Short Interest in Cross Country Healthcare, Inc. (NASDAQ:CCRN) Decreases By 11.5%

Cross Country Healthcare, Inc. (NASDAQ:CCRN) was the target of a large drop in short interest in June. As of June 15th, there was short interest totalling 3,920,000 shares, a drop of 11.5% from the May 31st total of 4,430,000 shares. Based on an average daily volume of 345,200 shares, the days-to-cover ratio is currently 11.4 days. Approximately 11.9% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of brokerages have weighed in on CCRN. Benchmark dropped 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 research report on Thursday, May 2nd. Barrington Research dropped their target price 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. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.83.

Cross Country Healthcare Price Performance

Shares of CCRN stock traded down $0.15 during trading on Monday, reaching $13.69. The company’s stock had a trading volume of 558,568 shares, compared to its average volume of 438,803. Cross Country Healthcare has a 1-year low of $13.48 and a 1-year high of $28.55. The stock’s 50-day moving average price is $15.14 and its 200 day moving average price is $18.21. The company has a market capitalization of $476.00 million, a price-to-earnings ratio of 10.53, a P/E/G ratio of 1.90 and a beta of 0.64.

Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly 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. The business had revenue of $379.17 million during the quarter, compared to the consensus estimate of $374.38 million. Cross Country Healthcare had a net margin of 2.58% and a return on equity of 11.69%. The company’s quarterly revenue was down 39.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 earnings per share. On average, sell-side analysts anticipate that Cross Country Healthcare will post 0.73 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Cross Country Healthcare

A number of hedge funds have recently bought and sold shares of CCRN. GAMMA Investing LLC acquired a new position in shares of Cross Country Healthcare during the fourth quarter worth about $28,000. Gladius Capital Management LP raised its holdings in shares of Cross Country Healthcare by 37.1% in the 4th quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 515 shares in the last quarter. Denali Advisors LLC lifted its position in shares of 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 worth $103,000 after purchasing an additional 5,362 shares during the last quarter. EMC Capital Management acquired a new position in shares of Cross Country Healthcare during the first quarter worth $155,000. Finally, Bayesian Capital Management LP purchased a new position in Cross Country Healthcare in the first quarter valued at $195,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

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.