CoreCivic (NYSE:CXW) EVP Anthony L. Grande Sells 10,000 Shares

Key Points

• CoreCivic's EVP, Anthony Grande, sold 10,000 shares at an average price of $19.65, totaling $196,500, reducing his stake by 5.54% to 170,559 shares.
• The company's stock is currently trading at $20.34, below its 50-day moving average of $20.59, with a market cap of $2.18 billion.
• CoreCivic reported $0.59 earnings per share, exceeding expectations, and institutional investors have increased their stakes significantly, indicating a strong interest in the company.

CoreCivic, Inc. (NYSE:CXW - Get Free Report) EVP Anthony L. Grande sold 10,000 shares of the company's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $19.65, for a total value of $196,500.00. Following the completion of the transaction, the executive vice president directly owned 170,559 shares in the company, valued at approximately $3,351,484.35. This represents a 5.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

CoreCivic Stock Performance

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

CoreCivic (NYSE:CXW - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $538.17 million for the quarter, compared to analyst estimates of $499.02 million. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.The company's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS. On average, equities research analysts anticipate that CoreCivic, Inc. will post 1.5 EPS for the current year.

Institutional Trading of CoreCivic

Several institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. acquired a new position in CoreCivic in the 2nd quarter worth about $25,000. CWM LLC increased its holdings in CoreCivic by 80.1% in the 2nd quarter. CWM LLC now owns 2,186 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 972 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in CoreCivic by 33.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust's stock worth $59,000 after purchasing an additional 702 shares in the last quarter. Copia Wealth Management acquired a new position in CoreCivic in the 4th quarter worth about $82,000. Finally, GAMMA Investing LLC increased its holdings in CoreCivic by 10.0% in the 1st 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 in the last quarter. 85.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CXW. Wedbush reiterated an "outperform" rating and set a $38.00 target price on shares of CoreCivic in a research report on Wednesday, June 11th. Wall Street Zen upgraded CoreCivic from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, Jones Trading reiterated a "buy" rating and set a $30.00 target price on shares of CoreCivic in a research report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, CoreCivic presently has a consensus rating of "Buy" and a consensus 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.