Exchange Traded Concepts LLC Cuts Position in Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Exchange Traded Concepts LLC trimmed its stake in Cross Country Healthcare, Inc. (NASDAQ:CCRN - Free Report) by 71.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,534 shares of the business services provider's stock after selling 52,470 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.06% of Cross Country Healthcare worth $276,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Boston Partners acquired a new stake in Cross Country Healthcare in the first quarter valued at approximately $2,511,000. BOKF NA bought a new stake in Cross Country Healthcare in the first quarter valued at $247,000. Dana Investment Advisors Inc. raised its stake in Cross Country Healthcare by 34.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 404,370 shares of the business services provider's stock worth $5,596,000 after buying an additional 104,136 shares during the period. Orion Portfolio Solutions LLC raised its position in shares of Cross Country Healthcare by 22.8% during the first quarter. Orion Portfolio Solutions LLC now owns 75,819 shares of the business services provider's stock worth $1,419,000 after purchasing an additional 14,101 shares during the period. Finally, Sei Investments Co. raised its holdings in Cross Country Healthcare by 6.4% during the first quarter. Sei Investments Co. now owns 138,863 shares of the business services provider's stock worth $2,600,000 after buying an additional 8,362 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Cross Country Healthcare Stock Performance

CCRN stock traded down $0.85 during trading on Monday, hitting $12.02. 783,299 shares of the company traded hands, compared to its average volume of 528,403. The company has a 50-day moving average of $13.77 and a 200-day moving average of $14.88. Cross Country Healthcare, Inc. has a 1 year low of $11.97 and a 1 year high of $23.64. The firm has a market capitalization of $417.98 million, a PE ratio of 9.25, a P/E/G ratio of 2.37 and a beta of 0.63.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last released 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). Cross Country Healthcare had a return on equity of 7.29% and a net margin of 0.54%. The business had revenue of $339.77 million during the quarter, compared to analysts' expectations of $334.75 million. During the same quarter last year, the business posted $0.69 EPS. The company's quarterly revenue was down 37.2% compared to the same quarter last year. Sell-side analysts expect that Cross Country Healthcare, Inc. will post 0.52 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on CCRN shares. Barrington Research lowered their target price on shares of Cross Country Healthcare from $21.00 to $19.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Truist Financial reduced their target price on shares of Cross Country Healthcare from $17.00 to $15.00 and set a "hold" rating for the company in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.20.

Insider Buying and Selling at Cross Country Healthcare

In related news, insider Karen Mote sold 13,829 shares of Cross Country Healthcare 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 completion of the sale, the insider now directly owns 24,696 shares in the company, valued at approximately $421,807.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cross Country Healthcare news, VP Cynthia Ann Grieco sold 1,945 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 7,605 shares in the company, valued at approximately $130,882.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karen Mote sold 13,829 shares of the company's stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $17.08, for a total value of $236,199.32. Following the completion of the sale, the insider now owns 24,696 shares of the company's stock, valued at $421,807.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.

Cross Country Healthcare 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.