Cross Country Healthcare, Inc. (NASDAQ:CCRN) Sees Large Decrease in Short Interest

Cross Country Healthcare, Inc. (NASDAQ:CCRN - Get Free Report) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totalling 2,100,000 shares, a decline of 17.6% from the April 30th total of 2,550,000 shares. Currently, 6.8% of the company's stock are sold short. Based on an average daily volume of 373,800 shares, the days-to-cover ratio is presently 5.6 days.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CCRN shares. Barrington Research reiterated a "market perform" rating and set a $18.61 price target on shares of Cross Country Healthcare in a report on Friday, March 14th. JMP Securities reiterated a "market perform" rating on shares of Cross Country Healthcare in a research note on Thursday, February 6th. UBS Group dropped their price target on shares of Cross Country Healthcare from $18.61 to $16.50 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Wall Street Zen began coverage on shares of Cross Country Healthcare in a report on Thursday, May 15th. They issued a "hold" rating for the company. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $17.93.

Cross Country Healthcare Price Performance

Shares of NASDAQ CCRN traded down $0.31 during trading hours on Wednesday, hitting $12.84. 164,935 shares of the stock were exchanged, compared to its average volume of 581,077. Cross Country Healthcare has a one year low of $9.58 and a one year high of $18.50. The company's 50 day moving average is $13.95 and its 200 day moving average is $15.69. The firm has a market capitalization of $420.93 million, a P/E ratio of -256.75, a P/E/G ratio of 3.32 and a beta of 0.38.

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. Cross Country Healthcare had a positive return on equity of 5.38% and a negative net margin of 0.12%. During the same period in the prior year, the company earned $0.19 EPS. The company's revenue for the quarter was down 22.6% on a year-over-year basis. Research analysts anticipate that Cross Country Healthcare will post 0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cross Country Healthcare

Several hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC acquired a new position in Cross Country Healthcare during the 4th quarter valued at $25,000. Plato Investment Management Ltd bought a new position in shares of Cross Country Healthcare during the 4th quarter worth about $46,000. Longfellow Investment Management Co. LLC acquired a new position in shares of Cross Country Healthcare during the first quarter valued at about $59,000. AlphaQuest LLC lifted its stake in shares of Cross Country Healthcare by 324.6% in the first quarter. AlphaQuest LLC now owns 8,297 shares of the business services provider's stock valued at $124,000 after buying an additional 6,343 shares during the period. Finally, Mint Tower Capital Management B.V. acquired a new stake in Cross Country Healthcare during the fourth quarter worth about $182,000. 96.03% of the stock is owned by 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'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.