Insider Selling: CoreCivic (NYSE:CXW) EVP Sells 12,500 Shares of Stock

Key Points

• CoreCivic Executive vice president Anthony Grande sold 12,500 shares of stock at an average price of $19.71, totaling $246,375, reducing his ownership by 7.33% to 158,059 shares.
• The company's stock price recently traded at $20.34, with a market cap of $2.18 billion and a PE ratio of 21.63.
• CoreCivic reported a quarterly earnings per share (EPS) of $0.59, beating analyst expectations of $0.43, along with a 9.8% year-over-year increase in revenue to $538.17 million.

CoreCivic, Inc. (NYSE:CXW - Get Free Report) EVP Anthony Grande sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $19.71, for a total transaction of $246,375.00. Following the completion of the transaction, the executive vice president owned 158,059 shares of the company's stock, valued at $3,115,342.89. This trade represents a 7.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

CoreCivic Price Performance

CoreCivic stock traded down $0.10 during midday trading on Wednesday, reaching $20.34. 831,587 shares of the stock were exchanged, compared to its average volume of 894,955. CoreCivic, Inc. has a 52 week low of $12.13 and a 52 week 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 firm has a market cap of $2.18 billion, a PE ratio of 21.63 and a beta of 0.81. The company's fifty day moving average is $20.59 and its 200-day moving average is $20.82.

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 net margin of 5.21% and a return on equity of 7.12%. The firm had revenue of $538.17 million during the quarter, compared to analyst estimates of $499.02 million. During the same period in the previous year, the business earned $0.42 EPS. The business's revenue for the quarter was up 9.8% on a year-over-year basis. On average, sell-side analysts forecast that CoreCivic, Inc. will post 1.5 EPS for the current year.

Hedge Funds Weigh In On CoreCivic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new stake in CoreCivic in the second quarter worth $25,000. CWM LLC lifted its holdings in shares of 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 acquiring an additional 972 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of CoreCivic by 33.0% during 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 during the period. Copia Wealth Management bought a new position in CoreCivic during the 4th quarter valued at about $82,000. Finally, GAMMA Investing LLC raised its position 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 during the period. 85.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CXW has been the topic of a number of research analyst reports. Wedbush reissued an "outperform" rating and issued a $38.00 target price on shares of CoreCivic in a research note on Wednesday, June 11th. Jones Trading reiterated a "buy" rating and set a $30.00 price objective on shares of CoreCivic in a research report on Thursday, August 7th. Finally, Wall Street Zen raised CoreCivic from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, CoreCivic currently 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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