CoreCivic (NYSE:CXW) Shares Gap Up - Here's Why

CoreCivic, Inc. (NYSE:CXW - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $21.68, but opened at $22.70. CoreCivic shares last traded at $22.78, with a volume of 310,085 shares traded.

Analyst Ratings Changes

Several analysts have recently commented on CXW shares. Wedbush reaffirmed an "outperform" rating and issued a $38.00 target price on shares of CoreCivic in a research report on Wednesday, June 11th. Wall Street Zen cut CoreCivic from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th.

CoreCivic Trading Down 0.4%

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.55 and a quick ratio of 1.55. The company has a fifty day moving average of $21.69 and a 200-day moving average of $20.95. The firm has a market capitalization of $2.42 billion, a PE ratio of 29.21 and a beta of 0.77.

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

Insider Buying and Selling at CoreCivic

In other CoreCivic news, EVP Anthony L. Grande sold 10,000 shares of the firm's 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 transaction, the executive vice president directly owned 180,559 shares in the company, valued at $4,012,020.98. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Damon T. Hininger sold 72,246 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 879,324 shares in the company, valued at approximately $19,784,790. This trade represents a 7.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,246 shares of company stock valued at $4,061,215 in the last quarter. Corporate insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On CoreCivic

Institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. bought a new position in CoreCivic during the fourth quarter valued at about $43,000. Copia Wealth Management bought a new position in shares of CoreCivic in the fourth quarter worth about $82,000. Russell Investments Group Ltd. increased its stake in shares of CoreCivic by 86,300.0% in the fourth quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust's stock worth $94,000 after purchasing an additional 4,315 shares during the period. GAMMA Investing LLC increased its stake 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 worth $105,000 after purchasing an additional 470 shares during the period. Finally, Harbour Investments Inc. increased its stake in shares of CoreCivic by 215.6% in the first quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust's stock worth $108,000 after purchasing an additional 3,646 shares during the period. 85.13% of the stock is currently 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.