CoreCivic (NYSE:CXW) Hits New 1-Year High – Still a Buy?

Shares of CoreCivic, Inc. (NYSE:CXW) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $18.01 and last traded at $17.45, with a volume of 662744 shares changing hands. The stock had previously closed at $13.63.

Analyst Upgrades and Downgrades

Separately, Wedbush reissued a “neutral” rating and set a $14.00 price target on shares of CoreCivic in a research note on Friday, September 13th.

CoreCivic Stock Up 28.9 %

The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 28.88 and a beta of 0.86. The firm’s 50-day moving average price is $13.27 and its 200 day moving average price is $13.70.

CoreCivic (NYSE:CXW) last released its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.20). CoreCivic had a return on equity of 6.10% and a net margin of 3.50%. The company had revenue of $490.11 million for the quarter, compared to analysts’ expectations of $481.87 million. During the same period in the previous year, the business posted $0.33 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Sell-side analysts expect that CoreCivic, Inc. will post 1.51 EPS for the current year.

Insider Buying and Selling

In related news, EVP Lucibeth Mayberry sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $12.63, for a total transaction of $505,200.00. Following the transaction, the executive vice president now owns 223,733 shares of the company’s stock, valued at approximately $2,825,747.79. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other CoreCivic news, EVP Lucibeth Mayberry sold 40,000 shares of CoreCivic stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $12.63, for a total value of $505,200.00. Following the completion of the sale, the executive vice president now owns 223,733 shares in the company, valued at $2,825,747.79. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David K. Churchill sold 15,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $13.61, for a total transaction of $204,150.00. Following the transaction, the insider now owns 214,056 shares in the company, valued at approximately $2,913,302.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 169,996 shares of company stock worth $2,177,640. 2.21% of the stock is owned by corporate insiders.

Institutional Trading of CoreCivic

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in CoreCivic in the second quarter valued at $29,000. nVerses Capital LLC purchased a new stake in CoreCivic during the 2nd quarter worth $40,000. GAMMA Investing LLC grew its stake in shares of CoreCivic by 77.7% in the third quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 1,632 shares in the last quarter. EntryPoint Capital LLC purchased a new position in CoreCivic in the 1st quarter worth approximately $84,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in CoreCivic in the first quarter valued at approximately $87,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.

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.