CoreCivic (NYSE:CXW) Sees Unusually-High Trading Volume – Here’s What Happened

CoreCivic, Inc. (NYSE:CXW) saw unusually-high trading volume on Friday . Approximately 811,686 shares traded hands during mid-day trading, a decline of 19% from the previous session’s volume of 1,000,360 shares.The stock last traded at $22.70 and had previously closed at $21.80.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CXW shares. Wedbush reiterated a “neutral” rating and set a $14.00 price objective on shares of CoreCivic in a research note on Friday, September 13th. Northland Securities lifted 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.

CoreCivic Stock Performance

The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 33.40 and a beta of 0.86. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.66. The stock has a 50-day simple moving average of $15.25 and a 200-day simple moving average of $14.26.

Insider Buying and Selling at CoreCivic

In other CoreCivic news, EVP Cole G. Carter sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $12.58, for a total transaction of $100,640.00. Following the transaction, the executive vice president now owns 207,847 shares of the company’s stock, valued at $2,614,715.26. This trade represents a 3.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David Garfinkle sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $24.20, for a total value of $1,210,000.00. Following the completion of the sale, the chief financial officer now owns 276,528 shares of the company’s stock, valued at $6,691,977.60. This trade represents a 15.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,000 shares of company stock worth $1,550,640 in the last ninety days. 1.89% of the stock is owned by insiders.

Institutional Investors Weigh In On CoreCivic

Several institutional investors and hedge funds have recently bought and sold shares of CXW. SG Americas Securities LLC bought a new position in shares of CoreCivic during the first quarter valued at approximately $140,000. ProShare Advisors LLC increased its position in CoreCivic by 7.4% in the first quarter. ProShare Advisors LLC now owns 22,927 shares of the real estate investment trust’s stock worth $358,000 after buying an additional 1,578 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in CoreCivic by 3.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 67,663 shares of the real estate investment trust’s stock valued at $1,056,000 after buying an additional 1,954 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of CoreCivic by 8.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 103,894 shares of the real estate investment trust’s stock valued at $1,619,000 after acquiring an additional 7,828 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in shares of CoreCivic in the 1st quarter worth about $84,000. 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.