CoreCivic (NYSE:CXW) Upgraded by Wall Street Zen to "Buy" Rating

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

CXW has been the subject of several other reports. Noble Financial upgraded CoreCivic from a "market perform" rating to an "outperform" rating in a report on Wednesday, February 12th. Wedbush restated an "outperform" rating and issued a $30.00 price objective on shares of CoreCivic in a report on Tuesday, February 11th.

CoreCivic Trading Up 1.5%

CXW traded up $0.33 during trading on Friday, reaching $22.44. The company had a trading volume of 957,613 shares, compared to its average volume of 1,157,821. The stock has a market cap of $2.45 billion, a P/E ratio of 36.79 and a beta of 0.79. The business has a 50 day simple moving average of $21.45 and a 200-day simple moving average of $21.03. CoreCivic has a 52 week low of $10.74 and a 52 week high of $24.99. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 0.65.

CoreCivic (NYSE:CXW - Get Free Report) last released its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.10. CoreCivic had a return on equity of 5.97% and a net margin of 3.51%. The business had revenue of $488.60 million during the quarter, compared to the consensus estimate of $478.49 million. During the same period last year, the company earned $0.46 earnings per share. The business's revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities analysts anticipate that CoreCivic will post 1.5 EPS for the current fiscal year.

Insider Activity at CoreCivic

In other CoreCivic news, EVP Anthony L. Grande sold 10,000 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $22.22, for a total value of $222,200.00. Following the completion of the transaction, the executive vice president now directly owns 180,559 shares in the company, valued at approximately $4,012,020.98. The trade was a 5.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lucibeth Mayberry sold 75,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $21.49, for a total transaction of $1,611,750.00. Following the completion of the transaction, the executive vice president now owns 211,232 shares of the company's stock, valued at $4,539,375.68. This represents a 26.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 180,246 shares of company stock worth $3,974,455 over the last three months. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CoreCivic

A number of large investors have recently added to or reduced their stakes in CXW. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of CoreCivic during the first quarter worth about $18,186,000. Millennium Management LLC grew its stake in shares of CoreCivic by 88.4% during the fourth quarter. Millennium Management LLC now owns 1,261,944 shares of the real estate investment trust's stock worth $27,435,000 after acquiring an additional 592,070 shares during the last quarter. Cooper Creek Partners Management LLC grew its stake in shares of CoreCivic by 9.9% during the fourth quarter. Cooper Creek Partners Management LLC now owns 6,127,227 shares of the real estate investment trust's stock worth $133,206,000 after acquiring an additional 553,336 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of CoreCivic during the fourth quarter worth about $11,733,000. Finally, Nuveen LLC purchased a new stake in CoreCivic in the first quarter valued at approximately $10,629,000. 85.13% of the stock is currently 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.