Wall Street Zen Downgrades CoreCivic (NYSE:CXW) to Hold

Wall Street Zen lowered shares of CoreCivic (NYSE:CXW - Free Report) from a buy rating to a hold rating in a research note issued to investors on Sunday morning.

A number of other research firms also recently weighed in on CXW. Wedbush reaffirmed an "outperform" rating and set a $30.00 price objective on shares of CoreCivic in a report on Tuesday, February 11th. Noble Financial upgraded shares of CoreCivic from a "market perform" rating to an "outperform" rating in a report on Wednesday, February 12th.

CoreCivic Stock Performance

Shares of NYSE CXW traded down $0.23 during midday trading on Friday, hitting $21.72. The company's stock had a trading volume of 42,843 shares, compared to its average volume of 1,156,518. The firm has a market cap of $2.37 billion, a P/E ratio of 35.67 and a beta of 0.79. CoreCivic has a 1-year low of $10.74 and a 1-year high of $24.99. The firm's fifty day moving average price is $21.65 and its 200-day moving average price is $21.03. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.51 and a current ratio of 1.57.

CoreCivic (NYSE:CXW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.10. CoreCivic had a net margin of 3.51% and a return on equity of 5.97%. The firm had revenue of $488.60 million during the quarter, compared to analyst estimates of $478.49 million. During the same quarter in the prior year, the firm posted $0.46 EPS. CoreCivic's revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts forecast that CoreCivic will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Damon T. Hininger sold 72,246 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $22.50, for a total value of $1,625,535.00. Following the completion of the transaction, the chief executive officer now owns 879,324 shares in the company, valued at $19,784,790. The trade was a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stacia Hylton sold 4,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $21.69, for a total transaction of $86,760.00. Following the completion of the sale, the director now directly owns 82,969 shares of the company's stock, valued at $1,799,597.61. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,246 shares of company stock valued at $4,061,215. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On CoreCivic

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in shares of CoreCivic by 10.0% in the first quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock valued at $105,000 after purchasing an additional 470 shares during the period. Bank of Montreal Can lifted 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 acquiring an additional 944 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 valued at $1,348,000 after purchasing an additional 1,322 shares in the last quarter. State of Wyoming lifted its stake in 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 in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in 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 purchasing an additional 1,859 shares during the last quarter. 85.13% of the stock is owned by 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.