Shares of CoreCivic, Inc. (NYSE:CXW - Get Free Report) hit a new 52-week high during trading on Tuesday after Wedbush raised their price target on the stock from $18.00 to $19.00. Wedbush currently has an outperform rating on the stock. CoreCivic traded as high as $16.24 and last traded at $16.11, with a volume of 21603 shares changing hands. The stock had previously closed at $16.09.
A number of other equities analysts have also weighed in on CXW. StockNews.com lowered shares of CoreCivic from a "buy" rating to a "hold" rating in a research report on Thursday, February 22nd. Northland Securities upped their price target on shares of CoreCivic from $17.00 to $19.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 26th.
Check Out Our Latest Stock Analysis on CXW
Insiders Place Their Bets
In related news, CEO Damon T. Hininger sold 50,525 shares of the company's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $14.62, for a total transaction of $738,675.50. Following the completion of the transaction, the chief executive officer now owns 820,262 shares in the company, valued at $11,992,230.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Anthony L. Grande sold 15,000 shares of the company's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $14.50, for a total transaction of $217,500.00. Following the completion of the transaction, the executive vice president now owns 186,692 shares in the company, valued at $2,707,034. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Damon T. Hininger sold 50,525 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $14.62, for a total transaction of $738,675.50. Following the transaction, the chief executive officer now owns 820,262 shares of the company's stock, valued at approximately $11,992,230.44. The disclosure for this sale can be found here. Company insiders own 2.21% of the company's stock.
Hedge Funds Weigh In On CoreCivic
Several institutional investors have recently bought and sold shares of CXW. Goldman Sachs Group Inc. lifted its position in CoreCivic by 1,050.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,138,544 shares of the real estate investment trust's stock valued at $45,603,000 after purchasing an additional 2,865,763 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of CoreCivic by 114.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,523,221 shares of the real estate investment trust's stock valued at $23,214,000 after acquiring an additional 1,349,325 shares during the period. No Street GP LP purchased a new stake in shares of CoreCivic in the fourth quarter valued at $14,530,000. Employees Retirement System of Texas purchased a new stake in shares of CoreCivic in the first quarter valued at $10,889,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of CoreCivic by 318.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,205,074 shares of the real estate investment trust's stock valued at $13,931,000 after acquiring an additional 917,105 shares during the period. Institutional investors own 85.13% of the company's stock.
CoreCivic Trading Down 0.7 %
The firm has a market cap of $1.78 billion, a PE ratio of 27.08 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 0.73. The company's 50 day moving average price is $14.91 and its two-hundred day moving average price is $13.89.
CoreCivic (NYSE:CXW - Get Free Report) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.17). CoreCivic had a net margin of 3.56% and a return on equity of 4.70%. The firm had revenue of $491.25 million during the quarter, compared to analysts' expectations of $489.62 million. As a group, sell-side analysts forecast that CoreCivic, Inc. will post 1.3 EPS for the current year.
CoreCivic Company Profile
(
Get Free Report)
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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