CoreCivic (NYSE:CXW) Shares Gap Up on Analyst Upgrade

CoreCivic, Inc. (NYSE:CXW - Get Free Report) shares gapped up prior to trading on Monday after Northland Securities raised their price target on the stock from $17.00 to $32.00. The stock had previously closed at $22.52, but opened at $24.75. Northland Securities currently has an outperform rating on the stock. CoreCivic shares last traded at $24.38, with a volume of 685,542 shares trading hands.

Separately, Wedbush reiterated a "neutral" rating and set a $14.00 target price on shares of CoreCivic in a report on Friday, September 13th.

Insider Activity

In other news, EVP Lucibeth Mayberry sold 40,000 shares of the firm's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $12.63, for a total value of $505,200.00. Following the sale, the executive vice president now directly owns 223,733 shares in the company, valued at approximately $2,825,747.79. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Lucibeth Mayberry sold 40,000 shares of CoreCivic stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $12.63, for a total value of $505,200.00. Following the completion of the sale, the executive vice president now directly owns 223,733 shares in the company, valued at $2,825,747.79. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Damon T. Hininger sold 31,996 shares of CoreCivic stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $12.50, for a total transaction of $399,950.00. Following the completion of the sale, the chief executive officer now owns 788,266 shares of the company's stock, valued at $9,853,325. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,996 shares of company stock worth $1,549,940. Corporate insiders own 1.89% of the company's stock.

Hedge Funds Weigh In On CoreCivic

A number of institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new position in shares of CoreCivic during the 2nd quarter valued at approximately $29,000. nVerses Capital LLC acquired a new stake in CoreCivic in the 2nd quarter valued at $40,000. GAMMA Investing LLC grew its stake 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 valued at $47,000 after acquiring an additional 1,632 shares during the period. EntryPoint Capital LLC acquired a new stake in CoreCivic in the 1st quarter valued at $84,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in CoreCivic in the 1st quarter valued at $87,000. 85.13% of the stock is owned by hedge funds and other institutional investors.

CoreCivic Stock Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.44 and a current ratio of 1.51. The firm's 50 day simple moving average is $13.89 and its 200-day simple moving average is $13.89. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 35.73 and a beta of 0.86.

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.