CoreCivic (NYSE:CXW) Stock Price Up 6.2% – What’s Next?

CoreCivic, Inc. (NYSE:CXW)’s stock price traded up 6.2% during trading on Wednesday . The company traded as high as $19.05 and last traded at $19.17. 897,624 shares changed hands during trading, a decline of 29% from the average session volume of 1,260,667 shares. The stock had previously closed at $18.04.

Analyst Ratings Changes

CXW has been the subject of several research reports. Northland Securities raised their price objective on shares of CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Wedbush reissued an “outperform” rating and issued a $30.00 price target on shares of CoreCivic in a report on Tuesday. Finally, Noble Financial raised CoreCivic from a “market perform” rating to an “outperform” rating in a report on Wednesday.

CoreCivic Stock Performance

The firm has a market capitalization of $2.13 billion, a P/E ratio of 28.88 and a beta of 1.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.51. The stock’s 50 day moving average is $21.35 and its two-hundred day moving average is $17.28.

CoreCivic (NYSE:CXW) last posted its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. CoreCivic had a return on equity of 6.55% and a net margin of 3.85%. As a group, equities analysts anticipate that CoreCivic, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Transactions at CoreCivic

In other CoreCivic news, EVP Anthony L. Grande sold 26,000 shares of CoreCivic stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $22.18, for a total transaction of $576,680.00. Following the transaction, the executive vice president now directly owns 127,380 shares in the company, valued at approximately $2,825,288.40. The trade was a 16.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark A. Emkes sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $22.70, for a total value of $363,200.00. Following the completion of the transaction, the director now owns 149,264 shares of the company’s stock, valued at $3,388,292.80. This represents a 9.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.89% of the company’s stock.

Institutional Investors Weigh In On CoreCivic

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its position in CoreCivic by 318.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 1,859 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of CoreCivic by 77.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 1,632 shares during the last quarter. KBC Group NV grew its holdings in shares of CoreCivic by 57.3% in the 4th quarter. KBC Group NV now owns 5,477 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 1,995 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in CoreCivic during the fourth quarter worth about $155,000. Finally, nVerses Capital LLC boosted its position in CoreCivic by 177.4% during the third quarter. nVerses Capital LLC now owns 8,600 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 5,500 shares during the last quarter. 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.