Insider Selling: Corrections Corp. of America (CXW) EVP Sells 5,000 Shares of Stock

Corrections Corp. of America (NYSE:CXW) EVP Kim White sold 5,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $26.27, for a total transaction of $131,350.00. Following the completion of the sale, the executive vice president now directly owns 22,393 shares in the company, valued at $588,264.11. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Corrections Corp. of America (NYSE CXW) opened at 24.59 on Friday. Corrections Corp. of America has a 52 week low of $12.99 and a 52 week high of $35.33. The company has a 50-day moving average of $27.26 and a 200-day moving average of $30.54. The company has a market cap of $2.91 billion, a PE ratio of 13.68 and a beta of 0.92.

Corrections Corp. of America (NYSE:CXW) last posted its earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.23. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. The company had revenue of $436.39 million for the quarter, compared to analyst estimates of $437.92 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, equities analysts expect that Corrections Corp. of America will post $1.53 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a $0.42 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.68 annualized dividend and a yield of 6.83%. Corrections Corp. of America’s dividend payout ratio (DPR) is presently 93.86%.

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A number of analysts have recently weighed in on CXW shares. Canaccord Genuity set a $36.00 target price on shares of Corrections Corp. of America and gave the stock a “buy” rating in a research report on Friday, May 19th. BidaskClub downgraded shares of Corrections Corp. of America from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Corrections Corp. of America from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Deutsche Bank AG upped their target price on shares of Corrections Corp. of America from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Finally, ValuEngine raised shares of Corrections Corp. of America from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Corrections Corp. of America presently has a consensus rating of “Buy” and a consensus target price of $30.00.

Large investors have recently modified their holdings of the company. TLP Group LLC acquired a new stake in shares of Corrections Corp. of America during the first quarter valued at $113,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Corrections Corp. of America during the first quarter valued at $116,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in shares of Corrections Corp. of America during the first quarter valued at $123,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Corrections Corp. of America during the first quarter valued at $126,000. Finally, Advisory Services Network LLC increased its stake in shares of Corrections Corp. of America by 115.0% in the second quarter. Advisory Services Network LLC now owns 4,093 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 2,189 shares in the last quarter. 88.79% of the stock is owned by institutional investors and hedge funds.

Corrections Corp. of America Company Profile

CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.

Insider Buying and Selling by Quarter for Corrections Corp. of America (NYSE:CXW)

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