Short Interest in Cross Country Healthcare, Inc. (NASDAQ:CCRN) Declines By 7.7%

Cross Country Healthcare, Inc. (NASDAQ:CCRN - Get Free Report) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 2,870,000 shares, a decline of 7.7% from the October 15th total of 3,110,000 shares. Approximately 9.2% of the company's shares are sold short. Based on an average daily trading volume, of 770,400 shares, the days-to-cover ratio is presently 3.7 days.

Cross Country Healthcare Price Performance

Shares of Cross Country Healthcare stock traded up $0.66 on Monday, reaching $10.47. 348,309 shares of the company were exchanged, compared to its average volume of 534,035. The stock's 50 day moving average price is $12.52 and its 200-day moving average price is $14.05. Cross Country Healthcare has a 1-year low of $9.58 and a 1-year high of $23.64. The company has a market cap of $344.67 million, a P/E ratio of -196.16, a price-to-earnings-growth ratio of 1.87 and a beta of 0.65.

Wall Street Analysts Forecast Growth

CCRN has been the subject of several research reports. Barrington Research dropped their target price on Cross Country Healthcare from $21.00 to $19.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Truist Financial dropped their price objective on shares of Cross Country Healthcare from $17.00 to $15.00 and set a "hold" rating for the company in a report on Monday, October 21st. Finally, Benchmark cut their target price 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $18.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in shares of Cross Country Healthcare during the 3rd quarter worth $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cross Country Healthcare in the third quarter valued at $49,000. nVerses Capital LLC purchased a new stake in Cross Country Healthcare during the 2nd quarter worth about $50,000. Point72 DIFC Ltd acquired a new position in shares of Cross Country Healthcare during the 3rd quarter worth about $52,000. Finally, Gladius Capital Management LP increased its holdings in shares of 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. Institutional investors and hedge funds own 96.03% of the company's stock.

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.