Traders Purchase Large Volume of CoreCivic Call Options (NYSE:CXW)

CoreCivic, Inc. (NYSE:CXW) saw unusually large options trading activity on Monday. Stock traders acquired 3,274 call options on the company. This is an increase of approximately 106% compared to the typical daily volume of 1,588 call options.

CoreCivic Trading Down 7.6 %

Shares of CXW stock opened at $22.13 on Wednesday. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 33.03 and a beta of 0.86. The company has a current ratio of 1.51, a quick ratio of 1.44 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $14.07 and a 200 day moving average price of $13.94. CoreCivic has a twelve month low of $10.74 and a twelve month high of $24.99.

Wall Street Analyst Weigh In

CXW has been the topic of a number of research analyst reports. Northland Securities boosted their target price on CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Wedbush restated a “neutral” rating and set a $14.00 price objective on shares of CoreCivic in a research report on Friday, September 13th.

Insiders Place Their Bets

In other news, CFO David Garfinkle sold 50,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 276,528 shares in the company, valued at approximately $6,691,977.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other CoreCivic news, insider David K. Churchill sold 15,000 shares of CoreCivic stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $13.61, for a total value of $204,150.00. Following the sale, the insider now owns 214,056 shares of the company’s stock, valued at approximately $2,913,302.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the chief financial officer now owns 276,528 shares in the company, valued at approximately $6,691,977.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,000 shares of company stock valued at $2,094,790. 1.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CoreCivic

A number of institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC grew its stake in CoreCivic by 2.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 29,509 shares of the real estate investment trust’s stock worth $383,000 after acquiring an additional 804 shares during the period. SummerHaven Investment Management LLC increased its position in shares of CoreCivic by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 79,592 shares of the real estate investment trust’s stock worth $1,033,000 after acquiring an additional 998 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in shares of CoreCivic by 1.4% in the 1st 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 acquiring an additional 1,330 shares during the period. The Manufacturers Life Insurance Company boosted its position in CoreCivic by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,424 shares of the real estate investment trust’s stock worth $745,000 after purchasing an additional 1,401 shares during the period. Finally, ProShare Advisors LLC boosted its position in CoreCivic by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 22,927 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 1,578 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.