Cross Country Healthcare, Inc. (NASDAQ:CCRN) Sees Large Drop in Short Interest

Cross Country Healthcare, Inc. (NASDAQ:CCRN) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 2,620,000 shares, a drop of 7.7% from the November 15th total of 2,840,000 shares. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is currently 2.5 days. Currently, 8.6% of the company’s stock are sold short.

Analysts Set New Price Targets

CCRN has been the subject of a number of recent research reports. StockNews.com assumed coverage on shares of Cross Country Healthcare in a report on Saturday. They issued a “hold” rating for the company. Barrington Research reiterated a “market perform” rating on shares of Cross Country Healthcare in a research note on Tuesday, December 10th. Truist Financial increased their price objective on Cross Country Healthcare from $15.00 to $18.61 and gave the company a “hold” rating in a report on Thursday, December 5th. Benchmark lowered Cross Country Healthcare from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 4th. Finally, William Blair downgraded Cross Country Healthcare from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, Cross Country Healthcare has an average rating of “Hold” and a consensus target price of $18.54.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CCRN. Raymond James & Associates grew its stake in shares of Cross Country Healthcare by 0.7% in the second quarter. Raymond James & Associates now owns 165,324 shares of the business services provider’s stock worth $2,288,000 after acquiring an additional 1,155 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Cross Country Healthcare by 3.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 28,376 shares of the business services provider’s stock worth $393,000 after purchasing an additional 1,032 shares during the period. Bank of New York Mellon Corp raised its position in shares of Cross Country Healthcare by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 304,956 shares of the business services provider’s stock valued at $4,221,000 after buying an additional 9,090 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Cross Country Healthcare in the second quarter valued at about $50,000. Finally, Versor Investments LP lifted its stake in shares of Cross Country Healthcare by 20.4% in the second quarter. Versor Investments LP now owns 12,400 shares of the business services provider’s stock valued at $172,000 after buying an additional 2,100 shares during the period. 96.03% of the stock is owned by institutional investors.

Cross Country Healthcare Stock Performance

Shares of Cross Country Healthcare stock traded down $0.01 during trading on Tuesday, reaching $17.92. The company’s stock had a trading volume of 214,841 shares, compared to its average volume of 607,516. Cross Country Healthcare has a one year low of $9.58 and a one year high of $23.64. The firm has a market cap of $589.87 million, a price-to-earnings ratio of -358.40, a price-to-earnings-growth ratio of 3.39 and a beta of 0.61. The business’s fifty day moving average price is $12.59 and its 200-day moving average price is $13.85.

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.