In a recent transaction, Marc S. Krug, Group President, Delivery of Cross Country Healthcare Inc. (NASDAQ:CCRN), sold 13,657 shares of the company's common stock. The shares were sold at an average price of $14.82, totaling approximately $202,396.
The sale took place on May 30, 2024, and was disclosed in a filing with the Securities and Exchange Commission. According to the details provided, the shares were sold at prices ranging from $14.70 to $14.9401. The weighted average price reflects the range of prices at which the shares were sold in multiple transactions.
Following the sale, Krug's remaining ownership in the company stands at 36,020 shares of common stock. This transaction appears to be part of the normal course of trading activities for executives and does not necessarily indicate a shift in the company’s management perspective or financial health.
Cross Country Healthcare, headquartered in Boca Raton, Florida, specializes in providing healthcare staffing services. The company operates under the Services-Help Supply Services sector and is known for offering a range of workforce solutions including travel nurse staffing, per diem nurse staffing, and physician staffing.
Investors often monitor the buying and selling activities of a company's executives as such transactions can provide insights into their confidence in the company's future prospects. However, it is also common for executives to sell shares for personal financial management reasons unrelated to their outlook on the company.
The transaction details, including the number of shares sold at each separate price within the reported range, are available upon request to the issuer, any security holder of the issuer, or the staff of the SEC.
InvestingPro Insights
In the context of the recent insider transaction at Cross Country Healthcare Inc. (NASDAQ:CCRN), where Group President Marc S. Krug sold shares, it's valuable for investors to consider additional data and insights. According to InvestingPro, the company's current Market Cap stands at approximately $512.92 million, and it is trading at a P/E Ratio of 11.23. Notably, the adjusted P/E Ratio for the last twelve months as of Q1 2024 is even lower, at 9.47, which may suggest that the stock is undervalued relative to its earnings.
InvestingPro Tips highlight that management at Cross Country Healthcare has been actively buying back shares, which can be a positive signal about the company's valuation and management's belief in the firm's prospects. Furthermore, the company's valuation implies a strong free cash flow yield, which is a key indicator of financial health and the company's ability to sustain and grow its operations.
For investors seeking a deeper dive into the company's financials and future outlook, InvestingPro offers additional insights. There are 14 more InvestingPro Tips available for Cross Country Healthcare, which can be accessed through the dedicated page at https://www.investing.com/pro/CCRN. These tips could provide further clarity on the company's sales expectations, revenue valuation multiples, and profitability forecasts.
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