Cross Country Healthcare director Larry Cash buys $61,320 in stock

W. Larry Cash, a director at Cross Country Healthcare Inc. (NASDAQ:CCRN), has made notable purchases of the company's common stock, according to a recent SEC filing. On August 28, 2017, Cash acquired 2,000 shares at a price of $12.08 per share. Subsequently, on August 10, 2018, he bought an additional 4,000 shares at $9.29 per share. These transactions amount to a total investment of $61,320. Following these acquisitions, Cash holds 199,632 shares in the company, reflecting his continued confidence in Cross Country Healthcare's prospects.The company, now valued at approximately $598 million, has maintained strong financial health with a "GREAT" rating according to InvestingPro analysis. The stock currently trades at $18.16, with management continuing their share buyback program. The company's solid liquidity position is evidenced by a current ratio of 2.79, indicating strong short-term financial stability.Want deeper insights into insider trading patterns and 14+ additional ProTips? Discover more with InvestingPro's comprehensive analysis tools and research reports.

In other recent news, Cross Country Healthcare has been a focal point of significant developments. The company entered into an acquisition agreement with Aya Healthcare, a private company, for an all-cash transaction valued at approximately $615 million. The deal, approved by Cross Country's Board of Directors, is expected to provide immediate value to Cross Country stockholders. Truist Securities has raised its price target for Cross Country Healthcare to $18.61, aligning with the acquisition bid by Aya Healthcare.

The merger is expected to expand Aya's coverage to include Cross Country's work in non-clinical settings. Upon completion, Cross Country will transition from its strong liquidity position and minimal debt levels to become a privately held company. Truist Securities maintains a Hold rating on the stock, reflecting the recent developments.

Cross Country Healthcare also disclosed its Q3 2024 financial results and provided an outlook for Q4 2024. The earnings call was led by the company's leadership, including President and CEO John Martins and CFO Bill Burns. The company did not provide explicit details on any areas where it fell short of expectations in the third quarter, but it acknowledged that forward-looking statements are subject to various risks and uncertainties.

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