CoreCivic, Inc. (NYSE:CXW) Short Interest Down 35.4% in June

CoreCivic, Inc. (NYSE:CXW) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 1,812,744 shares, a drop of 35.4% from the June 15th total of 2,807,302 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,727,773 shares, the days-to-cover ratio is currently 1.0 days.

CoreCivic Stock Performance

NYSE:CXW opened at $30.63 on Friday. The company has a market cap of $3.03 billion, a P/E ratio of 24.90 and a beta of 0.57. CoreCivic has a twelve month low of $15.73 and a twelve month high of $32.60. The company’s 50-day moving average price is $26.18 and its 200-day moving average price is $21.70. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.99.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of CoreCivic by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust’s stock valued at $242,955,000 after purchasing an additional 138,846 shares during the last quarter. River Road Asset Management LLC boosted its stake in CoreCivic by 3.3% during the fourth quarter. River Road Asset Management LLC now owns 8,978,240 shares of the real estate investment trust’s stock worth $171,574,000 after buying an additional 287,108 shares during the last quarter. Lee Danner & Bass Inc. boosted its stake in CoreCivic by 273.1% during the first quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust’s stock worth $41,101,000 after buying an additional 1,590,940 shares during the last quarter. Rubric Capital Management LP boosted its stake in CoreCivic by 5.0% during the first quarter. Rubric Capital Management LP now owns 2,059,216 shares of the real estate investment trust’s stock worth $38,940,000 after buying an additional 97,770 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in CoreCivic by 361.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust’s stock valued at $26,562,000 after buying an additional 987,375 shares in the last quarter. 85.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Northland Securities set a $40.00 price objective on shares of CoreCivic in a research report on Friday, June 26th. Wall Street Zen cut CoreCivic from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Benchmark lifted their price target on CoreCivic from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Weiss Ratings raised CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Finally, UBS Group set a $35.00 price target on CoreCivic in a research report on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, CoreCivic has an average rating of “Buy” and an average price target of $36.20.

About CoreCivic

CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.