CoreCivic (NYSE:CXW) Given “Neutral” Rating at Wedbush

Wedbush reaffirmed their neutral rating on shares of CoreCivic (NYSE:CXWFree Report) in a research note released on Friday morning, Benzinga reports. They currently have a $14.00 target price on the real estate investment trust’s stock.

Separately, Noble Financial cut CoreCivic from a strong-buy rating to a hold rating in a research note on Wednesday, June 12th.

View Our Latest Stock Report on CXW

CoreCivic Trading Up 2.8 %

Shares of NYSE:CXW opened at $13.16 on Friday. CoreCivic has a 12-month low of $10.11 and a 12-month high of $16.54. The stock has a market cap of $1.45 billion, a PE ratio of 23.34 and a beta of 0.87. The business has a 50 day moving average of $13.44 and a 200-day moving average of $14.23. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.70.

CoreCivic (NYSE:CXWGet Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $481.87 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The company’s revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts forecast that CoreCivic will post 1.49 earnings per share for the current year.

Insider Activity at CoreCivic

In related news, CEO Damon T. Hininger sold 31,996 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $12.50, for a total value of $399,950.00. Following the completion of the sale, the chief executive officer now directly owns 788,266 shares in the company, valued at $9,853,325. The sale was disclosed in a filing with the SEC, which is available at this link. In other CoreCivic news, CFO David Garfinkle sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $13.60, for a total transaction of $340,000.00. Following the completion of the transaction, the chief financial officer now directly owns 326,528 shares in the company, valued at $4,440,780.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Damon T. Hininger sold 31,996 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $12.50, for a total transaction of $399,950.00. Following the transaction, the chief executive officer now owns 788,266 shares of the company’s stock, valued at $9,853,325. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 161,996 shares of company stock worth $2,077,000. Company insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd increased its holdings in shares of CoreCivic by 255.5% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 53,429 shares of the real estate investment trust’s stock worth $776,000 after buying an additional 38,398 shares in the last quarter. Trexquant Investment LP increased its holdings in shares of CoreCivic by 173.5% during the fourth quarter. Trexquant Investment LP now owns 192,456 shares of the real estate investment trust’s stock worth $2,796,000 after buying an additional 122,096 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of CoreCivic by 1.7% during the fourth quarter. Franklin Resources Inc. now owns 181,433 shares of the real estate investment trust’s stock worth $2,636,000 after buying an additional 3,014 shares in the last quarter. Chesapeake Capital Corp IL acquired a new position in shares of CoreCivic during the fourth quarter worth $689,000. Finally, Allianz Asset Management GmbH increased its holdings in shares of CoreCivic by 15.4% during the fourth quarter. Allianz Asset Management GmbH now owns 688,497 shares of the real estate investment trust’s stock worth $10,004,000 after buying an additional 92,112 shares in the last quarter. 85.13% of the stock is currently owned by institutional investors and hedge funds.

CoreCivic Company Profile

(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.

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