CoreCivic (NYSE:CXW) Sees Large Volume Increase - Should You Buy?

CoreCivic, Inc. (NYSE:CXW - Get Free Report) shares saw an uptick in trading volume on Friday . 811,686 shares were traded during trading, a decline of 19% from the previous session's volume of 1,000,360 shares.The stock last traded at $22.70 and had previously closed at $21.80.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Northland Securities lifted their target price on shares of CoreCivic from $17.00 to $32.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Wedbush reiterated a "neutral" rating and issued a $14.00 price objective on shares of CoreCivic in a report on Friday, September 13th.

CoreCivic Stock Performance

The company has a market cap of $2.43 billion, a price-to-earnings ratio of 32.81 and a beta of 0.86. The firm's 50 day simple moving average is $15.43 and its 200-day simple moving average is $14.31. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.51 and a current ratio of 1.51.

Insider Activity at CoreCivic

In related news, Director Mark A. Emkes sold 16,000 shares of the company's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $22.70, for a total value of $363,200.00. Following the completion of the sale, the director now owns 149,264 shares of the company's stock, valued at approximately $3,388,292.80. This represents a 9.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Cole G. Carter sold 8,000 shares of CoreCivic stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $12.58, for a total transaction of $100,640.00. Following the transaction, the executive vice president now directly owns 207,847 shares in the company, valued at $2,614,715.26. This trade represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,000 shares of company stock valued at $1,913,840. 1.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in CoreCivic in the second quarter valued at $29,000. nVerses Capital LLC purchased a new stake in CoreCivic in the 2nd quarter valued at about $40,000. GAMMA Investing LLC lifted its position in 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 during the last quarter. EntryPoint Capital LLC purchased a new position in CoreCivic during the first quarter worth about $84,000. Finally, Innealta Capital LLC acquired a new stake in shares of CoreCivic during the second quarter valued at about $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.