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 on Tuesday, September 9th. The shares were sold at an average price of $20.52, for a total value of $123,120.00. Following the sale, the director directly owned 44,023 shares of the company's stock, valued at $903,351.96. This represents a 11.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

CoreCivic Trading Down 0.7%

Shares of NYSE CXW traded down $0.15 during midday trading on Monday, reaching $20.95. The company had a trading volume of 1,024,380 shares, compared to its average volume of 912,002. The firm's fifty day moving average price is $20.55 and its 200-day moving average price is $20.91. The stock has a market cap of $2.24 billion, a PE ratio of 22.29 and a beta of 0.81. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.68. CoreCivic, Inc. has a one year low of $12.24 and a one year high of $24.99.

CoreCivic (NYSE:CXW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.16. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.The business had revenue of $538.17 million during the quarter, compared to analyst estimates of $499.02 million. During the same quarter in the prior year, the company posted $0.42 EPS. CoreCivic's quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

Wall Street Analyst Weigh In

CXW has been the topic of several recent research reports. Wall Street Zen upgraded CoreCivic from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Wedbush restated an "outperform" rating and issued a $38.00 price target on shares of CoreCivic in a research note on Wednesday, June 11th. Finally, Jones Trading restated a "buy" rating and issued a $30.00 price target on shares of CoreCivic in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $33.33.

Institutional Trading of CoreCivic

Several institutional investors have recently added to or reduced their stakes in CXW. The Manufacturers Life Insurance Company boosted its stake in CoreCivic by 4.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 58,563 shares of the real estate investment trust's stock valued at $1,273,000 after purchasing an additional 2,420 shares during the last quarter. Bank of America Corp DE boosted its stake in CoreCivic by 5.3% during the 4th quarter. Bank of America Corp DE now owns 144,807 shares of the real estate investment trust's stock valued at $3,148,000 after purchasing an additional 7,242 shares during the last quarter. Graham Capital Management L.P. lifted its holdings in shares of CoreCivic by 74.6% during the 4th quarter. Graham Capital Management L.P. now owns 38,507 shares of the real estate investment trust's stock valued at $837,000 after buying an additional 16,458 shares during the period. Janus Henderson Group PLC boosted its stake in shares of CoreCivic by 476.2% in the 4th quarter. Janus Henderson Group PLC now owns 299,706 shares of the real estate investment trust's stock worth $6,516,000 after buying an additional 247,690 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of CoreCivic by 2.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,000 shares of the real estate investment trust's stock worth $1,348,000 after buying an additional 1,322 shares during the last quarter. 85.13% of the stock is currently owned by hedge funds and other 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.