Stock Traders Buy Large Volume of Call Options on Corecivic (NYSE:CXW)

Corecivic Inc (NYSE:CXW) was the target of some unusual options trading on Thursday. Investors bought 3,133 call options on the stock. This is an increase of approximately 1,732% compared to the average daily volume of 171 call options.

Several equities analysts have commented on the company. TheStreet lowered Corecivic from a “b-” rating to a “c+” rating in a research report on Wednesday, July 17th. ValuEngine upgraded Corecivic from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, Zacks Investment Research downgraded Corecivic from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th.

In other Corecivic news, Director Thurgood Marshall, Jr. sold 7,600 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $17.65, for a total transaction of $134,140.00. Following the completion of the transaction, the director now owns 32,057 shares of the company’s stock, valued at $565,806.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.24% of the company’s stock.



A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CXW. Tower Research Capital LLC TRC increased its holdings in Corecivic by 276.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,614 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 1,185 shares in the last quarter. US Bancorp DE increased its holdings in Corecivic by 104.9% in the 2nd quarter. US Bancorp DE now owns 2,166 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,109 shares in the last quarter. Carroll Financial Associates Inc. increased its holdings in Corecivic by 39.5% in the 2nd quarter. Carroll Financial Associates Inc. now owns 3,010 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 853 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in Corecivic in the 2nd quarter worth about $63,000. Finally, Pearl River Capital LLC increased its holdings in Corecivic by 1,575.5% in the 2nd quarter. Pearl River Capital LLC now owns 3,284 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 3,088 shares in the last quarter. Institutional investors own 81.87% of the company’s stock.

Shares of NYSE:CXW traded down $0.25 on Friday, hitting $17.81. 675,293 shares of the company traded hands, compared to its average volume of 717,365. Corecivic has a 52 week low of $15.56 and a 52 week high of $25.82. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.13. The stock has a 50 day simple moving average of $17.14 and a 200-day simple moving average of $19.80. The company has a market cap of $2.13 billion, a PE ratio of 7.71 and a beta of 1.03.

Corecivic (NYSE:CXW) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. Corecivic had a return on equity of 13.50% and a net margin of 9.39%. The firm had revenue of $490.29 million during the quarter, compared to the consensus estimate of $483.78 million. During the same period last year, the company earned $0.57 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Corecivic will post 2.6 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.76 annualized dividend and a dividend yield of 9.88%. Corecivic’s payout ratio is presently 76.19%.

Corecivic Company Profile

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.

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