CoreCivic (NYSE:CXW) Trading Down 5.8% - What's Next?

CoreCivic, Inc. (NYSE:CXW - Get Free Report)'s share price fell 5.8% on Tuesday . The stock traded as low as $20.03 and last traded at $19.66. 363,982 shares were traded 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

Several research firms recently weighed in on CXW. Northland Securities boosted their price objective on shares of CoreCivic from $17.00 to $32.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Wedbush upgraded CoreCivic from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $19.00 to $30.00 in a research note on Tuesday, December 10th.

CoreCivic Price Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.51 and a current ratio of 1.51. The company has a fifty day moving average price of $21.79 and a two-hundred day moving average price of $17.06. The company has a market cap of $2.20 billion, a P/E ratio of 29.93 and a beta of 1.00.

Insider Buying and Selling at CoreCivic

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 sale, the executive vice president now owns 127,380 shares in the company, valued at $2,825,288.40. This represents a 16.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anne L. Mariucci sold 10,000 shares of CoreCivic stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the transaction, the director now owns 101,936 shares of the company's stock, valued at $2,446,464. This represents a 8.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,000 shares of company stock worth $2,389,880 over the last ninety days. 2.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allianz Asset Management GmbH grew its position in shares of CoreCivic by 11.4% in the fourth quarter. Allianz Asset Management GmbH now owns 1,513,031 shares of the real estate investment trust's stock valued at $32,893,000 after purchasing an additional 154,426 shares during the last quarter. Principal Financial Group Inc. grew its holdings in CoreCivic by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 534,687 shares of the real estate investment trust's stock valued at $11,624,000 after buying an additional 14,892 shares in the last quarter. Empowered Funds LLC bought a new position in CoreCivic during the 4th quarter worth $1,477,000. Tandem Financial LLC acquired a new stake in shares of CoreCivic during the fourth quarter worth $573,000. Finally, Guidance Capital Inc. acquired a new position in shares of CoreCivic in the fourth quarter valued at about $444,000. Institutional investors and hedge funds own 85.13% of the company's stock.

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.