CoreCivic (NYSE:CXW) Lowered to Hold at StockNews.com

CoreCivic (NYSE:CXW) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

Several other research firms have also recently weighed in on CXW. Wedbush increased 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 increased their target price on CoreCivic from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th.

CoreCivic Stock Performance

Shares of NYSE:CXW traded up $0.04 during midday trading on Monday, reaching $15.10. 591,013 shares of the company’s stock traded hands, compared to its average volume of 883,204. CoreCivic has a one year low of $7.84 and a one year high of $16.24. The stock has a 50 day moving average of $15.10 and a 200 day moving average of $14.28. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 25.59 and a beta of 0.81. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.60 and a current ratio of 1.60.

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

Insider Buying and Selling at CoreCivic

In related news, EVP Anthony L. Grande sold 15,000 shares of CoreCivic 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 transaction, the executive vice president now directly owns 186,692 shares in the company, valued at $2,707,034. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other CoreCivic news, CEO Damon T. Hininger sold 50,525 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were 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 in the company, valued at $11,992,230.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Anthony L. Grande sold 15,000 shares of the 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 sale, 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. 2.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Raymond James & Associates grew its stake in CoreCivic by 1.9% during the first quarter. Raymond James & Associates now owns 516,206 shares of the real estate investment trust’s stock valued at $8,058,000 after acquiring an additional 9,411 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of CoreCivic in the first quarter valued at $87,000. Versant Capital Management Inc raised its stake in CoreCivic by 15.7% during the first quarter. Versant Capital Management Inc now owns 94,352 shares of the real estate investment trust’s stock valued at $1,473,000 after purchasing an additional 12,784 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in CoreCivic by 1,050.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,138,544 shares of the real estate investment trust’s stock valued at $45,603,000 after purchasing an additional 2,865,763 shares in the last quarter. Finally, Quantedge Capital Pte Ltd lifted its position in CoreCivic by 85.6% during the fourth quarter. Quantedge Capital Pte Ltd now owns 235,300 shares of the real estate investment trust’s stock valued at $3,419,000 after purchasing an additional 108,500 shares during the last quarter. Hedge funds and other 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.