CoreCivic, Inc. (NYSE:CXW) Short Interest Up 7.3% in August

CoreCivic, Inc. (NYSE:CXW) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 4,560,000 shares, a growth of 7.3% from the August 15th total of 4,250,000 shares. Currently, 4.3% of the company’s shares are short sold. Based on an average daily trading volume, of 1,060,000 shares, the short-interest ratio is presently 4.3 days.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Noble Financial lowered CoreCivic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Wedbush reissued a “neutral” rating and set a $14.00 target price on shares of CoreCivic in a research note on Friday, September 13th.

Insiders Place Their Bets

In other news, insider David K. Churchill sold 35,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $12.62, for a total value of $441,700.00. Following the transaction, the insider now owns 229,056 shares of the company’s stock, valued at approximately $2,890,686.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider David K. Churchill sold 15,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 214,056 shares of the company’s stock, valued at approximately $2,913,302.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David K. Churchill sold 35,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $12.62, for a total value of $441,700.00. Following the completion of the transaction, the insider now directly owns 229,056 shares in the company, valued at approximately $2,890,686.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 161,996 shares of company stock valued at $2,077,000. Insiders own 1.89% of the company’s stock.

Institutional Investors Weigh In On CoreCivic

Several large investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC increased its holdings in CoreCivic by 2.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 29,509 shares of the real estate investment trust’s stock worth $383,000 after purchasing an additional 804 shares during the period. SummerHaven Investment Management LLC increased its holdings in CoreCivic by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 79,592 shares of the real estate investment trust’s stock worth $1,033,000 after purchasing an additional 998 shares during the period. Texas Permanent School Fund Corp increased its holdings in CoreCivic by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 99,426 shares of the real estate investment trust’s stock worth $1,552,000 after purchasing an additional 1,330 shares during the period. The Manufacturers Life Insurance Company increased its holdings 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 increased its holdings in shares of CoreCivic by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 22,927 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 1,578 shares during the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

CoreCivic Trading Down 3.6 %

CXW traded down $0.48 during mid-day trading on Wednesday, hitting $12.88. 1,256,821 shares of the stock were exchanged, compared to its average volume of 922,726. The firm’s fifty day moving average is $13.44 and its two-hundred day moving average is $14.19. CoreCivic has a 1-year low of $10.11 and a 1-year high of $16.54. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.43 billion, a PE ratio of 23.14 and a beta of 0.87.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.20). CoreCivic had a return on equity of 6.10% and a net margin of 3.50%. The firm had revenue of $490.11 million for the quarter, compared to analyst estimates of $481.87 million. During the same period in the previous year, the company posted $0.33 EPS. CoreCivic’s revenue was up 5.7% on a year-over-year basis. Equities analysts forecast that CoreCivic will post 1.49 earnings per share for the current fiscal 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.