Insider Selling: CoreCivic (NYSE:CXW) Director Sells 6,000 Shares of Stock

Key Points

• CoreCivic Director Thurgood Marshall, Jr. sold 6,000 shares of the company's stock at an average price of $20.52, totaling $123,120, which marks an 11.99% decrease in his position.
• The stock price of CoreCivic decreased by 0.5% to $20.34, with a market capitalization of $2.18 billion and a price-to-earnings ratio of 21.63.
• Analysts maintain a consensus rating of "Buy" for CoreCivic, with price targets ranging from $30.00 to $38.00 from different brokerages.

CoreCivic, Inc. (NYSE:CXW - Get Free Report) Director Thurgood Marshall, Jr. sold 6,000 shares of CoreCivic stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $20.52, for a total value of $123,120.00. Following the transaction, the director owned 44,023 shares of the company's stock, valued at $903,351.96. This trade represents a 11.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

CoreCivic Stock Down 0.5%

Shares of CoreCivic stock traded down $0.10 on Wednesday, hitting $20.34. The company had a trading volume of 831,587 shares, compared to its average volume of 894,955. CoreCivic, Inc. has a 1 year low of $12.13 and a 1 year high of $24.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a 50 day moving average of $20.59 and a 200-day moving average of $20.82. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 21.63 and a beta of 0.81.

CoreCivic (NYSE:CXW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.16. The company had revenue of $538.17 million for the quarter, compared to analysts' expectations of $499.02 million. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.CoreCivic's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, sell-side analysts forecast that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in CoreCivic by 2.2% during the first quarter. Vanguard Group Inc. now owns 12,215,492 shares of the real estate investment trust's stock worth $247,852,000 after purchasing an additional 267,198 shares during the period. Allianz Asset Management GmbH raised its position in shares of CoreCivic by 0.5% in the second 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 purchasing an additional 8,683 shares during the period. Millennium Management LLC lifted its stake in shares of CoreCivic by 88.4% during the 4th quarter. Millennium Management LLC now owns 1,261,944 shares of the real estate investment trust's stock valued at $27,435,000 after buying an additional 592,070 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in CoreCivic by 361.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust's stock worth $26,562,000 after buying an additional 987,375 shares during the period. Finally, Wellington Management Group LLP grew its stake in CoreCivic by 35.4% in 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. 85.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CXW. Wall Street Zen upgraded 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 issued a $30.00 price objective on shares of CoreCivic in a research report on Thursday, August 7th. Finally, Wedbush reiterated an "outperform" rating and issued a $38.00 price objective on shares of CoreCivic in a research note on Wednesday, June 11th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $33.33.

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.

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