CoreCivic (NYSE:CXW) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of CoreCivic (NYSE:CXW - Free Report) from a buy rating to a hold rating in a report issued on Saturday morning.

Separately, Wedbush restated an "outperform" rating and set a $38.00 price objective on shares of CoreCivic in a report on Wednesday, June 11th.

CoreCivic Stock Down 2.0%

Shares of NYSE CXW traded down $0.44 during trading hours on Friday, hitting $22.09. 1,211,962 shares of the stock were exchanged, compared to its average volume of 1,127,138. CoreCivic has a 12 month low of $11.82 and a 12 month high of $24.99. The firm has a fifty day moving average price of $21.70 and a 200-day moving average price of $20.94. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.66. The company has a market cap of $2.41 billion, a PE ratio of 29.07 and a beta of 0.77.

CoreCivic (NYSE:CXW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.45 EPS for the quarter, beating the consensus estimate of $0.35 by $0.10. The firm had revenue of $488.60 million during the quarter, compared to analyst estimates of $478.49 million. CoreCivic had a return on equity of 5.75% and a net margin of 4.33%. The business's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. On average, sell-side analysts expect that CoreCivic will post 1.5 EPS for the current year.

Insider Buying and Selling

In related news, EVP Anthony L. Grande sold 10,000 shares of CoreCivic stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $22.22, for a total transaction of $222,200.00. Following the completion of the sale, the executive vice president owned 180,559 shares of the company's stock, valued at $4,012,020.98. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Damon T. Hininger sold 72,246 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $22.50, for a total value of $1,625,535.00. Following the completion of the sale, the chief executive officer owned 879,324 shares in the company, valued at approximately $19,784,790. This represents a 7.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,246 shares of company stock worth $4,061,215 over the last three months. Corporate insiders own 2.30% of the company's stock.

Institutional Trading of CoreCivic

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of CoreCivic by 10.0% during the first quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock worth $105,000 after purchasing an additional 470 shares during the last quarter. Bank of Montreal Can grew its position in CoreCivic by 8.0% during the 4th quarter. Bank of Montreal Can now owns 12,742 shares of the real estate investment trust's stock worth $277,000 after purchasing an additional 944 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of CoreCivic by 2.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,000 shares of the real estate investment trust's stock valued at $1,348,000 after buying an additional 1,322 shares during the last quarter. State of Wyoming lifted its holdings in shares of CoreCivic by 7.5% in the 4th quarter. State of Wyoming now owns 20,796 shares of the real estate investment trust's stock valued at $452,000 after buying an additional 1,443 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of CoreCivic by 318.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 1,859 shares during the period. 85.13% of the stock is owned by hedge funds and other institutional investors.

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.