CoreCivic (NYSE:CXW) Given "Hold (C+)" Rating at Weiss Ratings

Key Points

• CoreCivic (NYSE:CXW) has been assigned a "hold (C+)" rating by Weiss Ratings, while other analysts have varied opinions, with four categorizing it as a "buy."
• The company recently reported quarterly earnings beating expectations, with an EPS of $0.59 compared to the consensus estimate of $0.43, and a revenue increase of 9.8% year-over-year.
• Insider trading activity revealed that executives sold a total of 51,000 shares, which might indicate potential concerns about the company's future performance despite strong earnings.

CoreCivic (NYSE:CXW - Get Free Report)'s stock had its "hold (c+)" rating reissued by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other analysts also recently issued reports on CXW. Wall Street Zen raised shares of CoreCivic from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Jones Trading reaffirmed a "buy" rating and set a $30.00 price target on shares of CoreCivic in a report on Thursday, August 7th. Finally, Wedbush reaffirmed an "outperform" rating and set a $38.00 price target on shares of CoreCivic in a report on Wednesday, June 11th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $33.33.

CoreCivic Stock Down 1.0%

CXW stock traded down $0.18 during trading on Wednesday, hitting $18.75. 1,127,964 shares of the stock traded hands, compared to its average volume of 999,614. CoreCivic has a 1 year low of $12.45 and a 1 year high of $24.99. The firm's 50 day moving average is $20.40 and its two-hundred day moving average is $21.01. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 19.95 and a beta of 0.75. 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 EPS for the quarter, beating the consensus estimate of $0.43 by $0.16. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The company had revenue of $538.17 million for the quarter, compared to the consensus estimate of $499.02 million. During the same period in the prior year, the firm posted $0.42 EPS. CoreCivic's revenue for the quarter was up 9.8% on a year-over-year basis. On average, sell-side analysts anticipate that CoreCivic will post 1.5 EPS for the current year.

Insider Activity at CoreCivic

In other CoreCivic news, EVP Anthony L. Grande sold 22,500 shares of the firm's 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 sale, the executive vice president owned 135,559 shares in the company, valued at approximately $2,871,139.62. This trade represents a 14.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thurgood Marshall, Jr. sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $20.52, for a total transaction of $123,120.00. Following the sale, the director owned 44,023 shares in the company, valued at approximately $903,351.96. The trade was a 11.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,000 shares of company stock worth $1,042,545 in the last quarter. Company insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On CoreCivic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in CoreCivic by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 12,215,492 shares of the real estate investment trust's stock worth $247,852,000 after acquiring an additional 267,198 shares during the period. Allianz Asset Management GmbH grew its holdings in CoreCivic by 0.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,631,483 shares of the real estate investment trust's stock valued at $34,375,000 after buying an additional 8,683 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in CoreCivic by 361.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust's stock valued at $26,562,000 after buying an additional 987,375 shares in the last quarter. Wellington Management Group LLP grew its holdings in CoreCivic by 35.4% during the 1st quarter. Wellington Management Group LLP now owns 1,073,573 shares of the real estate investment trust's stock valued at $21,783,000 after buying an additional 280,495 shares in the last quarter. Finally, Invenomic Capital Management LP grew its holdings in CoreCivic by 99.5% during the 1st quarter. Invenomic Capital Management LP now owns 907,390 shares of the real estate investment trust's stock valued at $18,411,000 after buying an additional 452,559 shares in the last quarter. Institutional investors own 85.13% of the company's stock.

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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