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CoreCivic (NYSE:CXW) Stock Rating Upgraded by Wedbush

CoreCivic logo with Finance background

Wedbush upgraded shares of CoreCivic (NYSE:CXW - Free Report) from a neutral rating to an outperform rating in a research note released on Tuesday, Marketbeat.com reports. Wedbush currently has $30.00 target price on the real estate investment trust's stock, up from their prior target price of $19.00.

Separately, Northland Securities raised their price target on shares of CoreCivic from $17.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th.

Get Our Latest Research Report on CoreCivic

CoreCivic Trading Up 1.5 %

CoreCivic stock traded up $0.32 during mid-day trading on Tuesday, hitting $22.25. The company's stock had a trading volume of 2,322,489 shares, compared to its average volume of 1,022,321. 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 50 day moving average of $17.42 and a 200-day moving average of $14.81. CoreCivic has a one year low of $10.74 and a one year high of $24.99. The stock has a market cap of $2.45 billion, a PE ratio of 33.21 and a beta of 1.02.

Insiders Place Their Bets

In related news, EVP Anthony L. Grande sold 26,000 shares of the company's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $22.18, for a total transaction of $576,680.00. Following the completion of the sale, the executive vice president now directly owns 127,380 shares in the company, 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 through this link. Also, EVP Cole G. Carter sold 8,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $12.58, for a total transaction of $100,640.00. Following the sale, the executive vice president now directly owns 207,847 shares of the company's stock, valued at approximately $2,614,715.26. The trade was a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock worth $2,490,520 in the last ninety days. 2.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On CoreCivic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CXW. SG Americas Securities LLC increased its holdings in shares of CoreCivic by 79.3% in the second quarter. SG Americas Securities LLC now owns 16,036 shares of the real estate investment trust's stock valued at $208,000 after purchasing an additional 7,094 shares during the period. Wedge Capital Management L L P NC raised its position in CoreCivic by 21.8% during the 2nd quarter. Wedge Capital Management L L P NC now owns 97,309 shares of the real estate investment trust's stock worth $1,263,000 after buying an additional 17,385 shares during the last quarter. Nisa Investment Advisors LLC raised its position in CoreCivic by 85.8% during 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 during the last quarter. SummerHaven Investment Management LLC lifted its stake in CoreCivic by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 79,592 shares of the real estate investment trust's stock valued at $1,033,000 after acquiring an additional 998 shares during the period. Finally, Innealta Capital LLC purchased a new stake in shares of CoreCivic in the 2nd quarter valued at $87,000. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

About CoreCivic

(Get Free Report)

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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