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CoreCivic, Inc. (NYSE:CXW – Get Free Report) EVP Anthony Grande sold 22,500 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $21.18, for a total transaction of $476,550.00. Following the completion of the sale, the executive vice president owned 135,559 shares in the company, valued at $2,871,139.62. This represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
CoreCivic Stock Down 1.5%
CXW stock opened at $21.09 on Friday. The company’s 50 day simple moving average is $20.58 and its 200-day simple moving average is $20.86. The firm has a market capitalization of $2.26 billion, a PE ratio of 22.44 and a beta of 0.81. CoreCivic, Inc. has a 12 month low of $12.24 and a 12 month high of $24.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60.
CoreCivic (NYSE:CXW – Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.16. The business had revenue of $538.17 million for the quarter, compared to the consensus estimate of $499.02 million. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Equities analysts expect that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.
Hedge Funds Weigh In On CoreCivic
A number of large investors have recently bought and sold shares of CXW. Bank of America Corp DE raised its stake in CoreCivic by 5.3% during the fourth quarter. Bank of America Corp DE now owns 144,807 shares of the real estate investment trust’s stock worth $3,148,000 after purchasing an additional 7,242 shares during the period. Janus Henderson Group PLC raised its stake in CoreCivic by 476.2% during the fourth quarter. Janus Henderson Group PLC now owns 299,706 shares of the real estate investment trust’s stock worth $6,516,000 after purchasing an additional 247,690 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in CoreCivic by 2.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,000 shares of the real estate investment trust’s stock worth $1,348,000 after purchasing an additional 1,322 shares during the period. Millennium Management LLC increased its position in shares of CoreCivic by 88.4% in the fourth quarter. Millennium Management LLC now owns 1,261,944 shares of the real estate investment trust’s stock worth $27,435,000 after acquiring an additional 592,070 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of CoreCivic by 15.5% in the fourth quarter. Nuveen Asset Management LLC now owns 354,562 shares of the real estate investment trust’s stock worth $7,708,000 after acquiring an additional 47,456 shares in the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on CXW. Wedbush reissued an “outperform” rating and set a $38.00 price objective on shares of CoreCivic in a research note on Wednesday, June 11th. Jones Trading reissued a “buy” rating and set a $30.00 price objective on shares of CoreCivic in a research note on Thursday, August 7th. Finally, Wall Street Zen raised shares of CoreCivic from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $33.33.
Check Out Our Latest Analysis on CoreCivic
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.
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