CoreCivic (NYSE:CXW) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of CoreCivic (NYSE:CXW) from a hold rating to a buy rating in a report released on Wednesday.

CXW has been the subject of several other research reports. Wedbush raised their price target on CoreCivic from $18.00 to $19.00 and gave the company an outperform rating in a report on Monday, April 8th. Northland Securities lifted their target price on CoreCivic from $17.00 to $19.00 and gave the stock an outperform rating in a report on Tuesday, March 26th.

CoreCivic Trading Up 0.2 %

NYSE CXW opened at $14.73 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.73. CoreCivic has a 12 month low of $7.84 and a 12 month high of $16.24. The stock has a market cap of $1.64 billion, a P/E ratio of 24.97 and a beta of 0.81. The stock’s fifty day moving average price is $15.02 and its 200-day moving average price is $14.08.

CoreCivic (NYSE:CXW) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.17). The firm had revenue of $491.25 million for the quarter, compared to analysts’ expectations of $489.62 million. CoreCivic had a net margin of 3.56% and a return on equity of 4.70%. As a group, equities analysts forecast that CoreCivic will post 1.31 EPS for the current fiscal year.

Insider Activity at CoreCivic

In related news, EVP Anthony L. Grande sold 15,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $14.50, for a total transaction of $217,500.00. Following the completion of the transaction, the executive vice president now owns 186,692 shares in the company, valued at approximately $2,707,034. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Damon T. Hininger sold 50,525 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $14.62, for a total value of $738,675.50. Following the completion of the transaction, the chief executive officer now directly owns 820,262 shares of the company’s stock, valued at approximately $11,992,230.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Anthony L. Grande sold 15,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $14.50, for a total value of $217,500.00. Following the completion of the transaction, the executive vice president now directly owns 186,692 shares of the company’s stock, valued at $2,707,034. The disclosure for this sale can be found here. 1.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in CoreCivic by 45.1% during the 3rd quarter. Wellington Management Group LLP now owns 374,701 shares of the real estate investment trust’s stock valued at $4,215,000 after purchasing an additional 116,542 shares during the last quarter. Boston Partners raised its holdings in shares of CoreCivic by 13.7% during the third quarter. Boston Partners now owns 2,910,746 shares of the real estate investment trust’s stock valued at $33,343,000 after acquiring an additional 351,508 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of CoreCivic in the third quarter valued at approximately $792,000. Jennison Associates LLC acquired a new stake in shares of CoreCivic in the third quarter valued at approximately $1,052,000. Finally, FMR LLC increased its holdings in shares of CoreCivic by 0.6% in the third quarter. FMR LLC now owns 8,597,388 shares of the real estate investment trust’s stock valued at $96,721,000 after purchasing an additional 53,395 shares during the last quarter. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

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.