Short Interest in CoreCivic, Inc. (NYSE:CXW) Drops By 14.9%

CoreCivic, Inc. (NYSE:CXW) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 3,480,000 shares, a decline of 14.9% from the September 30th total of 4,090,000 shares. Based on an average daily volume of 873,000 shares, the short-interest ratio is currently 4.0 days. Approximately 3.2% of the shares of the company are short sold.

CoreCivic Trading Down 3.3 %

CXW stock traded down $0.47 during trading on Thursday, hitting $13.85. The company had a trading volume of 574,559 shares, compared to its average volume of 909,780. The firm has a 50-day moving average price of $13.28 and a 200-day moving average price of $13.75. CoreCivic has a 12 month low of $10.74 and a 12 month high of $16.54. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 23.17 and a beta of 0.87.

CoreCivic (NYSE:CXW) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.20). The firm had revenue of $490.11 million for the quarter, compared to the consensus estimate of $481.87 million. CoreCivic had a return on equity of 6.10% and a net margin of 3.50%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 EPS. As a group, analysts predict that CoreCivic will post 1.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wedbush restated a “neutral” rating and issued a $14.00 target price on shares of CoreCivic in a research note on Friday, September 13th.

Insider Activity

In other news, EVP Lucibeth Mayberry sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $12.63, for a total transaction of $505,200.00. Following the completion of the transaction, the executive vice president now directly owns 223,733 shares of the company’s stock, valued at approximately $2,825,747.79. This trade represents 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 the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $12.40, for a total value of $186,000.00. Following the transaction, the chief operating officer now directly owns 203,504 shares in the company, valued at $2,523,449.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lucibeth Mayberry sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $12.63, for a total transaction of $505,200.00. Following the sale, the executive vice president now directly owns 223,733 shares of the company’s stock, valued at approximately $2,825,747.79. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 169,996 shares of company stock worth $2,177,640. Company insiders own 2.21% of the company’s stock.

Hedge Funds Weigh In On CoreCivic

A number of hedge funds and other institutional investors have recently bought and sold shares of CXW. River Road Asset Management LLC increased its stake in shares of CoreCivic by 0.5% in the 3rd quarter. River Road Asset Management LLC now owns 8,611,640 shares of the real estate investment trust’s stock valued at $108,937,000 after acquiring an additional 40,365 shares during the last quarter. abrdn plc increased its stake in 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 purchasing an additional 82,500 shares in the last quarter. Foundry Partners LLC raised its holdings in CoreCivic by 11.4% in the first quarter. Foundry Partners LLC now owns 530,237 shares of the real estate investment trust’s stock worth $8,277,000 after purchasing an additional 54,377 shares during the period. Lee Danner & Bass Inc. bought a new position in shares of CoreCivic during the second quarter worth $6,818,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of 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 valued at $5,204,000 after buying an additional 185,075 shares during the period. 85.13% of the stock is owned by institutional investors.

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.