CoreCivic (NYSE:CXW) Upgraded at StockNews.com

StockNews.com upgraded shares of CoreCivic (NYSE:CXW) from a hold rating to a buy rating in a research note released on Friday.

CXW has been the topic of a number of other research reports. Wedbush reiterated an “outperform” rating and set a $30.00 target price on shares of CoreCivic in a report on Tuesday, February 11th. Noble Financial raised CoreCivic from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 12th.

CoreCivic Stock Down 0.0%

CXW stock opened at $21.92 on Friday. CoreCivic has a fifty-two week low of $10.74 and a fifty-two week high of $24.99. The business’s 50 day moving average price is $21.18 and its two-hundred day moving average price is $20.81. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.51 and a current ratio of 1.57. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 35.93 and a beta of 0.79.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.10. CoreCivic had a return on equity of 5.97% and a net margin of 3.51%. The firm had revenue of $488.60 million for the quarter, compared to the consensus estimate of $478.49 million. During the same quarter in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, analysts forecast that CoreCivic will post 1.5 earnings per share for the current fiscal year.

Insider Activity at CoreCivic

In related news, EVP Lucibeth Mayberry sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $21.49, for a total value of $1,611,750.00. Following the transaction, the executive vice president now directly owns 211,232 shares of the company’s stock, valued at approximately $4,539,375.68. This represents a 26.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CoreCivic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new position in CoreCivic in the 4th quarter valued at approximately $43,000. Smartleaf Asset Management LLC lifted its position in CoreCivic by 318.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 1,859 shares in the last quarter. Copia Wealth Management bought a new position in shares of CoreCivic during the 4th quarter valued at $82,000. Russell Investments Group Ltd. lifted its holdings in shares of CoreCivic by 86,300.0% during the 4th quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 4,315 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of CoreCivic by 10.0% during the 1st quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 470 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.