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

Shares of CoreCivic, Inc. (NYSE:CXW) dropped 3.8% during mid-day trading on Tuesday . The company traded as low as $19.08 and last traded at $19.25. Approximately 274,602 shares were traded 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

A number of equities analysts have recently weighed in on the company. Northland Securities boosted their price target on CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Wedbush upgraded shares of CoreCivic from a “neutral” rating to an “outperform” rating and upped their target price for the company from $19.00 to $30.00 in a report on Tuesday, December 10th.

CoreCivic Stock Performance

The stock has a 50-day moving average price of $21.75 and a 200 day moving average price of $17.10. The firm has a market cap of $2.08 billion, a PE ratio of 28.22 and a beta of 1.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.51.

Insiders Place Their Bets

In related news, EVP Anthony L. Grande sold 26,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $22.18, for a total transaction of $576,680.00. Following the completion of the sale, the executive vice president now owns 127,380 shares of the company’s stock, valued at approximately $2,825,288.40. This represents a 16.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anne L. Mariucci sold 10,000 shares of CoreCivic stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the transaction, the director now directly owns 101,936 shares in the company, valued at approximately $2,446,464. This trade represents a 8.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,000 shares of company stock valued at $2,389,880 over the last quarter. Company insiders own 2.21% of the company’s stock.

Institutional Trading of CoreCivic

Several large investors have recently added to or reduced their stakes in CXW. River Road Asset Management LLC boosted its stake in shares of CoreCivic by 0.5% in the third 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 purchasing an additional 40,365 shares during the period. FMR LLC boosted its position in CoreCivic by 3.8% in the 3rd quarter. FMR LLC now owns 5,117,716 shares of the real estate investment trust’s stock valued at $64,739,000 after buying an additional 186,310 shares during the last quarter. State Street Corp grew its stake in shares of 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 in the last quarter. Geode Capital Management LLC increased its position in shares of CoreCivic by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,570,005 shares of the real estate investment trust’s stock worth $32,517,000 after acquiring an additional 18,410 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of CoreCivic by 1.5% in the third 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 in the last quarter. 85.13% of the stock is currently owned by institutional investors and hedge funds.

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.