Anthony L. Grande Sells 15,000 Shares of CoreCivic, Inc. (NYSE:CXW) Stock

CoreCivic, Inc. (NYSE:CXW) EVP Anthony L. Grande sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $15.51, for a total transaction of $232,650.00. Following the transaction, the executive vice president now directly owns 168,380 shares of the company’s stock, valued at $2,611,573.80. The sale was disclosed in a document filed with the SEC, which is available through this link.

CoreCivic Stock Performance

NYSE:CXW traded up $0.10 during mid-day trading on Wednesday, hitting $15.64. The stock had a trading volume of 793,780 shares, compared to its average volume of 859,796. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 28.11 and a beta of 0.81. The company has a 50 day simple moving average of $15.28 and a 200-day simple moving average of $14.63. CoreCivic, Inc. has a 52 week low of $8.27 and a 52 week high of $16.24. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.68.

CoreCivic (NYSE:CXW) last issued its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.12). The firm had revenue of $500.69 million during the quarter, compared to the consensus estimate of $477.93 million. CoreCivic had a net margin of 3.34% and a return on equity of 5.74%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 earnings per share. On average, research analysts expect that CoreCivic, Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on CXW shares. Wedbush reaffirmed an “outperform” rating and issued a $19.00 price target on shares of CoreCivic in a report on Thursday, May 9th. StockNews.com lowered shares of CoreCivic from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Finally, Northland Securities lifted their price target on shares of CoreCivic from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th.

Institutional Trading of CoreCivic

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its stake in shares of CoreCivic by 4.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 28,741 shares of the real estate investment trust’s stock worth $323,000 after purchasing an additional 1,121 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in CoreCivic by 49.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,534 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 6,805 shares in the last quarter. Versor Investments LP grew its position in CoreCivic by 66.5% during the third quarter. Versor Investments LP now owns 43,300 shares of the real estate investment trust’s stock valued at $487,000 after purchasing an additional 17,300 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in CoreCivic during the third quarter valued at approximately $744,000. Finally, abrdn plc grew its position in CoreCivic by 13.5% during the third quarter. abrdn plc now owns 672,200 shares of the real estate investment trust’s stock valued at $7,562,000 after purchasing an additional 80,200 shares in the last quarter. 85.13% of the stock is currently owned by institutional investors.

About CoreCivic

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.