Short Interest in CoreCivic, Inc. (NYSE:CXW) Declines By 6.6%

CoreCivic, Inc. (NYSE:CXW) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 3,250,000 shares, a decline of 6.6% from the October 15th total of 3,480,000 shares. Based on an average trading volume of 1,110,000 shares, the short-interest ratio is currently 2.9 days. Currently, 3.0% of the company’s shares are short sold.

CoreCivic Stock Performance

Shares of CXW opened at $21.14 on Tuesday. CoreCivic has a 12-month low of $10.74 and a 12-month high of $24.99. 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 company has a 50-day moving average of $14.56 and a two-hundred day moving average of $14.07. The stock has a market cap of $2.33 billion, a P/E ratio of 31.55 and a beta of 0.86.

Insider Activity

In related news, insider David K. Churchill sold 15,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $13.61, for a total value of $204,150.00. Following the sale, the insider now owns 214,056 shares in the company, valued at approximately $2,913,302.16. The trade was a 6.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Garfinkle sold 25,000 shares of the 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 transaction, the chief financial officer now directly owns 326,528 shares in the company, valued at approximately $4,440,780.80. The trade was a 7.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,000 shares of company stock valued at $2,094,790. Company insiders own 2.21% of the company’s stock.

Institutional Trading of CoreCivic

Several institutional investors and hedge funds have recently made changes to their positions in the stock. River Road Asset Management LLC increased its stake in CoreCivic by 0.5% in the third 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 purchasing an additional 40,365 shares during the last quarter. FMR LLC increased its holdings in CoreCivic by 3.8% in the 3rd quarter. FMR LLC now owns 5,117,716 shares of the real estate investment trust’s stock valued at $64,739,000 after purchasing an additional 186,310 shares in the last quarter. State Street Corp lifted its position in CoreCivic by 0.4% during the 3rd quarter. State Street Corp now owns 4,200,268 shares of the real estate investment trust’s stock worth $53,133,000 after acquiring an additional 18,415 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of CoreCivic by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,570,005 shares of the real estate investment trust’s stock valued at $32,517,000 after purchasing an additional 18,410 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in CoreCivic by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,481,315 shares of the real estate investment trust’s stock worth $31,389,000 after buying an additional 35,591 shares in the last quarter. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wedbush reissued a “neutral” rating and set a $14.00 target price on shares of CoreCivic in a research report on Friday, September 13th. Northland Securities raised their price target on CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, November 8th.

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.