Cross Country Healthcare (NASDAQ:CCRN) Shares Gap Up – Here’s Why

Cross Country Healthcare, Inc. (NASDAQ:CCRN) gapped up prior to trading on Wednesday . The stock had previously closed at $11.16, but opened at $18.15. Cross Country Healthcare shares last traded at $18.12, with a volume of 1,874,153 shares traded.

Analyst Ratings Changes

CCRN has been the topic of several analyst reports. Barrington Research dropped their target price 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 reduced their target price on shares of 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. Finally, Benchmark dropped their price target on shares of Cross Country Healthcare from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Two 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.33.

Cross Country Healthcare Trading Up 62.3 %

The stock has a market cap of $596.18 million, a P/E ratio of -362.33, a price-to-earnings-growth ratio of 2.20 and a beta of 0.61. The stock’s 50-day moving average is $11.69 and its 200-day moving average is $13.63.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Truvestments Capital LLC bought a new position in Cross Country Healthcare during the 3rd quarter valued at $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Cross Country Healthcare during the third quarter worth about $49,000. nVerses Capital LLC acquired a new position in Cross Country Healthcare during the second quarter worth about $50,000. Point72 DIFC Ltd bought a new stake in Cross Country Healthcare in the third quarter worth about $52,000. Finally, Gladius Capital Management LP lifted its holdings in Cross Country Healthcare by 83.4% in the 3rd quarter. Gladius Capital Management LP now owns 3,985 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 1,812 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.

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.