Corecivic (NYSE:CXW) Trading Down 5.9%

Corecivic Inc (NYSE:CXW)’s stock price was down 5.9% on Tuesday . The company traded as low as $15.80 and last traded at $15.85, approximately 1,501,062 shares were traded during mid-day trading. An increase of 46% from the average daily volume of 1,027,023 shares. The stock had previously closed at $16.84.

The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.40. The company’s 50 day moving average is $16.45 and its 200-day moving average is $16.46. The company has a market capitalization of $1.95 billion, a P/E ratio of 10.03 and a beta of 1.11.

Corecivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.35 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.27). Corecivic had a return on equity of 13.68% and a net margin of 9.54%. The business had revenue of $497.81 million for the quarter. Analysts predict that Corecivic Inc will post 2.31 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.44 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.76 annualized dividend and a dividend yield of 11.10%. Corecivic’s payout ratio is 67.18%.

Several hedge funds have recently added to or reduced their stakes in CXW. Bank of New York Mellon Corp grew its stake in shares of Corecivic by 26.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,928,729 shares of the real estate investment trust’s stock worth $50,901,000 after buying an additional 620,202 shares during the last quarter. Millennium Management LLC boosted its holdings in Corecivic by 710.5% in the third quarter. Millennium Management LLC now owns 693,367 shares of the real estate investment trust’s stock worth $11,981,000 after acquiring an additional 607,824 shares in the last quarter. Marshall Wace LLP bought a new stake in Corecivic in the fourth quarter worth $5,291,000. Renaissance Technologies LLC increased its holdings in shares of Corecivic by 4.3% during the fourth quarter. Renaissance Technologies LLC now owns 5,264,371 shares of the real estate investment trust’s stock valued at $91,495,000 after acquiring an additional 217,468 shares in the last quarter. Finally, Greenwich Investment Management Inc. bought a new position in shares of Corecivic during the fourth quarter valued at $3,746,000. Hedge funds and other institutional investors own 78.22% of the company’s stock.

About Corecivic (NYSE:CXW)

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.

Further Reading: Cash Flow

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