Cross Country Healthcare, Inc. (NASDAQ:CCRN) Sees Significant Increase in Short Interest

Cross Country Healthcare, Inc. (NASDAQ:CCRN) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 4,430,000 shares, a growth of 6.7% from the May 15th total of 4,150,000 shares. Currently, 13.5% of the company’s shares are sold short. Based on an average daily volume of 356,700 shares, the short-interest ratio is currently 12.4 days.

Insider Buying and Selling at Cross Country Healthcare

In other Cross Country Healthcare news, insider Phillip Lyn Noe sold 9,646 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $14.19, for a total value of $136,876.74. Following the completion of the sale, the insider now owns 10,162 shares of the company’s stock, valued at $144,198.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cross Country Healthcare news, insider Phillip Lyn Noe sold 9,646 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $14.19, for a total value of $136,876.74. Following the completion of the sale, the insider now owns 10,162 shares of the company’s stock, valued at $144,198.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc S. Krug sold 13,657 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $14.82, for a total transaction of $202,396.74. Following the completion of the transaction, the insider now owns 36,020 shares of the company’s stock, valued at approximately $533,816.40. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

Institutional Trading of Cross Country Healthcare

A number of large investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP lifted its stake in Cross Country Healthcare by 37.1% in the fourth quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 515 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in Cross Country Healthcare by 2.0% in the fourth quarter. SummerHaven Investment Management LLC now owns 26,927 shares of the business services provider’s stock valued at $610,000 after acquiring an additional 520 shares during the last quarter. GAMMA Investing LLC acquired a new stake in Cross Country Healthcare in the fourth quarter valued at $28,000. Price T Rowe Associates Inc. MD lifted its stake in Cross Country Healthcare by 9.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,639 shares of the business services provider’s stock valued at $312,000 after acquiring an additional 1,450 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Cross Country Healthcare by 8.2% in the fourth quarter. SG Americas Securities LLC now owns 19,754 shares of the business services provider’s stock valued at $447,000 after acquiring an additional 1,493 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Cross Country Healthcare Trading Down 3.0 %

Shares of CCRN opened at $14.16 on Wednesday. Cross Country Healthcare has a 12 month low of $14.05 and a 12 month high of $28.75. The firm has a fifty day simple moving average of $15.76 and a 200 day simple moving average of $18.66. The stock has a market capitalization of $492.34 million, a price-to-earnings ratio of 10.89, a PEG ratio of 2.07 and a beta of 0.75.

Cross Country Healthcare (NASDAQ:CCRN) last announced its earnings results on Wednesday, May 1st. The business services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. Cross Country Healthcare had a net margin of 2.58% and a return on equity of 11.69%. The business had revenue of $379.17 million during the quarter, compared to analysts’ expectations of $374.38 million. During the same quarter in the prior year, the company posted $0.84 earnings per share. The firm’s revenue was down 39.1% on a year-over-year basis. As a group, research analysts predict that Cross Country Healthcare will post 0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

CCRN has been the subject of several research analyst reports. Benchmark reduced their price target on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. TheStreet cut shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a report on Friday, March 1st. Barrington Research reduced their price target on shares of Cross Country Healthcare from $24.00 to $21.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Finally, Truist Financial reduced their price target on shares of Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating for the company in a report on Thursday, February 22nd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Cross Country Healthcare has a consensus rating of “Hold” and a consensus target price of $20.83.

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.