StockNews.com Downgrades CoreCivic (NYSE:CXW) to Hold

CoreCivic (NYSE:CXW) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Other equities research analysts have also issued reports about the stock. Northland Securities upped their price objective on shares of CoreCivic from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Wedbush increased their target price on shares of CoreCivic from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th.

CoreCivic Trading Down 1.3 %

NYSE:CXW opened at $14.90 on Monday. The firm’s fifty day moving average is $15.11 and its 200-day moving average is $14.31. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.60 and a current ratio of 1.60. CoreCivic has a 52 week low of $7.84 and a 52 week high of $16.24. The firm has a market cap of $1.66 billion, a P/E ratio of 25.25 and a beta of 0.81.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.17). CoreCivic had a net margin of 3.56% and a return on equity of 4.70%. The firm had revenue of $491.25 million during the quarter, compared to the consensus estimate of $489.62 million. Equities analysts expect that CoreCivic will post 1.31 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Anthony L. Grande sold 15,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $14.50, for a total transaction of $217,500.00. Following the transaction, the executive vice president now directly owns 186,692 shares of the company’s stock, valued at $2,707,034. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other CoreCivic news, CEO Damon T. Hininger sold 50,525 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $14.62, for a total transaction of $738,675.50. Following the transaction, the chief executive officer now owns 820,262 shares in the company, valued at $11,992,230.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Anthony L. Grande sold 15,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $14.50, for a total transaction of $217,500.00. Following the transaction, the executive vice president now owns 186,692 shares in the company, valued at approximately $2,707,034. The disclosure for this sale can be found here. 2.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CXW. Goldman Sachs Group Inc. raised its holdings in CoreCivic by 1,050.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,138,544 shares of the real estate investment trust’s stock worth $45,603,000 after buying an additional 2,865,763 shares during the last quarter. Cooper Creek Partners Management LLC raised its holdings in CoreCivic by 24.2% during the third quarter. Cooper Creek Partners Management LLC now owns 3,297,002 shares of the real estate investment trust’s stock worth $37,091,000 after buying an additional 641,576 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in CoreCivic by 1,284.1% during the fourth quarter. Teacher Retirement System of Texas now owns 545,967 shares of the real estate investment trust’s stock worth $7,933,000 after buying an additional 506,522 shares during the last quarter. Boston Partners raised its holdings in CoreCivic by 13.7% during the third quarter. Boston Partners now owns 2,910,746 shares of the real estate investment trust’s stock worth $33,343,000 after buying an additional 351,508 shares during the last quarter. Finally, AWH Capital L.P. raised its holdings in CoreCivic by 88.7% during the third quarter. AWH Capital L.P. now owns 425,500 shares of the real estate investment trust’s stock worth $4,787,000 after buying an additional 200,000 shares during the last quarter. 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.