CoreCivic (NYSE:CXW) Sets New 52-Week High – Here’s What Happened

CoreCivic, Inc. (NYSE:CXW) hit a new 52-week high during trading on Wednesday . The stock traded as high as $18.01 and last traded at $17.45, with a volume of 662744 shares. The stock had previously closed at $13.63.

Analyst Ratings Changes

Separately, Wedbush reiterated a “neutral” rating and set a $14.00 price target on shares of CoreCivic in a report on Friday, September 13th.

CoreCivic Price Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.44 and a current ratio of 1.44. The business has a 50-day simple moving average of $13.51 and a 200 day simple moving average of $13.79. The firm has a market cap of $2.43 billion, a P/E ratio of 36.80 and a beta of 0.86.

CoreCivic (NYSE:CXW) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.20). The business had revenue of $490.11 million for the quarter, compared to the consensus estimate of $481.87 million. CoreCivic had a net margin of 3.50% and a return on equity of 6.10%. CoreCivic’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 EPS. On average, analysts anticipate that CoreCivic, Inc. will post 1.51 earnings per share for the current fiscal year.

Insider Transactions at CoreCivic

In related news, EVP Cole G. Carter sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $12.58, for a total transaction of $100,640.00. Following the transaction, the executive vice president now owns 207,847 shares in the company, valued at $2,614,715.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CoreCivic news, COO Patrick D. Swindle sold 15,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $12.40, for a total value of $186,000.00. Following the completion of the transaction, the chief operating officer now owns 203,504 shares in the company, valued at approximately $2,523,449.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Cole G. Carter sold 8,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $12.58, for a total transaction of $100,640.00. Following the sale, the executive vice president now owns 207,847 shares in the company, valued at approximately $2,614,715.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 169,996 shares of company stock valued at $2,177,640. Company insiders own 2.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CXW. BNP Paribas Financial Markets grew its holdings in CoreCivic by 159.3% in the first quarter. BNP Paribas Financial Markets now owns 115,555 shares of the real estate investment trust’s stock worth $1,804,000 after purchasing an additional 70,999 shares during the period. River Road Asset Management LLC grew its stake in shares of CoreCivic by 0.5% in the 3rd quarter. River Road Asset Management LLC now owns 8,611,640 shares of the real estate investment trust’s stock worth $108,937,000 after buying an additional 40,365 shares during the last quarter. Nisa Investment Advisors LLC increased its position in CoreCivic by 85.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 400,896 shares of the real estate investment trust’s stock valued at $5,204,000 after buying an additional 185,075 shares in the last quarter. Resolute Capital Asset Partners LLC purchased a new position in CoreCivic during the second quarter valued at $649,000. Finally, Dimensional Fund Advisors LP bought a new stake in CoreCivic in the second quarter worth $1,115,000. 85.13% of the stock is currently owned by 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.