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

Cross Country Healthcare, Inc. (NASDAQ:CCRN) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 2,560,000 shares, a decrease of 20.7% from the December 15th total of 3,230,000 shares. Based on an average daily trading volume, of 894,600 shares, the days-to-cover ratio is currently 2.9 days. Currently, 8.4% of the company’s shares are sold short.

Institutional Trading of Cross Country Healthcare

Several hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in shares of Cross Country Healthcare during the third quarter valued at approximately $153,000. Barclays PLC raised its stake in Cross Country Healthcare by 117.5% during the 3rd quarter. Barclays PLC now owns 80,277 shares of the business services provider’s stock valued at $1,078,000 after acquiring an additional 43,372 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Cross Country Healthcare by 5,077.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 58,144 shares of the business services provider’s stock valued at $781,000 after acquiring an additional 57,021 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Cross Country Healthcare in the third quarter worth $312,000. Finally, Jane Street Group LLC raised its stake in shares of Cross Country Healthcare by 337.6% during the third quarter. Jane Street Group LLC now owns 181,492 shares of the business services provider’s stock valued at $2,439,000 after purchasing an additional 140,013 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Analyst Ratings Changes

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

Cross Country Healthcare Price Performance

CCRN stock remained flat at $18.12 on Thursday. 390,471 shares of the company traded hands, compared to its average volume of 596,077. The firm has a market cap of $596.51 million, a PE ratio of -362.33, a price-to-earnings-growth ratio of 3.35 and a beta of 0.46. The company has a fifty day simple moving average of $15.37 and a two-hundred day simple moving average of $14.45. Cross Country Healthcare has a 1 year low of $9.58 and a 1 year high of $23.15.

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.