CoreCivic (NYSE:CXW) Stock Price Down 3.2%

CoreCivic, Inc. (NYSE:CXW)’s stock price was down 3.2% during trading on Wednesday . The company traded as low as $13.06 and last traded at $13.13. Approximately 257,124 shares changed hands during trading, a decline of 72% from the average daily volume of 933,607 shares. The stock had previously closed at $13.56.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CXW shares. Northland Securities increased their target price on shares of CoreCivic from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Noble Financial cut shares of CoreCivic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 12th. StockNews.com lowered shares of CoreCivic from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Wedbush lowered shares of CoreCivic from an “outperform” rating to a “neutral” rating and cut their price target for the company from $19.00 to $14.00 in a research note on Tuesday, June 11th.

CoreCivic Price Performance

The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 23.75 and a beta of 0.87. The stock’s 50 day moving average price is $14.20 and its two-hundred day moving average price is $14.54. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.68.

CoreCivic (NYSE:CXW) last released its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12). The business had revenue of $500.69 million during the quarter, compared to analyst estimates of $477.93 million. CoreCivic had a return on equity of 5.74% and a net margin of 3.34%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS. Equities research analysts forecast that CoreCivic, Inc. will post 1.52 EPS for the current fiscal year.

Insider Activity at CoreCivic

In related news, CFO David Garfinkle sold 19,900 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $15.18, for a total transaction of $302,082.00. Following the sale, the chief financial officer now owns 361,628 shares in the company, valued at $5,489,513.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO David Garfinkle sold 19,900 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $15.18, for a total transaction of $302,082.00. Following the sale, the chief financial officer now owns 361,628 shares in the company, valued at $5,489,513.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Anthony L. Grande sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $15.51, for a total transaction of $232,650.00. Following the sale, the executive vice president now owns 168,380 shares in the company, valued at approximately $2,611,573.80. The disclosure for this sale can be found here. 2.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On CoreCivic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new position in CoreCivic during the fourth quarter valued at $29,000. Criterion Capital Advisors LLC purchased a new position in shares of CoreCivic in the fourth quarter worth about $32,000. USA Financial Formulas purchased a new position in shares of CoreCivic in the fourth quarter worth about $69,000. EntryPoint Capital LLC purchased a new position in shares of CoreCivic in the first quarter worth about $84,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of CoreCivic in the first quarter worth about $87,000. 85.13% of the stock is owned by hedge funds and other institutional investors.

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.