CoreCivic, Inc. (NYSE:CXW – Get Free Report) shares were up 5.4% during mid-day trading on Tuesday . The stock traded as high as $12.07 and last traded at $12.06. Approximately 499,688 shares changed hands during trading, a decline of 46% from the average daily volume of 923,570 shares. The stock had previously closed at $11.44.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on CXW shares. Noble Financial lowered shares of CoreCivic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 12th. StockNews.com lowered shares of CoreCivic from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Wedbush lowered shares of CoreCivic from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $19.00 to $14.00 in a report on Tuesday, June 11th. Finally, Northland Securities upped their price objective on shares of CoreCivic from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th.
CoreCivic Trading Up 6.6 %
The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market capitalization of $1.36 billion, a PE ratio of 20.44 and a beta of 0.87. The business’s 50-day moving average price is $14.53 and its 200-day moving average price is $14.61.
CoreCivic (NYSE:CXW – Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.12). CoreCivic had a return on equity of 5.74% and a net margin of 3.34%. The company had revenue of $500.69 million for the quarter, compared to analyst estimates of $477.93 million. During the same period in the prior year, the business earned $0.34 earnings per share. CoreCivic’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts expect that CoreCivic, Inc. will post 1.52 earnings per share for the current fiscal year.
Insider Buying and Selling at CoreCivic
In other CoreCivic news, EVP Anthony L. Grande sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $15.51, for a total value of $232,650.00. Following the completion of the sale, the executive vice president now owns 168,380 shares of the company’s stock, valued at $2,611,573.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other CoreCivic news, EVP Anthony L. Grande sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $15.51, for a total value of $232,650.00. Following the completion of the sale, the executive vice president now owns 168,380 shares of the company’s stock, valued at $2,611,573.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO David Garfinkle sold 19,900 shares of CoreCivic stock in a transaction on Monday, May 20th. The stock was sold at an average price of $15.18, for a total value of $302,082.00. Following the transaction, the chief financial officer now directly owns 361,628 shares of the company’s stock, valued at approximately $5,489,513.04. The disclosure for this sale can be found here. 2.21% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in CoreCivic by 1,050.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,138,544 shares of the real estate investment trust’s stock worth $45,603,000 after purchasing an additional 2,865,763 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in CoreCivic by 1,284.1% in the 4th quarter. Teacher Retirement System of Texas now owns 545,967 shares of the real estate investment trust’s stock valued at $7,933,000 after buying an additional 506,522 shares during the period. Courage Capital Management LLC purchased a new stake in CoreCivic in the 1st quarter valued at about $5,323,000. AWH Capital L.P. grew its holdings in CoreCivic by 88.7% in the 3rd quarter. AWH Capital L.P. now owns 425,500 shares of the real estate investment trust’s stock valued at $4,787,000 after buying an additional 200,000 shares during the period. Finally, Trexquant Investment LP grew its holdings in CoreCivic by 173.5% in the 4th quarter. Trexquant Investment LP now owns 192,456 shares of the real estate investment trust’s stock valued at $2,796,000 after buying an additional 122,096 shares during the period. Institutional investors and hedge funds own 85.13% of the company’s stock.
CoreCivic Company Profile
CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions.