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

Cross Country Healthcare, Inc. (NASDAQ:CCRN) was the recipient of a large increase in short interest in 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. Approximately 12.8% of the company’s shares are sold short. Based on an average daily trading volume, of 439,500 shares, the short-interest ratio is presently 9.3 days.

Insiders Place Their Bets

In other news, insider Karen Mote sold 13,829 shares of Cross Country Healthcare stock in a transaction that occurred 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 transaction, the insider now directly owns 24,696 shares of the company’s stock, valued at $421,807.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Cynthia Ann Grieco sold 1,945 shares of the 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 sale, the vice president now owns 7,605 shares in the company, valued at $130,882.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karen Mote sold 13,829 shares of the firm’s 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 completion of the sale, the insider now directly owns 24,696 shares of the company’s stock, valued at approximately $421,807.68. 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 large investors have recently added to or reduced their stakes in CCRN. Truist Financial Corp grew its holdings in shares of Cross Country Healthcare by 30.4% during the 4th quarter. Truist Financial Corp now owns 15,967 shares of the business services provider’s stock worth $361,000 after purchasing an additional 3,722 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cross Country Healthcare by 4.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 421,576 shares of the business services provider’s stock valued at $9,544,000 after buying an additional 19,689 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Cross Country Healthcare by 20.5% in the 4th quarter. BNP Paribas Financial Markets now owns 34,061 shares of the business services provider’s stock valued at $771,000 after buying an additional 5,784 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cross Country Healthcare by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,256,832 shares of the business services provider’s stock worth $51,095,000 after acquiring an additional 76,954 shares during the period. Finally, Assetmark Inc. boosted its position in shares of Cross Country Healthcare by 78.8% during the 4th quarter. Assetmark Inc. now owns 53,127 shares of the business services provider’s stock valued at $1,203,000 after acquiring an additional 23,416 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CCRN. Truist Financial increased their price target on shares of Cross Country Healthcare from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.60.

Cross Country Healthcare Price Performance

NASDAQ:CCRN traded down $0.06 during trading hours on Thursday, reaching $14.75. The company’s stock had a trading volume of 31,920 shares, compared to its average volume of 433,206. The company has a market cap of $512.92 million, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 2.61 and a beta of 0.63. Cross Country Healthcare has a one year low of $12.87 and a one year high of $25.76. The business’s 50-day moving average is $15.06 and its 200-day moving average is $15.75.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly 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 during the quarter, compared to analyst estimates of $334.75 million. Cross Country Healthcare had a return on equity of 7.29% and a net margin of 0.54%. Cross Country Healthcare’s quarterly revenue was down 37.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. On average, sell-side analysts predict that Cross Country Healthcare will post 0.52 EPS for the current fiscal year.

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.