CoreCivic (NYSE:CXW) Shares Gap Up Following Analyst Upgrade

Shares of CoreCivic, Inc. (NYSE:CXW) gapped up before the market opened on Monday after Northland Securities raised their price target on the stock from $17.00 to $32.00. The stock had previously closed at $22.52, but opened at $24.75. Northland Securities currently has an outperform rating on the stock. CoreCivic shares last traded at $24.38, with a volume of 685,542 shares changing hands.

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

Insider Activity

In related news, CFO David Garfinkle sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.20, for a total value of $1,210,000.00. Following the sale, the chief financial officer now owns 276,528 shares of the company’s stock, valued at approximately $6,691,977.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other CoreCivic news, insider David K. Churchill sold 15,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $13.61, for a total value of $204,150.00. Following the completion of the transaction, the insider now owns 214,056 shares in the company, valued at approximately $2,913,302.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David Garfinkle sold 50,000 shares of CoreCivic stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $24.20, for a total value of $1,210,000.00. Following the sale, the chief financial officer now directly owns 276,528 shares in the company, valued at approximately $6,691,977.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 108,000 shares of company stock valued at $2,094,790. 1.89% of the stock is currently owned by insiders.

Institutional Trading of CoreCivic

Several large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in shares of CoreCivic in the second quarter worth $29,000. nVerses Capital LLC acquired a new position in CoreCivic during the 2nd quarter valued at about $40,000. GAMMA Investing LLC raised its position in shares of CoreCivic by 77.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 1,632 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of CoreCivic in the 1st quarter worth approximately $84,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of CoreCivic in the first quarter valued at approximately $87,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.

CoreCivic Stock Down 7.6 %

The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 33.03 and a beta of 0.86. The stock’s 50 day moving average is $14.07 and its 200 day moving average is $13.94. The company has a quick ratio of 1.44, a current ratio of 1.51 and a debt-to-equity ratio of 0.66.

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.