Insider Selling: CoreCivic, Inc. (NYSE:CXW) CFO Sells 25,000 Shares of Stock

CoreCivic, Inc. (NYSE:CXW) CFO David Garfinkle sold 25,000 shares of CoreCivic stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $13.60, for a total value of $340,000.00. Following the sale, the chief financial officer now directly owns 326,528 shares of the company’s stock, valued at approximately $4,440,780.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CoreCivic Price Performance

Shares of CXW traded up $0.37 during trading hours on Friday, hitting $13.82. 778,409 shares of the stock were exchanged, compared to its average volume of 930,703. 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 stock’s 50-day moving average price is $13.09 and its two-hundred day moving average price is $14.34. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 24.03 and a beta of 0.87. CoreCivic, Inc. has a 12-month low of $9.94 and a 12-month high of $16.54.

CoreCivic (NYSE:CXW) last posted its 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 firm had revenue of $490.11 million for the quarter, compared to analyst estimates of $481.87 million. During the same period in the previous year, the company posted $0.33 EPS. CoreCivic’s revenue was up 5.7% on a year-over-year basis. Research analysts expect that CoreCivic, Inc. will post 1.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CXW shares. Wedbush reaffirmed a “neutral” rating and set a $14.00 target price on shares of CoreCivic in a report on Thursday, August 8th. StockNews.com downgraded CoreCivic from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Finally, Noble Financial downgraded CoreCivic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 12th.

Institutional Investors Weigh In On CoreCivic

Hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its position in CoreCivic by 1,050.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,138,544 shares of the real estate investment trust’s stock worth $45,603,000 after acquiring an additional 2,865,763 shares during the period. Allianz Asset Management GmbH raised its holdings in CoreCivic by 15.4% during the fourth quarter. Allianz Asset Management GmbH now owns 688,497 shares of the real estate investment trust’s stock worth $10,004,000 after purchasing an additional 92,112 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 purchasing an additional 506,522 shares during the last quarter. Foundry Partners LLC increased its position in CoreCivic by 11.4% during the first quarter. Foundry Partners LLC now owns 530,237 shares of the real estate investment trust’s stock worth $8,277,000 after buying an additional 54,377 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in CoreCivic during the second quarter worth $6,818,000. 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.