CoreCivic, Inc. (NYSE:CXW) Short Interest Update

CoreCivic, Inc. (NYSE:CXW) was the target of a large decrease in short interest in May. As of May 31st, there was short interest totalling 4,170,000 shares, a decrease of 5.2% from the May 15th total of 4,400,000 shares. Based on an average daily volume of 844,500 shares, the days-to-cover ratio is currently 4.9 days. Currently, 3.8% of the company’s stock are sold short.

CoreCivic Trading Down 2.2 %

CoreCivic stock opened at $11.30 on Wednesday. The firm has a 50 day simple moving average of $14.86 and a 200-day simple moving average of $14.68. 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 stock has a market capitalization of $1.26 billion, a PE ratio of 20.18 and a beta of 0.87. CoreCivic has a 12-month low of $9.06 and a 12-month high of $16.54.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.12). The company had revenue of $500.69 million during the quarter, compared to the consensus estimate of $477.93 million. CoreCivic had a net margin of 3.34% and a return on equity of 5.74%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned $0.34 earnings per share. As a group, equities research analysts expect that CoreCivic will post 1.59 EPS for the current fiscal year.

Insider Activity

In related news, CFO David Garfinkle sold 19,900 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $15.18, for a total transaction of $302,082.00. Following the completion of the sale, the chief financial officer now owns 361,628 shares of the company’s stock, valued at approximately $5,489,513.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other CoreCivic news, EVP Anthony L. Grande sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $15.51, for a total value of $232,650.00. Following the completion of the transaction, the executive vice president now owns 168,380 shares in the company, valued at approximately $2,611,573.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David Garfinkle sold 19,900 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $15.18, for a total transaction of $302,082.00. Following the completion of the transaction, the chief financial officer now 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. Company insiders own 2.21% of the company’s stock.

Institutional Trading of CoreCivic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its stake in CoreCivic by 1.0% during the fourth quarter. SummerHaven Investment Management LLC now owns 77,913 shares of the real estate investment trust’s stock valued at $1,132,000 after purchasing an additional 760 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in CoreCivic by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 99,426 shares of the real estate investment trust’s stock valued at $1,552,000 after purchasing an additional 1,330 shares during the last quarter. ProShare Advisors LLC lifted its stake in CoreCivic by 7.4% during the first quarter. ProShare Advisors LLC now owns 22,927 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 1,578 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in CoreCivic by 3.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 67,663 shares of the real estate investment trust’s stock valued at $1,056,000 after purchasing an additional 1,954 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of CoreCivic in the 4th quarter valued at approximately $29,000. 85.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Northland Securities upped their target price on shares of CoreCivic from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Wedbush cut shares of CoreCivic from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $19.00 to $14.00 in a research report on Tuesday, June 11th. StockNews.com cut shares of CoreCivic from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. Finally, Noble Financial cut shares of CoreCivic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 12th.

About CoreCivic

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.