CoreCivic (NYSE:CXW) Sees Large Volume Increase Following Analyst Upgrade

Shares of CoreCivic, Inc. (NYSE:CXW) saw unusually-strong trading volume on Friday after Northland Securities raised their price target on the stock from $17.00 to $32.00. Northland Securities currently has an outperform rating on the stock. Approximately 1,509,561 shares traded hands during mid-day trading, an increase of 57% from the previous session’s volume of 959,873 shares.The stock last traded at $23.31 and had previously closed at $22.08.

Separately, Wedbush reissued a “neutral” rating and issued a $14.00 target price on shares of CoreCivic in a report on Friday, September 13th.

Insider Buying and Selling at CoreCivic

In related news, EVP Cole G. Carter sold 8,000 shares of CoreCivic stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $12.58, for a total value of $100,640.00. Following the sale, the executive vice president now directly owns 207,847 shares in the company, valued at $2,614,715.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other CoreCivic news, EVP Cole G. Carter sold 8,000 shares of CoreCivic stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $12.58, for a total transaction of $100,640.00. Following the sale, the executive vice president now owns 207,847 shares of the company’s stock, valued at $2,614,715.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David Garfinkle sold 25,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $13.60, for a total value of $340,000.00. Following the transaction, the chief financial officer now owns 326,528 shares of the company’s stock, valued at $4,440,780.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 169,996 shares of company stock worth $2,177,640. 1.89% of the stock is owned by insiders.

Hedge Funds Weigh In On CoreCivic

Several large investors have recently bought and sold shares of the stock. Lee Danner & Bass Inc. bought a new stake in shares of CoreCivic in the 2nd quarter worth $6,818,000. Courage Capital Management LLC bought a new stake in CoreCivic in the first quarter worth about $5,323,000. SG Americas Securities LLC boosted its position in shares of CoreCivic by 1,740.4% during the 3rd quarter. SG Americas Securities LLC now owns 295,131 shares of the real estate investment trust’s stock valued at $3,733,000 after purchasing an additional 279,095 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of CoreCivic by 85.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 400,896 shares of the real estate investment trust’s stock worth $5,204,000 after purchasing an additional 185,075 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of CoreCivic by 102.2% in the 2nd quarter. Marshall Wace LLP now owns 213,880 shares of the real estate investment trust’s stock worth $2,776,000 after purchasing an additional 108,079 shares in the last quarter. Institutional investors and hedge funds own 85.13% of the company’s stock.

CoreCivic Trading Up 1.9 %

The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 33.60 and a beta of 0.86. The firm’s 50 day moving average is $13.68 and its 200 day moving average is $13.84.

CoreCivic (NYSE:CXW) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.20). The company had revenue of $490.11 million for the quarter, compared to the consensus estimate of $481.87 million. CoreCivic had a return on equity of 6.57% and a net margin of 3.85%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 earnings per share. Equities analysts forecast that CoreCivic, Inc. will post 1.51 earnings per share for the current year.

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.