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

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

Insider Transactions at Cross Country Healthcare

In other news, VP Cynthia Ann Grieco sold 1,945 shares of the stock in a transaction dated 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 directly owns 7,605 shares in the company, valued at approximately $130,882.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cross Country Healthcare 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Cynthia Ann Grieco sold 1,945 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 7,605 shares of the company’s stock, valued at approximately $130,882.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in shares of Cross Country Healthcare by 3.8% in the second quarter. Pacer Advisors Inc. now owns 4,550,848 shares of the business services provider’s stock worth $62,984,000 after buying an additional 165,032 shares during the last quarter. Boston Partners bought a new stake in shares of Cross Country Healthcare during the 1st quarter valued at $2,511,000. American Century Companies Inc. increased its stake in shares of Cross Country Healthcare by 15.9% in the 2nd quarter. American Century Companies Inc. now owns 772,834 shares of the business services provider’s stock worth $10,696,000 after purchasing an additional 106,226 shares in the last quarter. Dana Investment Advisors Inc. increased its stake in shares of Cross Country Healthcare by 34.7% in the 2nd quarter. Dana Investment Advisors Inc. now owns 404,370 shares of the business services provider’s stock worth $5,596,000 after purchasing an additional 104,136 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Cross Country Healthcare by 39.9% in the 2nd quarter. AQR Capital Management LLC now owns 322,483 shares of the business services provider’s stock worth $4,463,000 after purchasing an additional 92,011 shares during the period. 96.03% of the stock is owned by hedge funds and other institutional investors.

Cross Country Healthcare Stock Performance

Shares of CCRN stock remained flat at $11.84 during mid-day trading on Wednesday. The stock had a trading volume of 111,275 shares, compared to its average volume of 523,919. Cross Country Healthcare has a 52-week low of $11.46 and a 52-week high of $23.64. The firm has a market capitalization of $411.72 million, a PE ratio of 9.11, a price-to-earnings-growth ratio of 2.37 and a beta of 0.63. The company has a 50-day moving average of $13.47 and a 200-day moving average of $14.63.

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

Analyst Upgrades and Downgrades

CCRN has been the topic of several recent research reports. Truist Financial cut their price target on Cross Country Healthcare from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Monday, October 21st. Barrington Research cut their target price on Cross Country Healthcare from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Cross Country Healthcare has an average rating of “Hold” and a consensus price target of $19.20.

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.