CoreCivic (NYSE:CXW) Upgraded at Wall Street Zen

CoreCivic (NYSE:CXW) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Monday.

CXW has been the topic of several other reports. Wedbush reissued an “outperform” rating and set a $30.00 price target on shares of CoreCivic in a research report on Tuesday, February 11th. Noble Financial raised CoreCivic from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 12th.

CoreCivic Stock Performance

Shares of CXW opened at $21.96 on Monday. The business’s 50 day moving average is $21.74 and its two-hundred day moving average is $21.04. CoreCivic has a 52-week low of $10.74 and a 52-week high of $24.99. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 36.00 and a beta of 0.79. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 0.65.

CoreCivic (NYSE:CXW) last announced its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.10. CoreCivic had a return on equity of 5.97% and a net margin of 3.51%. The company had revenue of $488.60 million for the quarter, compared to analyst estimates of $478.49 million. During the same period in the prior year, the company posted $0.46 EPS. CoreCivic’s quarterly revenue was down 2.4% on a year-over-year basis. Analysts forecast that CoreCivic will post 1.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Lucibeth Mayberry sold 75,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $21.49, for a total value of $1,611,750.00. Following the completion of the transaction, the executive vice president now owns 211,232 shares of the company’s stock, valued at approximately $4,539,375.68. This represents a 26.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Damon T. Hininger sold 72,246 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $22.50, for a total value of $1,625,535.00. Following the completion of the transaction, the chief executive officer now directly owns 879,324 shares of the company’s stock, valued at approximately $19,784,790. The trade was a 7.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,246 shares of company stock valued at $4,061,215 over the last three months. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Philadelphia Financial Management of San Francisco LLC bought a new position in CoreCivic during the first quarter valued at about $18,186,000. Millennium Management LLC boosted its stake in CoreCivic by 88.4% during the fourth quarter. Millennium Management LLC now owns 1,261,944 shares of the real estate investment trust’s stock valued at $27,435,000 after buying an additional 592,070 shares in the last quarter. Cooper Creek Partners Management LLC boosted its stake in CoreCivic by 9.9% during the fourth quarter. Cooper Creek Partners Management LLC now owns 6,127,227 shares of the real estate investment trust’s stock valued at $133,206,000 after buying an additional 553,336 shares in the last quarter. Raymond James Financial Inc. bought a new position in CoreCivic during the fourth quarter valued at about $11,733,000. Finally, Nuveen LLC bought a new position in CoreCivic during the first quarter valued at about $10,629,000. Institutional investors own 85.13% of the company’s stock.

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.