CoreCivic (NYSE:CXW) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of CoreCivic (NYSE:CXWFree Report) from a buy rating to a hold rating in a report released on Saturday morning.

CXW has been the subject of a number of other research reports. Wedbush upped their target price on CoreCivic from $14.00 to $17.00 and gave the stock an outperform rating in a report on Wednesday, November 8th. Northland Securities initiated coverage on CoreCivic in a research report on Thursday, October 19th. They set an outperform rating and a $16.00 price target on the stock.

Read Our Latest Stock Report on CXW

CoreCivic Price Performance

Shares of CoreCivic stock opened at $14.41 on Friday. The stock’s 50-day simple moving average is $14.24 and its 200-day simple moving average is $12.35. CoreCivic has a 52 week low of $7.84 and a 52 week high of $15.12. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 25.28 and a beta of 0.81. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.72.

CoreCivic (NYSE:CXWGet Free Report) last released its earnings results on Monday, November 6th. The real estate investment trust reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.20). CoreCivic had a net margin of 3.49% and a return on equity of 4.64%. The business had revenue of $483.71 million for the quarter, compared to the consensus estimate of $474.75 million. As a group, analysts expect that CoreCivic will post 1.42 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Cole G. Carter sold 39,345 shares of CoreCivic stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $13.53, for a total value of $532,337.85. Following the completion of the sale, the executive vice president now owns 181,817 shares in the company, valued at approximately $2,459,984.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.89% of the company’s stock.

Institutional Investors Weigh In On CoreCivic

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in CoreCivic by 1.1% during the first quarter. BlackRock Inc. now owns 18,939,729 shares of the real estate investment trust’s stock worth $174,246,000 after purchasing an additional 199,682 shares in the last quarter. FMR LLC raised its holdings in CoreCivic by 0.6% during the third quarter. FMR LLC now owns 8,597,388 shares of the real estate investment trust’s stock worth $96,721,000 after purchasing an additional 53,395 shares in the last quarter. State Street Corp grew its position in CoreCivic by 1.1% during the second quarter. State Street Corp now owns 4,239,868 shares of the real estate investment trust’s stock worth $47,105,000 after buying an additional 48,018 shares during the period. Cooper Creek Partners Management LLC grew its position in CoreCivic by 24.2% during the third quarter. Cooper Creek Partners Management LLC now owns 3,297,002 shares of the real estate investment trust’s stock worth $37,091,000 after buying an additional 641,576 shares during the period. Finally, Boston Partners grew its position in CoreCivic by 13.7% during the third quarter. Boston Partners now owns 2,910,746 shares of the real estate investment trust’s stock worth $33,343,000 after buying an additional 351,508 shares during the period. 80.89% of the stock is owned by hedge funds and other institutional investors.

About CoreCivic

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for CoreCivic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoreCivic and related companies with MarketBeat.com's FREE daily email newsletter.