Shares of CoreCivic, Inc. (NYSE:CXW - Get Free Report) saw unusually-strong trading volume on Friday after Northland Securities raised their price target on the stock from $17.00 to $32.00. Northland Securities currently has an outperform rating on the stock. Approximately 1,509,561 shares traded hands during trading, an increase of 57% from the previous session's volume of 959,873 shares.The stock last traded at $23.31 and had previously closed at $22.08.
Separately, Wedbush restated a "neutral" rating and issued a $14.00 target price on shares of CoreCivic in a research note on Friday, September 13th.
Check Out Our Latest Research Report on CXW
Insider Transactions at CoreCivic
In other news, insider David K. Churchill sold 35,000 shares of the company's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $12.62, for a total value of $441,700.00. Following the completion of the transaction, the insider now directly owns 229,056 shares in the company, valued at approximately $2,890,686.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Patrick D. Swindle sold 15,000 shares of the stock in a transaction dated Monday, August 12th. The stock was 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 in the company, valued at $2,523,449.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David K. Churchill sold 35,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $12.62, for a total value of $441,700.00. Following the sale, the insider now owns 229,056 shares of the company's stock, valued at $2,890,686.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 169,996 shares of company stock worth $2,177,640. 1.89% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On CoreCivic
Institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in CoreCivic in the 2nd quarter worth approximately $29,000. nVerses Capital LLC purchased a new stake in CoreCivic in the 2nd quarter worth approximately $40,000. GAMMA Investing LLC lifted its holdings in CoreCivic by 77.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust's stock worth $47,000 after buying an additional 1,632 shares during the period. EntryPoint Capital LLC bought a new position in shares of CoreCivic in the 1st quarter worth approximately $84,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of CoreCivic in the 1st quarter worth approximately $87,000. 85.13% of the stock is currently owned by hedge funds and other institutional investors.
CoreCivic Price Performance
The stock has a market cap of $2.48 billion, a P/E ratio of 33.61 and a beta of 0.86. The firm has a 50-day moving average price of $13.68 and a 200-day moving average price of $13.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.44 and a current ratio of 1.44.
CoreCivic (NYSE:CXW - Get Free Report) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.20). CoreCivic had a return on equity of 6.57% and a net margin of 3.85%. The firm had revenue of $490.11 million during the quarter, compared to the consensus estimate of $481.87 million. During the same period in the prior year, the company posted $0.33 EPS. The firm's revenue was up 5.7% on a year-over-year basis. On average, analysts forecast that CoreCivic, Inc. will post 1.51 earnings per share for the current fiscal year.
About CoreCivic
(
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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.
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