CoreCivic (NYSE:CXW) Shares Down 5.8% - Here's Why

Shares of CoreCivic, Inc. (NYSE:CXW - Get Free Report) traded down 5.8% during trading on Tuesday . The stock traded as low as $20.03 and last traded at $19.66. 363,982 shares traded hands during trading, a decline of 65% from the average session volume of 1,026,404 shares. The stock had previously closed at $20.87.

Analysts Set New Price Targets

CXW has been the topic of a number of research analyst reports. Wedbush upgraded shares of CoreCivic from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $19.00 to $30.00 in a report on Tuesday, December 10th. Northland Securities lifted their target price on CoreCivic from $17.00 to $32.00 and gave the company an "outperform" rating in a report on Friday, November 8th.

CoreCivic Trading Down 1.0 %

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 simple moving average is $21.82 and its two-hundred day simple moving average is $16.99. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 30.59 and a beta of 1.01.

Insider Buying and Selling

In other CoreCivic news, EVP Anthony L. Grande sold 26,000 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $22.18, for a total value of $576,680.00. Following the transaction, the executive vice president now directly owns 127,380 shares of the company's stock, valued at $2,825,288.40. This represents a 16.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anne L. Mariucci sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the director now directly owns 101,936 shares of the company's stock, valued at $2,446,464. The trade was a 8.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 102,000 shares of company stock valued at $2,389,880. Company insiders own 1.89% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew 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 in the last quarter. nVerses Capital LLC grew its position in CoreCivic by 177.4% in the 3rd quarter. nVerses Capital LLC now owns 8,600 shares of the real estate investment trust's stock valued at $109,000 after buying an additional 5,500 shares in the last quarter. KBC Group NV increased its stake in CoreCivic by 57.3% during the 4th quarter. KBC Group NV now owns 5,477 shares of the real estate investment trust's stock valued at $119,000 after buying an additional 1,995 shares during the period. Chesapeake Capital Corp IL acquired a new stake in shares of CoreCivic in the 3rd quarter worth approximately $139,000. Finally, Tidal Investments LLC acquired a new position in shares of CoreCivic during the third quarter valued at approximately $139,000. 85.13% of the stock is owned by institutional investors and hedge funds.

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.