Cross Country Healthcare (NASDAQ:CCRN) Sees Large Volume Increase After Analyst Upgrade

Cross Country Healthcare, Inc. (NASDAQ:CCRN) saw unusually-high trading volume on Thursday after Truist Financial raised their price target on the stock from $15.00 to $18.61. Truist Financial currently has a hold rating on the stock. Approximately 528,879 shares changed hands during mid-day trading, a decline of 8% from the previous session’s volume of 572,105 shares.The stock last traded at $18.12 and had previously closed at $18.16.

Other research analysts also recently issued reports about the company. Benchmark reduced their price objective on Cross Country Healthcare from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Barrington Research cut their price objective on Cross Country Healthcare from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.54.

Institutional Trading of Cross Country Healthcare

Institutional investors have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Cross Country Healthcare in the third quarter valued at $7,350,000. Royce & Associates LP increased its stake in Cross Country Healthcare by 51.4% during the third quarter. Royce & Associates LP now owns 1,132,566 shares of the business services provider’s stock worth $15,222,000 after acquiring an additional 384,374 shares during the last quarter. Pacer Advisors Inc. increased its stake in Cross Country Healthcare by 3.8% during the second quarter. Pacer Advisors Inc. now owns 4,550,848 shares of the business services provider’s stock worth $62,984,000 after acquiring an additional 165,032 shares during the last quarter. Jane Street Group LLC increased its stake in Cross Country Healthcare by 337.6% during the third quarter. Jane Street Group LLC now owns 181,492 shares of the business services provider’s stock worth $2,439,000 after acquiring an additional 140,013 shares during the last quarter. Finally, Systematic Financial Management LP increased its stake in Cross Country Healthcare by 8.5% during the third quarter. Systematic Financial Management LP now owns 1,662,730 shares of the business services provider’s stock worth $22,347,000 after acquiring an additional 130,746 shares during the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Cross Country Healthcare Stock Up 0.1 %

The company has a market capitalization of $595.14 million, a price-to-earnings ratio of -361.60, a price-to-earnings-growth ratio of 2.13 and a beta of 0.61. The company has a 50 day simple moving average of $11.96 and a 200 day simple moving average of $13.71.

About Cross Country Healthcare

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.