CoreCivic (NYSE:CXW – Get Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.
Several other equities analysts have also recently weighed in on CXW. Northland Securities began coverage on CoreCivic in a report on Thursday, October 19th. They set an “outperform” rating and a $16.00 price target for the company. Wedbush raised their target price on shares of CoreCivic from $14.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, November 8th.
CoreCivic Stock Down 1.2 %
NYSE CXW opened at $14.50 on Friday. CoreCivic has a 52 week low of $7.84 and a 52 week high of $15.12. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $1.65 billion, a P/E ratio of 25.43 and a beta of 0.81. The stock’s 50-day moving average price is $14.25 and its 200-day moving average price is $12.27.
CoreCivic (NYSE:CXW – Get Free Report) last released its earnings results on Monday, November 6th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.20). CoreCivic had a return on equity of 4.64% and a net margin of 3.49%. The business had revenue of $483.71 million for the quarter, compared to analysts’ expectations of $474.75 million. On average, equities research analysts predict that CoreCivic will post 1.42 earnings per share for the current year.
Insider Buying and Selling at CoreCivic
In related news, EVP Cole G. Carter sold 39,345 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $13.53, for a total transaction of $532,337.85. Following the sale, the executive vice president now owns 181,817 shares in the company, valued at approximately $2,459,984.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.89% of the company’s stock.
Hedge Funds Weigh In On CoreCivic
A number of large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of CoreCivic by 114.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,523,221 shares of the real estate investment trust’s stock worth $23,214,000 after buying an additional 1,349,325 shares during the period. Employees Retirement System of Texas purchased a new stake in CoreCivic in the first quarter worth $10,889,000. Arrowstreet Capital Limited Partnership increased its stake in CoreCivic by 318.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,205,074 shares of the real estate investment trust’s stock worth $13,931,000 after purchasing an additional 917,105 shares during the period. Cooper Creek Partners Management LLC lifted its position in shares of CoreCivic by 24.2% during the third quarter. Cooper Creek Partners Management LLC now owns 3,297,002 shares of the real estate investment trust’s stock worth $37,091,000 after purchasing an additional 641,576 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of CoreCivic by 92.4% during the fourth quarter. Millennium Management LLC now owns 1,082,662 shares of the real estate investment trust’s stock valued at $12,516,000 after purchasing an additional 520,043 shares during the period. 80.89% of the stock is 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.