Its Stock Has Paid Off Big Time For Cross Country Healthcare Inc.

Cross Country Healthcare Inc. (NASDAQ: CCRN) stock fell -2.90% on Tuesday to $27.09 against a previous-day closing price of $27.90. With 0.65 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.72 million shares. During the session, the Staffing & Employment Services company that operates in wider Industrials sector, reached to the highest price of $27.87 whereas the lowest price it dropped to was $26.45. The 52-week range on CCRN shows that it touched its highest point at $40.12 and its lowest point at $15.26 during that stretch. It currently has a 1-year price target of $39.33. Beta for the stock currently stands at 1.05.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CCRN was down-trending over the past week, with a drop of -4.04%, but this was down by -3.08% over a month. Three-month performance dropped to -25.64% while six-month performance rose 3.99%. The stock gained 54.89% in the past year, while it has gained 1.96% so far this year. A look at the trailing 12-month EPS for CCRN yields 6.02 with Next year EPS estimates of 3.19. For the next quarter, that number is 0.89. This implies an EPS growth rate of 65.70% for this year and -37.17% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 74.20%.

Float and Shares Shorts:

At present, 37.10 million CCRN shares are outstanding with a float of 35.26 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.33 million, which was 8.71% higher than short shares on Sep 14, 2022. In addition to Mr. Kevin Cronin Clark as the firm’s Co-Founder & Non-Exec. Chairman, Mr. John A. Martins serves as its Pres, CEO & Director.

Institutional Ownership:

Through their ownership of 100.13% of CCRN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 50.62% of CCRN, in contrast to 46.34% held by mutual funds. Shares owned by individuals account for 17.92%. As the largest shareholder in CCRN with 14.89% of the stake, BlackRock Fund Advisors holds 5,554,030 shares worth 5,554,030. A second-largest stockholder of CCRN, The Vanguard Group, Inc., holds 2,589,026 shares, controlling over 6.94% of the firm’s shares. Systematic Financial Management L is the third largest shareholder in CCRN, holding 2,118,415 shares or 5.68% stake. With a 7.03% stake in CCRN, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 2,621,015 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.86% of CCRN stock, is the second-largest Mutual Fund holder. It holds 1,065,059 shares valued at 28.3 million. iShares Russell 2000 ETF holds 2.13% of the stake in CCRN, owning 793,228 shares worth 21.08 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CCRN since 7 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CCRN analysts setting a high price target of $45.00 and a low target of $31.00, the average target price over the next 12 months is $39.33. Based on these targets, CCRN could surge 66.11% to reach the target high and rise by 14.43% to reach the target low. Reaching the average price target will result in a growth of 45.18% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CCRN will report FY 2022 earnings on 02/22/2024. Analysts have provided yearly estimates in a range of $5.09 being high and $5.04 being low. For CCRN, this leads to a yearly average estimate of $5.07. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Cross Country Healthcare Inc. surprised analysts by $0.12 when it reported $1.07 EPS against a consensus estimate of $0.95. The surprise factor in the prior quarter was $0.05. Based on analyst estimates, the high estimate for the next quarter is $0.91 and the low estimate is $0.87. The average estimate for the next quarter is thus $0.89.

Summary of Insider Activity:

Insiders traded CCRN stock several times over the past three months with 2 Buys and 1 Sells. In these transactions, 3,766 shares were bought while 1,071 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 45 over the past year. The total number of shares bought during that period was 316,216 while 343,597 shares were sold.

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