CoreCivic (NYSE:CXW) Shares Gap Down - Here's What Happened

CoreCivic, Inc. (NYSE:CXW - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $18.84, but opened at $16.99. CoreCivic shares last traded at $17.40, with a volume of 447,565 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on CXW shares. Noble Financial raised CoreCivic from a "market perform" rating to an "outperform" rating in a research note on Wednesday. Wedbush restated an "outperform" rating and set a $30.00 price objective on shares of CoreCivic in a report on Tuesday. Finally, Northland Securities boosted their price objective on CoreCivic from $17.00 to $32.00 and gave the stock an "outperform" rating in a report on Friday, November 8th.

CoreCivic Trading Down 1.5 %

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.51. The business's 50-day moving average price is $21.30 and its two-hundred day moving average price is $17.29. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 28.03 and a beta of 1.00.

CoreCivic (NYSE:CXW - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.06. CoreCivic had a net margin of 3.85% and a return on equity of 6.55%. Research analysts predict that CoreCivic, Inc. will post 1.64 earnings per share for the current year.

Insider Activity

In other CoreCivic news, Director Mark A. Emkes sold 16,000 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $22.70, for a total transaction of $363,200.00. Following the completion of the transaction, the director now directly owns 149,264 shares in the company, valued at $3,388,292.80. The trade was a 9.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Anthony L. Grande sold 26,000 shares of the business's 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 1.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CXW. Cooper Creek Partners Management LLC raised its position in CoreCivic by 9.9% during the fourth 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 purchasing an additional 553,336 shares in the last quarter. Raymond James Financial Inc. acquired a new position in CoreCivic during the fourth quarter valued at approximately $11,733,000. Forest Avenue Capital Management LP acquired a new position in CoreCivic during the fourth quarter valued at approximately $11,205,000. Nisa Investment Advisors LLC increased its holdings in shares of CoreCivic by 13,071.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 253,147 shares of the real estate investment trust's stock worth $5,503,000 after buying an additional 251,225 shares in the last quarter. Finally, Discovery Capital Management LLC CT acquired a new position in shares of CoreCivic during the fourth quarter worth $5,100,000. 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.