CoreCivic (NYSE:CXW) Stock Price Down 5.8% – Should You Sell?

CoreCivic, Inc. (NYSE:CXW) shares fell 5.8% during mid-day trading on Tuesday . The stock traded as low as $20.03 and last traded at $19.66. 363,982 shares were traded during trading, a decline of 65% from the average session volume of 1,026,404 shares. The stock had previously closed at $20.87.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CXW. Northland Securities lifted their target price on CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Wedbush raised CoreCivic from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $19.00 to $30.00 in a research note on Tuesday, December 10th.

CoreCivic Trading Up 1.2 %

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 50 day simple moving average of $21.82 and a 200-day simple moving average of $16.99. The firm has a market cap of $2.29 billion, a P/E ratio of 30.99 and a beta of 1.01.

Insider Activity

In other CoreCivic news, Director Anne L. Mariucci sold 10,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the sale, the director now directly owns 101,936 shares in the company, valued at approximately $2,446,464. This represents a 8.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Garfinkle sold 50,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $24.20, for a total value of $1,210,000.00. Following the completion of the sale, the chief financial officer now owns 276,528 shares of the company’s stock, valued at $6,691,977.60. This represents a 15.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,000 shares of company stock valued at $2,389,880. 1.89% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CoreCivic

Several hedge funds have recently made changes to their positions in CXW. SG Americas Securities LLC lifted its holdings in shares of CoreCivic by 1,740.4% in the 3rd quarter. SG Americas Securities LLC now owns 295,131 shares of the real estate investment trust’s stock worth $3,733,000 after buying an additional 279,095 shares during the period. Nisa Investment Advisors LLC raised its position in shares of CoreCivic by 13,071.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 253,147 shares of the real estate investment trust’s stock worth $5,503,000 after acquiring an additional 251,225 shares in the last quarter. Invenomic Capital Management LP raised its position in shares of CoreCivic by 28.7% in the 3rd quarter. Invenomic Capital Management LP now owns 1,026,050 shares of the real estate investment trust’s stock worth $12,980,000 after acquiring an additional 228,803 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of CoreCivic in the 3rd quarter worth $2,810,000. Finally, Weiss Asset Management LP raised its position in shares of CoreCivic by 74.3% in the 3rd quarter. Weiss Asset Management LP now owns 498,690 shares of the real estate investment trust’s stock worth $6,308,000 after acquiring an additional 212,569 shares in the last quarter. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

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.