Cross Country Healthcare, Inc. (NASDAQ:CCRN) Short Interest Down 22.3% in October

Cross Country Healthcare, Inc. (NASDAQ:CCRN - Get Free Report) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 3,110,000 shares, a drop of 22.3% from the September 30th total of 4,000,000 shares. Approximately 9.7% of the shares of the company are short sold. Based on an average daily trading volume, of 746,900 shares, the days-to-cover ratio is presently 4.2 days.

Cross Country Healthcare Price Performance

Cross Country Healthcare stock traded up $0.24 during midday trading on Monday, reaching $11.81. The company had a trading volume of 489,310 shares, compared to its average volume of 526,874. Cross Country Healthcare has a 12-month low of $11.46 and a 12-month high of $23.64. The firm's fifty day simple moving average is $13.56 and its 200-day simple moving average is $14.71. The company has a market capitalization of $410.68 million, a P/E ratio of 9.18, a P/E/G ratio of 2.37 and a beta of 0.63.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last released its earnings results on Wednesday, July 31st. The business services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). Cross Country Healthcare had a net margin of 0.54% and a return on equity of 7.29%. The firm had revenue of $339.77 million during the quarter, compared to analysts' expectations of $334.75 million. During the same quarter last year, the business earned $0.69 EPS. The business's revenue was down 37.2% compared to the same quarter last year. On average, analysts expect that Cross Country Healthcare will post 0.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barrington Research cut their target price on shares of Cross Country Healthcare from $21.00 to $19.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Truist Financial reduced their target price on Cross Country Healthcare from $17.00 to $15.00 and set a "hold" rating for the company in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $19.20.

Insiders Place Their Bets

In other news, insider Karen Mote sold 13,829 shares of the company's stock in a transaction 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 sale, the insider now directly owns 24,696 shares of the company's stock, valued at $421,807.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Cynthia Ann Grieco sold 1,945 shares of Cross Country Healthcare stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $17.21, for a total transaction of $33,473.45. Following the completion of the transaction, the vice president now directly owns 7,605 shares in the company, valued at approximately $130,882.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Karen Mote sold 13,829 shares of the business's 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 completion of the transaction, the insider now directly owns 24,696 shares of the company's stock, valued at $421,807.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cross Country Healthcare

A number of large investors have recently modified their holdings of the business. Pacer Advisors Inc. increased its holdings in shares of Cross Country Healthcare by 3.8% in the second quarter. Pacer Advisors Inc. now owns 4,550,848 shares of the business services provider's stock valued at $62,984,000 after purchasing an additional 165,032 shares during the last quarter. Boston Partners acquired a new stake in shares of Cross Country Healthcare in the 1st quarter worth $2,511,000. American Century Companies Inc. raised its holdings in shares of Cross Country Healthcare by 15.9% during the 2nd quarter. American Century Companies Inc. now owns 772,834 shares of the business services provider's stock worth $10,696,000 after acquiring an additional 106,226 shares during the period. Dana Investment Advisors Inc. raised its holdings in shares of Cross Country Healthcare by 34.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 404,370 shares of the business services provider's stock worth $5,596,000 after acquiring an additional 104,136 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Cross Country Healthcare by 39.9% during the 2nd quarter. AQR Capital Management LLC now owns 322,483 shares of the business services provider's stock valued at $4,463,000 after acquiring an additional 92,011 shares during the last quarter. Hedge funds and other 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.