Cross Country Healthcare, Inc. (NASDAQ:CCRN) Short Interest Up 23.3% in December

Cross Country Healthcare, Inc. (NASDAQ:CCRN) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 3,230,000 shares, a growth of 23.3% from the November 30th total of 2,620,000 shares. Currently, 10.6% of the company’s stock are sold short. Based on an average daily trading volume, of 1,070,000 shares, the days-to-cover ratio is currently 3.0 days.

Cross Country Healthcare Price Performance

Shares of Cross Country Healthcare stock traded up $0.11 during trading on Tuesday, hitting $18.17. 173,064 shares of the company’s stock traded hands, compared to its average volume of 603,119. The stock has a market capitalization of $598.10 million, a P/E ratio of -363.33, a PEG ratio of 3.39 and a beta of 0.61. The business has a 50-day simple moving average of $13.69 and a 200-day simple moving average of $14.09. Cross Country Healthcare has a 1 year low of $9.58 and a 1 year high of $23.64.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. bought a new stake in shares of Cross Country Healthcare during the 3rd quarter valued at about $7,350,000. Royce & Associates LP raised its position in Cross Country Healthcare by 51.4% in the third quarter. Royce & Associates LP now owns 1,132,566 shares of the business services provider’s stock worth $15,222,000 after acquiring an additional 384,374 shares during the period. Pacer Advisors Inc. boosted its stake 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 worth $62,984,000 after acquiring an additional 165,032 shares during the last quarter. Jane Street Group LLC grew its position in shares of Cross Country Healthcare by 337.6% during 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 acquiring an additional 140,013 shares during the period. Finally, Systematic Financial Management LP grew its position in shares of Cross Country Healthcare by 8.5% during the 3rd quarter. Systematic Financial Management LP now owns 1,662,730 shares of the business services provider’s stock valued at $22,347,000 after acquiring an additional 130,746 shares during the period. 96.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on CCRN. Benchmark downgraded shares of Cross Country Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Barrington Research reiterated a “market perform” rating on shares of Cross Country Healthcare in a research note on Tuesday, December 10th. StockNews.com started coverage on Cross Country Healthcare in a research note on Monday. They issued a “hold” rating on the stock. Truist Financial lifted their price target 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, 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. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.