Cross Country Healthcare (NASDAQ:CCRN) Shares Gap Up to $14.49

Cross Country Healthcare, Inc. (NASDAQ:CCRN - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $14.49, but opened at $14.95. Cross Country Healthcare shares last traded at $15.41, with a volume of 66,094 shares traded.

Wall Street Analysts Forecast Growth

CCRN has been the subject of several research reports. Truist Financial boosted their price objective on shares of Cross Country Healthcare from $16.00 to $17.00 and gave the company a "hold" rating in a research note on Thursday, August 1st. Barrington Research dropped their price target on 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. Finally, Benchmark cut their price objective 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. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $19.60.

Cross Country Healthcare Price Performance

The firm has a 50-day simple moving average of $14.82 and a 200 day simple moving average of $16.36. The company has a market capitalization of $533.43 million, a PE ratio of 11.91, a price-to-earnings-growth ratio of 2.57 and a beta of 0.63.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last announced its earnings results on Wednesday, July 31st. The business services provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). The company had revenue of $339.77 million for the quarter, compared to analysts' expectations of $334.75 million. Cross Country Healthcare had a net margin of 0.54% and a return on equity of 7.29%. The business's quarterly revenue was down 37.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 earnings per share. Equities research analysts expect that Cross Country Healthcare, Inc. will post 0.68 EPS for the current fiscal year.

Insider Activity

In related news, insider Marc S. Krug sold 13,657 shares of Cross Country Healthcare 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 sale, the insider now owns 36,020 shares of the company's stock, valued at approximately $533,816.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Cynthia Ann Grieco sold 1,945 shares of the company's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $17.21, for a total value of $33,473.45. Following the sale, the vice president now directly owns 7,605 shares of the company's stock, valued at $130,882.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marc S. Krug sold 13,657 shares of the firm's stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $14.82, for a total transaction of $202,396.74. Following the transaction, the insider now directly owns 36,020 shares of the company's stock, valued at $533,816.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,431 shares of company stock worth $472,070. 4.90% of the stock is currently owned by company insiders.

Institutional Trading of Cross Country Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of CCRN. GAMMA Investing LLC acquired a new stake in shares of Cross Country Healthcare during the fourth quarter worth $28,000. Gladius Capital Management LP increased its stake in shares of Cross Country Healthcare by 37.1% in the fourth quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider's stock valued at $43,000 after purchasing an additional 515 shares during the period. nVerses Capital LLC acquired a new position in shares of Cross Country Healthcare during the second quarter worth approximately $50,000. Denali Advisors LLC grew its holdings in Cross Country Healthcare by 3,885.5% in the 1st quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider's stock worth $103,000 after buying an additional 5,362 shares in the last quarter. Finally, EMC Capital Management bought a new position in shares of Cross Country Healthcare in the first quarter worth $155,000. 96.03% of the stock is owned by institutional investors.

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.