Cross Country Healthcare, Inc. (NASDAQ:CCRN) Short Interest Up 5.4% in August

Cross Country Healthcare, Inc. (NASDAQ:CCRN) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 4,080,000 shares, an increase of 5.4% from the August 15th total of 3,870,000 shares. Based on an average daily volume of 439,500 shares, the days-to-cover ratio is presently 9.3 days. Approximately 12.8% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CCRN. Barrington Research reduced their target price on shares of 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 increased their price objective on Cross Country Healthcare from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.60.

Cross Country Healthcare Stock Performance

CCRN traded down $0.06 during trading on Thursday, reaching $14.75. 31,920 shares of the company’s stock were exchanged, compared to its average volume of 433,206. The company’s fifty day moving average price is $15.06 and its 200-day moving average price is $15.75. The firm has a market capitalization of $512.92 million, a PE ratio of 11.39, a P/E/G ratio of 2.61 and a beta of 0.63. Cross Country Healthcare has a fifty-two week low of $12.87 and a fifty-two week high of $25.76.

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

Insider Buying and Selling

In other Cross Country Healthcare news, VP Cynthia Ann Grieco sold 1,945 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $17.21, for a total value of $33,473.45. Following the transaction, the vice president now directly owns 7,605 shares in the company, valued at $130,882.05. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Cross Country Healthcare news, VP Cynthia Ann Grieco sold 1,945 shares of Cross Country Healthcare stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $17.21, for a total value of $33,473.45. Following the completion of the transaction, the vice president now owns 7,605 shares in the company, valued at approximately $130,882.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Karen Mote sold 13,829 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $17.08, for a total value of $236,199.32. Following the sale, the insider now owns 24,696 shares in the company, valued at approximately $421,807.68. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. nVerses Capital LLC bought a new position in shares of Cross Country Healthcare during the second quarter worth $50,000. GAMMA Investing LLC grew its stake in Cross Country Healthcare by 622.4% in the second quarter. GAMMA Investing LLC now owns 5,678 shares of the business services provider’s stock valued at $79,000 after acquiring an additional 4,892 shares during the period. Denali Advisors LLC increased its holdings in shares of Cross Country Healthcare by 3,885.5% in the first quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider’s stock worth $103,000 after acquiring an additional 5,362 shares in the last quarter. EMC Capital Management acquired a new stake in shares of Cross Country Healthcare during the first quarter worth about $155,000. Finally, Versor Investments LP lifted its holdings in shares of Cross Country Healthcare by 20.4% during the 2nd quarter. Versor Investments LP now owns 12,400 shares of the business services provider’s stock valued at $172,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors 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.