CoreCivic, Inc. (NYSE:CXW) Short Interest Update

Key Points

• CoreCivic’s short interest fell sharply in June, dropping 35.4% to 1,812,744 shares as of June 30. That represents about 1.9% of shares shorted and a short-interest ratio of just 1.0 days.
• The stock edged lower on the day, trading down 1.2% to $30.29. CoreCivic has a market cap of about $3.0 billion and has traded between $15.73 and $32.60 over the past 12 months.
• Analyst sentiment remains positive, with recent price targets ranging from $35 to $41 and a consensus rating of “Buy.” Several firms have also increased or initiated positions in the company, while institutional investors own 85.13% of the stock.

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

Hedge Funds Weigh In On CoreCivic

Several large investors have recently modified their holdings of CXW. NBC Securities Inc. raised its holdings in CoreCivic by 533.9% during the 4th quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 1,228 shares during the period. Smartleaf Asset Management LLC boosted its stake in CoreCivic by 33.0% during the second quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust's stock worth $59,000 after buying an additional 702 shares during the period. Leonteq Securities AG bought a new position in CoreCivic during the fourth quarter valued at $57,000. Fifth Third Bancorp raised its stake in shares of CoreCivic by 320.7% in the fourth quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust's stock valued at $64,000 after acquiring an additional 2,546 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in shares of CoreCivic in the fourth quarter valued at $71,000. Institutional investors own 85.13% of the company's stock.

CoreCivic Trading Down 1.2%

CXW traded down $0.36 on Friday, hitting $30.29. The company had a trading volume of 298,571 shares, compared to its average volume of 1,166,145. The business's fifty day simple moving average is $25.98 and its 200 day simple moving average is $21.63. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.99. CoreCivic has a 12-month low of $15.73 and a 12-month high of $32.60. The company has a market cap of $3.00 billion, a PE ratio of 24.65 and a beta of 0.57.

Analyst Upgrades and Downgrades

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.