CoreCivic (NYSE:CXW) Sees Strong Trading Volume – Time to Buy?

CoreCivic, Inc. (NYSE:CXW) shares saw unusually-strong trading volume on Friday . Approximately 811,686 shares changed hands during trading, a decline of 19% from the previous session’s volume of 1,000,360 shares.The stock last traded at $22.70 and had previously closed at $21.80.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CXW shares. Wedbush reaffirmed a “neutral” rating and set a $14.00 target price on shares of CoreCivic in a research note on Friday, September 13th. Northland Securities increased their target price on shares of CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th.

CoreCivic Stock Up 1.0 %

The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $2.43 billion, a P/E ratio of 32.81 and a beta of 0.86. The stock’s 50-day moving average price is $15.43 and its two-hundred day moving average price is $14.31.

Insider Buying and Selling at CoreCivic

In other 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 completion of the transaction, the executive vice president now owns 207,847 shares in the company, valued at $2,614,715.26. This trade represents a 3.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne L. Mariucci sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the transaction, the director now directly owns 101,936 shares of the company’s stock, valued at approximately $2,446,464. This trade represents a 8.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,000 shares of company stock worth $1,913,840 over the last ninety days. 1.89% of the stock is currently owned by company insiders.

Institutional Trading of CoreCivic

Institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in shares of CoreCivic during the second quarter valued at about $29,000. nVerses Capital LLC bought a new stake in CoreCivic during the 2nd quarter worth approximately $40,000. GAMMA Investing LLC lifted its stake in CoreCivic by 77.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 1,632 shares in the last quarter. Innealta Capital LLC purchased a new stake in CoreCivic in the 2nd quarter worth approximately $87,000. Finally, Chesapeake Capital Corp IL purchased a new position in shares of CoreCivic during the 3rd quarter valued at $139,000. Hedge funds and other institutional investors 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.