74. Following the completion of the sale, the insider now directly owns 36,020 shares in the company, valued at $533,816.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Karen Mote sold 13,829 shares of the business's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $17.08, for a total value of $236,199.32. Following the transaction, the insider now directly owns 24,696 shares of the company's stock, valued at approximately $421,807.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc S. Krug sold 13,657 shares of the company's stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $14.82, for a total value of $202,396.74. Following the sale, the insider now owns 36,020 shares in the company, valued at approximately $533,816.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,431 shares of company stock worth $472,070. Company insiders own 4.90% of the company's stock.

Hedge Funds Weigh In On Cross Country Healthcare

Several institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in shares of Cross Country Healthcare by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,256,832 shares of the business services provider's stock worth $51,095,000 after buying an additional 76,954 shares during the period. Assenagon Asset Management S.A. bought a new stake in Cross Country Healthcare in the first quarter valued at $2,078,000. Wasatch Advisors LP raised its holdings in shares of Cross Country Healthcare by 74.3% during the fourth quarter. Wasatch Advisors LP now owns 2,193,604 shares of the business services provider's stock valued at $49,663,000 after purchasing an additional 934,841 shares during the period. Boston Partners acquired a new position in shares of Cross Country Healthcare during the first quarter valued at about $2,511,000. Finally, BOKF NA bought a new position in shares of Cross Country Healthcare during the 1st quarter worth about $247,000. 96.03% of the stock is owned by institutional investors and hedge funds.

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.