CoreCivic, Inc. (NYSE:CXW) Sees Large Decline in Short Interest

CoreCivic, Inc. (NYSE:CXW) was the recipient of a significant drop in short interest in February. As of February 28th, there was short interest totalling 2,430,000 shares, a drop of 30.8% from the February 13th total of 3,510,000 shares. Based on an average daily volume of 1,260,000 shares, the days-to-cover ratio is presently 1.9 days. Currently, 2.3% of the shares of the stock are sold short.

CoreCivic Stock Down 1.5 %

NYSE CXW opened at $20.03 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 0.65. The company has a fifty day moving average of $20.10 and a two-hundred day moving average of $18.21. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 32.83 and a beta of 1.02. CoreCivic has a 52 week low of $10.74 and a 52 week high of $24.99.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $0.39 EPS for the quarter, topping the consensus estimate of $0.33 by $0.06. CoreCivic had a net margin of 3.51% and a return on equity of 5.97%. On average, analysts predict that CoreCivic will post 1.5 earnings per share for the current year.

Institutional Trading of CoreCivic

Several institutional investors and hedge funds have recently made changes to their positions in CXW. Meeder Asset Management Inc. bought a new stake in shares of CoreCivic during the fourth quarter worth $43,000. Smartleaf Asset Management LLC lifted its position in shares of CoreCivic by 318.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 1,859 shares during the last quarter. Copia Wealth Management bought a new stake in shares of CoreCivic during the fourth quarter worth $82,000. Russell Investments Group Ltd. raised its holdings in shares of CoreCivic by 86,300.0% in the fourth quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 4,315 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of CoreCivic by 25.5% in the fourth quarter. GAMMA Investing LLC now owns 4,686 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 953 shares in the last quarter. 85.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CXW. StockNews.com raised shares of CoreCivic from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and issued a $30.00 target price on shares of CoreCivic in a report on Tuesday, February 11th. Finally, Noble Financial raised shares of CoreCivic from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 12th.

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.