CoreCivic (NYSE:CXW) Stock Price Down 4.6% – What’s Next?

CoreCivic, Inc. (NYSE:CXW)’s stock price dropped 4.6% during mid-day trading on Monday . The company traded as low as $19.76 and last traded at $21.30. Approximately 724,825 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 1,009,405 shares. The stock had previously closed at $22.33.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wedbush reissued a “neutral” rating and issued a $14.00 price objective on shares of CoreCivic in a research note on Friday, September 13th. Northland Securities boosted their price target on shares of CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th.

CoreCivic Stock Down 2.7 %

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.51 and a current ratio of 1.51. The business has a 50 day simple moving average of $16.36 and a 200-day simple moving average of $14.54. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 33.33 and a beta of 0.86.

Insider Buying and Selling at CoreCivic

In other news, CFO David Garfinkle sold 50,000 shares of the company’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 transaction, the chief financial officer now directly owns 276,528 shares in the company, valued at approximately $6,691,977.60. This represents a 15.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Anne L. Mariucci sold 10,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the sale, the director now owns 101,936 shares in the company, valued at $2,446,464. This represents a 8.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock worth $2,490,520 in the last ninety days. 1.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC lifted its holdings in CoreCivic by 2.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 29,509 shares of the real estate investment trust’s stock worth $383,000 after buying an additional 804 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in CoreCivic by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 79,592 shares of the real estate investment trust’s stock valued at $1,033,000 after acquiring an additional 998 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of CoreCivic by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 57,424 shares of the real estate investment trust’s stock worth $745,000 after purchasing an additional 1,401 shares in the last quarter. GAMMA Investing LLC raised its stake in CoreCivic by 77.7% in the third quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 1,632 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of CoreCivic by 13.7% during the 3rd quarter. HighTower Advisors LLC now owns 15,549 shares of the real estate investment trust’s stock worth $205,000 after acquiring an additional 1,877 shares in the last quarter. Hedge funds and other institutional investors 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.