Short Interest in Cross Country Healthcare, Inc. (NASDAQ:CCRN) Declines By 20.7%

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

Institutional Investors Weigh In On Cross Country Healthcare

A number of institutional investors have recently modified their holdings of CCRN. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Cross Country Healthcare during the third quarter worth $7,350,000. Royce & Associates LP raised its stake in shares of Cross Country Healthcare by 51.4% during the 3rd quarter. Royce & Associates LP now owns 1,132,566 shares of the business services provider’s stock worth $15,222,000 after purchasing an additional 384,374 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Cross Country Healthcare by 3.8% during the 2nd quarter. Pacer Advisors Inc. now owns 4,550,848 shares of the business services provider’s stock valued at $62,984,000 after buying an additional 165,032 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Cross Country Healthcare by 337.6% in the 3rd quarter. Jane Street Group LLC now owns 181,492 shares of the business services provider’s stock valued at $2,439,000 after buying an additional 140,013 shares in the last quarter. Finally, Systematic Financial Management LP increased its holdings in Cross Country Healthcare by 8.5% in the third quarter. Systematic Financial Management LP now owns 1,662,730 shares of the business services provider’s stock worth $22,347,000 after buying an additional 130,746 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Cross Country Healthcare Stock Performance

Shares of NASDAQ CCRN traded up $0.06 during mid-day trading on Friday, reaching $18.18. The company had a trading volume of 654,288 shares, compared to its average volume of 526,813. The company has a market capitalization of $598.49 million, a price-to-earnings ratio of -363.53, a PEG ratio of 3.35 and a beta of 0.46. The stock has a fifty day moving average of $15.53 and a two-hundred day moving average of $14.49. Cross Country Healthcare has a 12-month low of $9.58 and a 12-month high of $23.15.

Analysts Set New Price Targets

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

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.