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

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

CoreCivic Price Performance

NYSE CXW opened at $20.03 on Tuesday. CoreCivic has a 12 month low of $10.74 and a 12 month high of $24.99. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 32.83 and a beta of 1.02. The company’s 50 day moving average is $20.10 and its two-hundred day moving average is $18.21. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 0.65.

CoreCivic (NYSE:CXW) last released its earnings results on Monday, February 10th. The real estate investment trust reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. CoreCivic had a net margin of 3.51% and a return on equity of 5.97%. As a group, research analysts anticipate that CoreCivic will post 1.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CXW shares. Wedbush reaffirmed an “outperform” rating and set a $30.00 price target on shares of CoreCivic in a research report on Tuesday, February 11th. StockNews.com upgraded shares of CoreCivic from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Finally, Noble Financial upgraded shares of CoreCivic from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 12th.

Institutional Investors Weigh In On CoreCivic

A number of institutional investors have recently added to or reduced their stakes in the stock. Cooper Creek Partners Management LLC grew its holdings in CoreCivic by 9.9% during the 4th quarter. Cooper Creek Partners Management LLC now owns 6,127,227 shares of the real estate investment trust’s stock valued at $133,206,000 after buying an additional 553,336 shares in the last quarter. FMR LLC grew its holdings in CoreCivic by 3.8% during 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 in the last quarter. State Street Corp grew its holdings in CoreCivic by 0.4% during the 3rd quarter. State Street Corp now owns 4,200,268 shares of the real estate investment trust’s stock valued at $53,133,000 after buying an additional 18,415 shares in the last quarter. Geode Capital Management LLC grew its holdings in CoreCivic by 0.7% during the 3rd 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 buying an additional 18,410 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in CoreCivic by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,481,315 shares of the real estate investment trust’s stock valued at $31,389,000 after buying an additional 35,591 shares in the last quarter. 85.13% of the stock is owned by hedge funds and other institutional investors.

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.