CoreCivic (NYSE:CXW) Downgraded by StockNews.com

CoreCivic (NYSE:CXW) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Other equities analysts have also recently issued reports about the company. Northland Securities increased their price target on CoreCivic from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Wedbush increased their target price on shares of CoreCivic from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th.

CoreCivic Trading Up 0.3 %

NYSE:CXW traded up $0.04 on Monday, hitting $15.10. The stock had a trading volume of 591,013 shares, compared to its average volume of 883,204. The company has a fifty day moving average price of $15.10 and a two-hundred day moving average price of $14.28. CoreCivic has a 1-year low of $7.84 and a 1-year high of $16.24. 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 stock has a market cap of $1.69 billion, a price-to-earnings ratio of 25.59 and a beta of 0.81.

CoreCivic (NYSE:CXW) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.17). The firm had revenue of $491.25 million for the quarter, compared to analysts’ expectations of $489.62 million. CoreCivic had a net margin of 3.56% and a return on equity of 4.70%. Equities research analysts expect that CoreCivic will post 1.31 earnings per share for the current fiscal year.

Insider Buying and Selling at CoreCivic

In other news, EVP Anthony L. Grande sold 15,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was 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 directly owns 186,692 shares in the company, valued at $2,707,034. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other CoreCivic news, CEO Damon T. Hininger sold 50,525 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $14.62, for a total value of $738,675.50. Following the completion of the transaction, the chief executive officer now owns 820,262 shares of the company’s stock, valued at approximately $11,992,230.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Anthony L. Grande sold 15,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $14.50, for a total value of $217,500.00. Following the sale, the executive vice president now directly owns 186,692 shares in the company, valued at approximately $2,707,034. The disclosure for this sale can be found here. 2.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CXW. Raymond James & Associates increased its holdings in CoreCivic by 1.9% during the 1st quarter. Raymond James & Associates now owns 516,206 shares of the real estate investment trust’s stock worth $8,058,000 after purchasing an additional 9,411 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of CoreCivic during the first quarter worth about $87,000. Versant Capital Management Inc increased its stake in shares of CoreCivic by 15.7% during the first quarter. Versant Capital Management Inc now owns 94,352 shares of the real estate investment trust’s stock worth $1,473,000 after buying an additional 12,784 shares during the period. Goldman Sachs Group Inc. raised its holdings in CoreCivic by 1,050.6% in 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 acquiring an additional 2,865,763 shares in the last quarter. Finally, Quantedge Capital Pte Ltd raised its holdings in CoreCivic by 85.6% in the fourth quarter. Quantedge Capital Pte Ltd now owns 235,300 shares of the real estate investment trust’s stock valued at $3,419,000 after acquiring an additional 108,500 shares in the last quarter. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

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.