CoreCivic (NYSE:CXW) Shares Down 3.8% - What's Next?

CoreCivic, Inc. (NYSE:CXW - Get Free Report) shares dropped 3.8% on Tuesday . The stock traded as low as $19.08 and last traded at $19.25. Approximately 274,602 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 1,054,325 shares. The stock had previously closed at $20.01.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CXW. Northland Securities lifted their price objective on shares of CoreCivic from $17.00 to $32.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Wedbush upgraded 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.

CoreCivic Stock Performance

The stock has a market cap of $2.03 billion, a PE ratio of 27.45 and a beta of 1.00. 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 firm has a fifty day moving average price of $21.47 and a 200 day moving average price of $17.18.

Insider Activity

In other CoreCivic news, 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 value of $240,000.00. Following the sale, the director now directly owns 101,936 shares of the company's stock, valued at approximately $2,446,464. This trade represents a 8.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Garfinkle sold 50,000 shares of CoreCivic stock in a transaction on Monday, November 11th. The shares were sold at an average price of $24.20, for a total transaction of $1,210,000.00. Following the completion of the sale, the chief financial officer now directly owns 276,528 shares in the company, valued at $6,691,977.60. This represents a 15.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,000 shares of company stock valued at $2,389,880 in the last ninety days. Insiders own 1.89% of the company's stock.

Hedge Funds Weigh In On CoreCivic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CXW. GAMMA Investing LLC raised its holdings in shares of CoreCivic by 25.5% during the fourth quarter. GAMMA Investing LLC now owns 4,686 shares of the real estate investment trust's stock valued at $102,000 after acquiring an additional 953 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of CoreCivic by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,424 shares of the real estate investment trust's stock worth $745,000 after acquiring an additional 1,401 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of CoreCivic by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 57,312 shares of the real estate investment trust's stock valued at $1,246,000 after buying an additional 1,450 shares during the period. Smartleaf Asset Management LLC grew its position in CoreCivic by 318.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust's stock worth $53,000 after acquiring an additional 1,859 shares during the period. Finally, HighTower Advisors LLC increased its position in shares of CoreCivic by 13.7% during the 3rd quarter. HighTower Advisors LLC now owns 15,549 shares of the real estate investment trust's stock worth $205,000 after purchasing an additional 1,877 shares during the last quarter. 85.13% of the stock is owned by hedge funds and other institutional investors.

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.