CoreCivic (NYSE:CXW) Upgraded at Wedbush

CoreCivic (NYSE:CXW) was upgraded by equities research analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research note issued to investors on Tuesday. The brokerage currently has a $30.00 target price on the real estate investment trust’s stock, up from their prior target price of $19.00. Wedbush’s price target indicates a potential upside of 36.80% from the stock’s previous close.

Separately, Northland Securities raised their target price on shares of CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, November 8th.

CoreCivic Trading Up 1.9 %

Shares of CXW opened at $21.93 on Tuesday. The firm has a market cap of $2.42 billion, a P/E ratio of 32.73 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.51. CoreCivic has a 1 year low of $10.74 and a 1 year high of $24.99. The company has a 50 day simple moving average of $17.42 and a two-hundred day simple moving average of $14.81.

Insider Activity at CoreCivic

In other 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 value of $100,640.00. Following the sale, the executive vice president now directly owns 207,847 shares in the company, valued at $2,614,715.26. The trade was a 3.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David Garfinkle sold 50,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $24.20, for a total transaction of $1,210,000.00. Following the sale, the chief financial officer now owns 276,528 shares in the company, valued at $6,691,977.60. This represents a 15.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,000 shares of company stock valued at $2,490,520. Insiders own 2.21% of the company’s stock.

Institutional Investors Weigh In On CoreCivic

Several institutional investors have recently modified their holdings of the stock. River Road Asset Management LLC raised its holdings in CoreCivic by 0.5% during the 3rd quarter. River Road Asset Management LLC now owns 8,611,640 shares of the real estate investment trust’s stock valued at $108,937,000 after buying an additional 40,365 shares during the period. FMR LLC boosted its stake in CoreCivic by 3.8% during the third quarter. FMR LLC now owns 5,117,716 shares of the real estate investment trust’s stock worth $64,739,000 after buying an additional 186,310 shares during the period. State Street Corp increased its position in CoreCivic by 0.4% during the third quarter. State Street Corp now owns 4,200,268 shares of the real estate investment trust’s stock valued at $53,133,000 after acquiring an additional 18,415 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of CoreCivic by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,570,005 shares of the real estate investment trust’s stock valued at $32,517,000 after acquiring an additional 18,410 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of CoreCivic by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,481,315 shares of the real estate investment trust’s stock worth $31,389,000 after acquiring an additional 35,591 shares during the last quarter. 85.13% of the stock is 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.