Cross Country Healthcare, Inc. (NASDAQ:CCRN) Short Interest Update

Cross Country Healthcare, Inc. (NASDAQ:CCRN) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totalling 3,110,000 shares, a drop of 22.3% from the September 30th total of 4,000,000 shares. Approximately 9.7% of the shares of the stock are sold short. Based on an average daily volume of 746,900 shares, the short-interest ratio is currently 4.2 days.

Insider Buying and Selling at Cross Country Healthcare

In other news, insider Karen Mote sold 13,829 shares of the company’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 completion of the transaction, the insider now directly owns 24,696 shares in the company, valued at approximately $421,807.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Karen Mote sold 13,829 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were 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 approximately $421,807.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Cynthia Ann Grieco sold 1,945 shares of Cross Country Healthcare 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 completion of the transaction, the vice president now owns 7,605 shares in the company, valued at approximately $130,882.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Cross Country Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in the business. nVerses Capital LLC bought a new stake in Cross Country Healthcare in the second quarter worth $50,000. US Bancorp DE raised its position in shares of Cross Country Healthcare by 10,909.3% in the 3rd quarter. US Bancorp DE now owns 4,734 shares of the business services provider’s stock worth $64,000 after purchasing an additional 4,691 shares during the last quarter. GAMMA Investing LLC boosted its stake in Cross Country Healthcare by 622.4% in the 2nd quarter. GAMMA Investing LLC now owns 5,678 shares of the business services provider’s stock worth $79,000 after purchasing an additional 4,892 shares in the last quarter. Denali Advisors LLC grew its position 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 valued at $103,000 after purchasing an additional 5,362 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Cross Country Healthcare during the 3rd quarter valued at about $135,000. Institutional investors own 96.03% of the company’s stock.

Cross Country Healthcare Price Performance

NASDAQ:CCRN traded up $0.03 during mid-day trading on Tuesday, reaching $11.84. 324,482 shares of the company’s stock traded hands, compared to its average volume of 525,905. The company has a 50 day moving average price of $13.52 and a 200-day moving average price of $14.67. The firm has a market capitalization of $411.72 million, a price-to-earnings ratio of 9.08, a PEG ratio of 2.37 and a beta of 0.63. Cross Country Healthcare has a 12-month low of $11.46 and a 12-month high of $23.64.

Cross Country Healthcare (NASDAQ:CCRN) last posted 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). Cross Country Healthcare had a net margin of 0.54% and a return on equity of 7.29%. The business had revenue of $339.77 million for the quarter, compared to analysts’ expectations of $334.75 million. During the same period last year, the firm posted $0.69 earnings per share. Cross Country Healthcare’s quarterly revenue was down 37.2% on a year-over-year basis. As a group, analysts forecast that Cross Country Healthcare will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CCRN. Barrington Research reduced their price target on Cross Country Healthcare from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Truist Financial dropped their price objective on Cross Country Healthcare from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Monday, October 21st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.20.

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.