In a recent transaction, Karen Mote, President of Cross Country Locums, part of Cross Country Healthcare Inc. (NASDAQ:CCRN), sold 6,216 shares of the company's common stock. The sale, dated March 15, 2024, totaled approximately $105,361, with the shares being sold at a weighted average price of $16.95.
Investors following Cross Country Healthcare's insider transactions will note that the shares were sold in multiple transactions at prices ranging from $16.94 to $16.971. Following the sale, Mote's direct ownership in the company stands at 35,101 shares.
The sale was publicly reported in a Form 4 document filed with the Securities and Exchange Commission (SEC) on March 18, 2024. Form 4 filings are required for insider transactions and provide transparency into the buying and selling activities of a company's officers and directors.
Cross Country Healthcare, headquartered in Boca Raton, Florida, specializes in providing healthcare staffing services. The company has been a key player in the industry, reflected in its stock's presence on the NASDAQ.
For those tracking insider trades as an indicator of company health and management sentiment, this recent sale by a leading executive may be of interest. However, it's important to consider that insider transactions can be motivated by a variety of factors and may not always provide clear directional signals regarding a company's future performance.
InvestingPro Insights
In light of the recent insider sale at Cross Country Healthcare Inc. (NASDAQ:CCRN), investors may find additional context in the company's financial metrics and market performance. The InvestingPro data reveals a market capitalization of $621.59 million and a price-to-earnings (P/E) ratio standing at 8.61, which is below the adjusted P/E ratio for the last twelve months as of Q4 2023 at 7.99. This suggests that the company is potentially undervalued compared to its earnings.
However, the company's revenue growth presents a different picture, showing a significant decline of 28.04% over the last twelve months as of Q4 2023. This decline is further emphasized by a quarterly revenue growth drop of 34.09% in Q4 2023. Despite this, Cross Country Healthcare maintains a gross profit margin of 22.3%, indicating that it still retains a certain level of profitability in its operations.
Two InvestingPro Tips that stand out in this context are the management's aggressive share buyback program and the valuation that implies a strong free cash flow yield. These factors suggest that the company's leadership is confident in its financial stability and future prospects. It's also notable that the company is trading at a low revenue valuation multiple, which might appeal to value-oriented investors.
For investors seeking more comprehensive analysis, there are an additional 11 InvestingPro Tips available for Cross Country Healthcare, which can be found at https://www.investing.com/pro/CCRN. These tips could provide deeper insights into the company's financial health and future outlook. To access these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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