CoreCivic (NYSE:CXW) Sets New 52-Week High – Here’s What Happened

CoreCivic, Inc. (NYSE:CXW) hit a new 52-week high on Wednesday . The stock traded as high as $18.01 and last traded at $17.45, with a volume of 662744 shares. The stock had previously closed at $13.63.

Wall Street Analyst Weigh In

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

CoreCivic Trading Up 28.9 %

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

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

Insider Activity at CoreCivic

In other news, COO Patrick D. Swindle sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $12.40, for a total transaction of $186,000.00. Following the completion of the sale, the chief operating officer now owns 203,504 shares in the company, valued at approximately $2,523,449.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Cole G. Carter sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $12.58, for a total value of $100,640.00. Following the completion of the sale, the executive vice president now owns 207,847 shares in the company, valued at $2,614,715.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick D. Swindle sold 15,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $12.40, for a total transaction of $186,000.00. Following the completion of the sale, the chief operating officer now directly owns 203,504 shares of the company’s stock, valued at $2,523,449.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 169,996 shares of company stock valued at $2,177,640 over the last three months. 2.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CoreCivic

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in shares of CoreCivic by 159.3% during the first quarter. BNP Paribas Financial Markets now owns 115,555 shares of the real estate investment trust’s stock worth $1,804,000 after purchasing an additional 70,999 shares during the last quarter. River Road Asset Management LLC raised its position in CoreCivic by 0.5% during the 3rd quarter. River Road Asset Management LLC now owns 8,611,640 shares of the real estate investment trust’s stock worth $108,937,000 after buying an additional 40,365 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of CoreCivic by 85.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 400,896 shares of the real estate investment trust’s stock worth $5,204,000 after acquiring an additional 185,075 shares during the period. Resolute Capital Asset Partners LLC purchased a new stake in shares of CoreCivic in the second quarter valued at about $649,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of CoreCivic during the second quarter worth about $1,115,000. 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.