Federated Hermes Inc. Cuts Stake in Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Federated Hermes Inc. reduced its holdings in shares of Cross Country Healthcare, Inc. (NASDAQ:CCRN) by 34.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,996 shares of the business services provider’s stock after selling 6,779 shares during the period. Federated Hermes Inc.’s holdings in Cross Country Healthcare were worth $180,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in Cross Country Healthcare during the 2nd quarter worth approximately $50,000. Denali Advisors LLC grew its holdings in Cross Country Healthcare by 3,885.5% during the 1st quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider’s stock worth $103,000 after acquiring an additional 5,362 shares in the last quarter. GAMMA Investing LLC grew its holdings in Cross Country Healthcare by 622.4% during the 2nd quarter. GAMMA Investing LLC now owns 5,678 shares of the business services provider’s stock worth $79,000 after acquiring an additional 4,892 shares in the last quarter. EMC Capital Management acquired a new position in Cross Country Healthcare during the 1st quarter worth approximately $155,000. Finally, Bayesian Capital Management LP acquired a new position in Cross Country Healthcare during the 1st quarter worth approximately $195,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on CCRN shares. Barrington Research lowered 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 report on Thursday, August 8th. Truist Financial boosted their price target on shares of Cross Country Healthcare from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.60.

Cross Country Healthcare Trading Down 2.6 %

Shares of Cross Country Healthcare stock opened at $13.70 on Wednesday. The company has a fifty day simple moving average of $15.07 and a 200-day simple moving average of $15.62. Cross Country Healthcare, Inc. has a 12-month low of $12.87 and a 12-month high of $25.76. The stock has a market cap of $476.40 million, a price-to-earnings ratio of 10.54, a PEG ratio of 2.61 and a beta of 0.63.

Cross Country Healthcare (NASDAQ:CCRN) last issued its earnings results on Wednesday, July 31st. The business services provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). The company had revenue of $339.77 million during the quarter, compared to analyst estimates of $334.75 million. Cross Country Healthcare had a net margin of 0.54% and a return on equity of 7.29%. The company’s quarterly revenue was down 37.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 EPS. On average, analysts forecast that Cross Country Healthcare, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Cynthia Ann Grieco sold 1,945 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $17.21, for a total transaction of $33,473.45. Following the completion of the sale, the vice president now owns 7,605 shares in the company, valued at approximately $130,882.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Karen Mote sold 13,829 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $17.08, for a total transaction of $236,199.32. Following the completion of the sale, the insider now owns 24,696 shares in the company, valued at approximately $421,807.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Cynthia Ann Grieco sold 1,945 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $17.21, for a total transaction of $33,473.45. Following the sale, the vice president now owns 7,605 shares of the company’s stock, valued at approximately $130,882.05. 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.