CoreCivic (NYSE:CXW) Rating Lowered to Hold at StockNews.com

CoreCivic (NYSE:CXWGet Rating) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other analysts have also recently commented on CXW. Wells Fargo & Company upgraded CoreCivic from a “neutral” rating to an “outperform” rating and set a $17.00 price target for the company in a report on Thursday, April 14th. Wedbush upgraded CoreCivic from a “neutral” rating to an “outperform” rating and set a $17.00 price target for the company in a report on Thursday, April 14th.

CoreCivic Price Performance

CoreCivic stock traded down $0.56 during midday trading on Thursday, reaching $9.82. 1,476,202 shares of the company were exchanged, compared to its average volume of 939,284. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 13.45 and a beta of 0.82. The firm’s 50-day simple moving average is $11.42 and its 200-day simple moving average is $10.98. CoreCivic has a 1 year low of $8.23 and a 1 year high of $14.24. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.87 and a current ratio of 1.88.

CoreCivic (NYSE:CXWGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). The company had revenue of $453.00 million for the quarter, compared to analysts’ expectations of $467.34 million. CoreCivic had a return on equity of 7.30% and a net margin of 4.73%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 EPS. On average, analysts anticipate that CoreCivic will post 1.52 EPS for the current year.

Insider Buying and Selling

In related news, EVP Lucibeth Mayberry sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $11.37, for a total transaction of $852,750.00. Following the transaction, the executive vice president now directly owns 229,799 shares of the company’s stock, valued at approximately $2,612,814.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CoreCivic news, EVP Lucibeth Mayberry sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $11.37, for a total value of $852,750.00. Following the transaction, the executive vice president now directly owns 229,799 shares of the company’s stock, valued at approximately $2,612,814.63. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thurgood Marshall, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $12.98, for a total value of $129,800.00. Following the completion of the transaction, the director now directly owns 49,547 shares in the company, valued at $643,120.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 105,000 shares of company stock valued at $1,247,350. Corporate insiders own 1.93% of the company’s stock.

Hedge Funds Weigh In On CoreCivic

Institutional investors have recently made changes to their positions in the business. Roosevelt Investment Group LLC acquired a new position in shares of CoreCivic in the 4th quarter valued at approximately $100,000. Yousif Capital Management LLC acquired a new position in shares of CoreCivic in the 4th quarter valued at approximately $1,099,000. AXS Investments LLC acquired a new position in shares of CoreCivic in the 4th quarter valued at approximately $184,000. Hourglass Capital LLC raised its position in shares of CoreCivic by 8.4% in the 1st quarter. Hourglass Capital LLC now owns 243,375 shares of the real estate investment trust’s stock valued at $2,718,000 after purchasing an additional 18,905 shares in the last quarter. Finally, Quantedge Capital Pte Ltd increased its holdings in shares of CoreCivic by 59.4% in the 4th quarter. Quantedge Capital Pte Ltd now owns 27,100 shares of the real estate investment trust’s stock valued at $270,000 after acquiring an additional 10,100 shares during the last quarter. 82.35% of the stock is owned by institutional investors and hedge funds.

CoreCivic Company Profile

(Get Rating)

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.

Further Reading

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