CoreCivic (NYSE:CXW) Downgraded by Wall Street Zen to Hold

CoreCivic (NYSE:CXW - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Separately, Wedbush reissued an "outperform" rating and issued a $38.00 target price on shares of CoreCivic in a research note on Wednesday, June 11th.

CoreCivic Price Performance

Shares of NYSE:CXW opened at $21.37 on Friday. The firm has a market capitalization of $2.33 billion, a PE ratio of 28.12 and a beta of 0.77. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.66. CoreCivic has a 1-year low of $11.82 and a 1-year high of $24.99. The business's 50 day moving average is $21.71 and its 200-day moving average is $20.92.

CoreCivic (NYSE:CXW - Get Free Report) last issued its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 EPS for the quarter, topping the consensus estimate of $0.35 by $0.10. The firm had revenue of $488.60 million during the quarter, compared to analysts' expectations of $478.49 million. CoreCivic had a return on equity of 5.75% and a net margin of 4.33%. CoreCivic's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.46 earnings per share. Sell-side analysts predict that CoreCivic will post 1.5 earnings per share for the current year.

Insiders Place Their Bets

In other CoreCivic news, COO Patrick D. Swindle sold 23,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $22.39, for a total transaction of $514,970.00. Following the completion of the transaction, the chief operating officer directly owned 241,630 shares in the company, valued at $5,410,095.70. This represents a 8.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lucibeth Mayberry sold 75,000 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $21.49, for a total transaction of $1,611,750.00. Following the completion of the sale, the executive vice president owned 211,232 shares in the company, valued at $4,539,375.68. This represents a 26.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,246 shares of company stock worth $4,061,215 over the last quarter. Corporate insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On CoreCivic

Several institutional investors have recently added to or reduced their stakes in CXW. Woodmont Investment Counsel LLC acquired a new stake in shares of CoreCivic during the first quarter worth approximately $514,000. Wedge Capital Management L L P NC grew its position in CoreCivic by 29.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 79,527 shares of the real estate investment trust's stock worth $1,614,000 after acquiring an additional 18,036 shares during the last quarter. Nebula Research & Development LLC bought a new stake in CoreCivic during the 4th quarter worth approximately $361,000. Teacher Retirement System of Texas acquired a new stake in CoreCivic during the 4th quarter valued at $4,582,000. Finally, State of Tennessee Department of Treasury raised its position in CoreCivic by 65.5% in the 4th quarter. State of Tennessee Department of Treasury now owns 48,999 shares of the real estate investment trust's stock valued at $1,065,000 after purchasing an additional 19,391 shares during the last quarter. 85.13% of the stock is owned by institutional investors.

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.

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