CoreCivic (NYSE:CXW) Trading Up 17.3% - Should You Buy?

Shares of CoreCivic, Inc. (NYSE:CXW - Get Free Report) were up 17.3% on Thursday . The stock traded as high as $20.71 and last traded at $20.63. Approximately 705,382 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 946,541 shares. The stock had previously closed at $17.58.

Analyst Ratings Changes

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

CoreCivic Stock Up 22.6 %

The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.44 and a current ratio of 1.44. The business's 50 day moving average is $13.34 and its 200-day moving average is $13.73. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 34.10 and a beta of 0.86.

CoreCivic (NYSE:CXW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.20). CoreCivic had a return on equity of 6.10% and a net margin of 3.50%. The company had revenue of $490.11 million during the quarter, compared to analyst estimates of $481.87 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The business's revenue for the quarter was up 5.7% on a year-over-year basis. Equities analysts anticipate that CoreCivic, Inc. will post 1.51 EPS for the current fiscal year.

Insider Buying and Selling

In other CoreCivic news, COO Patrick D. Swindle sold 15,000 shares of CoreCivic stock in a transaction on Monday, August 12th. The shares were sold at an average price of $12.40, for a total transaction of $186,000.00. Following the completion of the sale, the chief operating officer now owns 203,504 shares of the company's stock, valued at approximately $2,523,449.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CoreCivic news, COO Patrick D. Swindle sold 15,000 shares of CoreCivic stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $12.40, for a total value of $186,000.00. Following the sale, the chief operating officer now owns 203,504 shares of the company's stock, valued at $2,523,449.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David K. Churchill sold 35,000 shares of the firm's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $12.62, for a total value of $441,700.00. Following the completion of the transaction, the insider now owns 229,056 shares of the company's stock, valued at $2,890,686.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 169,996 shares of company stock worth $2,177,640 in the last 90 days. Corporate insiders own 2.21% of the company's stock.

Institutional Investors Weigh In On CoreCivic

Several hedge funds have recently modified their holdings of CXW. River Road Asset Management LLC raised its position in shares of CoreCivic by 0.5% during the third quarter. River Road Asset Management LLC now owns 8,611,640 shares of the real estate investment trust's stock worth $108,937,000 after purchasing an additional 40,365 shares during the period. abrdn plc boosted its position in shares of CoreCivic by 8.7% in the third quarter. abrdn plc now owns 1,031,400 shares of the real estate investment trust's stock valued at $13,047,000 after acquiring an additional 82,500 shares during the period. Foundry Partners LLC grew its position in shares of CoreCivic by 11.4% during the 1st quarter. Foundry Partners LLC now owns 530,237 shares of the real estate investment trust's stock valued at $8,277,000 after purchasing an additional 54,377 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of CoreCivic during the second quarter worth about $6,818,000. Finally, Nisa Investment Advisors LLC grew its stake in CoreCivic by 85.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 400,896 shares of the real estate investment trust's stock worth $5,204,000 after buying an additional 185,075 shares in the last quarter. Institutional investors and hedge funds own 85.13% of the company's stock.

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.

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