Cross Country Healthcare, Inc. (NASDAQ:CCRN) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 587,000 shares, a decline of 18.4% from the March 31st total of 719,200 shares. Based on an average daily volume of 240,200 shares, the days-to-cover ratio is presently 2.4 days. Approximately 1.7% of the shares of the stock are short sold.
Several analysts have recently commented on the company. Barrington Research restated a “buy” rating and set a $12.00 target price on shares of Cross Country Healthcare in a report on Monday, February 22nd. Credit Suisse Group increased their price objective on shares of Cross Country Healthcare from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, March 3rd. Finally, Zacks Investment Research raised shares of Cross Country Healthcare from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Friday, February 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $10.19.
CCRN stock traded down $0.24 during mid-day trading on Tuesday, hitting $13.76. The stock had a trading volume of 2,734 shares, compared to its average volume of 231,428. The firm has a fifty day simple moving average of $12.86 and a 200 day simple moving average of $10.09. The firm has a market capitalization of $516.18 million, a P/E ratio of -26.92, a P/E/G ratio of 2.42 and a beta of 1.10. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.38. Cross Country Healthcare has a 52 week low of $4.50 and a 52 week high of $14.04.
Several large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its holdings in Cross Country Healthcare by 626.7% in the first quarter. Assenagon Asset Management S.A. now owns 203,127 shares of the business services provider’s stock worth $2,537,000 after buying an additional 175,175 shares during the period. BlackRock Inc. lifted its position in Cross Country Healthcare by 2.9% during the 4th quarter. BlackRock Inc. now owns 5,436,060 shares of the business services provider’s stock worth $48,219,000 after acquiring an additional 155,239 shares during the period. Brinker Capital Investments LLC acquired a new stake in Cross Country Healthcare in the 3rd quarter worth about $692,000. Silverleafe Capital Partners LLC purchased a new stake in shares of Cross Country Healthcare during the first quarter worth $1,265,000. Finally, Royce & Associates LP grew its position in shares of Cross Country Healthcare by 3.7% in the fourth quarter. Royce & Associates LP now owns 1,772,675 shares of the business services provider’s stock valued at $15,724,000 after purchasing an additional 63,720 shares in the last quarter. 88.37% of the stock is currently owned by hedge funds and other institutional investors.
About Cross Country Healthcare
Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company operates in three segments: Nurse and Allied Staffing, Physician Staffing, and Search. The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, branch-based local nurses, and allied staffing; short-term staffing of registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and travel allied professionals on long-term contract assignments, as well as workforce solutions, including MSP, OWS, RPO, IRP, EMR, and consulting services.
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