CoreCivic (NYSE:CXW) Trading Down 3.8% – Here’s What Happened

CoreCivic, Inc. (NYSE:CXW)’s stock price was down 3.8% during trading on Tuesday . The company traded as low as $19.08 and last traded at $19.25. Approximately 274,602 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 1,054,325 shares. The stock had previously closed at $20.01.

Wall Street Analysts Forecast Growth

CXW has been the topic of several research reports. Northland Securities upped their price objective on CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Wedbush upgraded CoreCivic from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $19.00 to $30.00 in a report on Tuesday, December 10th.

CoreCivic Trading Down 5.8 %

The firm has a market cap of $2.08 billion, a P/E ratio of 28.22 and a beta of 1.00. The business’s 50-day moving average is $21.75 and its two-hundred day moving average is $17.10. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.66.

Insider Transactions at CoreCivic

In other news, Director Anne L. Mariucci sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the transaction, the director now directly owns 101,936 shares in the company, valued at approximately $2,446,464. The trade was a 8.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO David Garfinkle sold 50,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.20, for a total value of $1,210,000.00. Following the completion of the transaction, the chief financial officer now directly owns 276,528 shares of the company’s stock, valued at $6,691,977.60. This trade represents a 15.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,000 shares of company stock worth $2,389,880. 2.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CoreCivic

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of CoreCivic by 77.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 1,632 shares in the last quarter. nVerses Capital LLC increased its stake in shares of CoreCivic by 177.4% during the third quarter. nVerses Capital LLC now owns 8,600 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 5,500 shares during the period. KBC Group NV raised its holdings in CoreCivic by 57.3% during the fourth quarter. KBC Group NV now owns 5,477 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 1,995 shares in the last quarter. Chesapeake Capital Corp IL acquired a new stake in CoreCivic in the third quarter worth approximately $139,000. Finally, Tidal Investments LLC bought a new position in CoreCivic during the 3rd quarter valued at $139,000. Institutional investors and hedge funds 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.