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

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Noble Financial raised CoreCivic from a “market perform” rating to an “outperform” rating in a report on Wednesday. Wedbush reiterated an “outperform” rating and set a $30.00 price target on shares of CoreCivic in a report on Tuesday. Finally, Northland Securities lifted their price target 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.

CoreCivic Stock Up 7.3 %

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 firm has a market capitalization of $2.13 billion, a P/E ratio of 28.88 and a beta of 1.00. The business has a 50 day moving average price of $21.35 and a 200 day moving average price of $17.28.

CoreCivic (NYSE:CXW) last released its earnings results on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. CoreCivic had a return on equity of 6.55% and a net margin of 3.85%. On average, analysts predict that CoreCivic, Inc. will post 1.64 earnings per share for the current year.

Insider Activity at CoreCivic

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

Hedge Funds Weigh In On CoreCivic

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in CoreCivic by 25.5% during the fourth quarter. GAMMA Investing LLC now owns 4,686 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 953 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of CoreCivic by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,424 shares of the real estate investment trust’s stock worth $745,000 after purchasing an additional 1,401 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of CoreCivic by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 57,312 shares of the real estate investment trust’s stock worth $1,246,000 after purchasing an additional 1,450 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in CoreCivic by 318.9% during the 4th 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 during the last quarter. Finally, HighTower Advisors LLC boosted its position in CoreCivic by 13.7% in the third quarter. HighTower Advisors LLC now owns 15,549 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 1,877 shares in the last quarter. Institutional investors 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.