Short Interest in Cross Country Healthcare, Inc. (NASDAQ:CCRN) Drops By 7.3%

Cross Country Healthcare, Inc. (NASDAQ:CCRNGet Free Report) was the target of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 5,110,000 shares, a decrease of 7.3% from the January 31st total of 5,510,000 shares. Based on an average daily volume of 486,600 shares, the short-interest ratio is currently 10.5 days. Currently, 15.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On Cross Country Healthcare

A number of large investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. raised its stake in Cross Country Healthcare by 176.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 8,179 shares of the business services provider’s stock worth $177,000 after acquiring an additional 5,216 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Cross Country Healthcare by 118.6% in the first quarter. JPMorgan Chase & Co. now owns 256,032 shares of the business services provider’s stock valued at $5,548,000 after buying an additional 138,906 shares during the last quarter. US Bancorp DE acquired a new position in Cross Country Healthcare in the 1st quarter worth approximately $27,000. Citigroup Inc. raised its position in Cross Country Healthcare by 5.9% during the 1st quarter. Citigroup Inc. now owns 31,568 shares of the business services provider’s stock worth $684,000 after buying an additional 1,751 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Cross Country Healthcare by 9.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 23,527 shares of the business services provider’s stock valued at $510,000 after acquiring an additional 2,027 shares during the period. 96.03% of the stock is owned by hedge funds and other institutional investors.

Cross Country Healthcare Trading Up 0.7 %

Shares of CCRN stock traded up $0.13 during trading hours on Monday, reaching $18.55. 345,660 shares of the company’s stock were exchanged, compared to its average volume of 552,613. Cross Country Healthcare has a fifty-two week low of $15.65 and a fifty-two week high of $28.75. The stock’s 50 day moving average is $20.97 and its 200-day moving average is $22.06. The company has a market cap of $644.24 million, a price-to-earnings ratio of 9.14, a P/E/G ratio of 1.95 and a beta of 0.74.

Cross Country Healthcare (NASDAQ:CCRNGet Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. The firm had revenue of $414.04 million for the quarter, compared to the consensus estimate of $404.42 million. Cross Country Healthcare had a net margin of 3.60% and a return on equity of 16.93%. The company’s revenue for the quarter was down 34.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 earnings per share. Equities analysts anticipate that Cross Country Healthcare will post 0.94 EPS for the current year.

Analyst Ratings Changes

CCRN has been the subject of several research reports. Benchmark lowered their price objective on shares of Cross Country Healthcare from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Truist Financial reduced their price objective on Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. UBS Group started coverage on shares of Cross Country Healthcare in a report on Thursday, November 30th. They issued a “neutral” rating and a $22.00 price target for the company. Barrington Research dropped their price objective on shares of Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Finally, JMP Securities assumed coverage on shares of Cross Country Healthcare in a report on Wednesday, December 6th. They set a “market perform” rating on the stock. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.86.

Check Out Our Latest Analysis on CCRN

About Cross Country Healthcare

(Get Free Report)

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company operates in two segments, Nurse and Allied Staffing, and Physician Staffing. The Nurse and Allied Staffing segment provides workforce solutions and 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; managed services programs services; education healthcare services; in-home care services; and outsourcing services.

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