CoreCivic (NYSE:CXW) Stock Price Down 5.8% – Should You Sell?

CoreCivic, Inc. (NYSE:CXW)’s stock price was down 5.8% on Tuesday . The company traded as low as $20.03 and last traded at $19.66. Approximately 363,982 shares changed hands during trading, a decline of 65% from the average daily volume of 1,026,404 shares. The stock had previously closed at $20.87.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CXW shares. Northland Securities increased their price objective on CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Wedbush upgraded CoreCivic from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $19.00 to $30.00 in a report on Tuesday, December 10th.

CoreCivic Price Performance

The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average price of $21.82 and a two-hundred day moving average price of $16.99. The stock has a market capitalization of $2.29 billion, a P/E ratio of 30.99 and a beta of 1.01.

Insider Activity at CoreCivic

In other CoreCivic news, Director Anne L. Mariucci sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the transaction, the director now directly owns 101,936 shares of the company’s stock, valued at approximately $2,446,464. This trade represents a 8.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David Garfinkle sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $24.20, for a total value of $1,210,000.00. Following the completion of the transaction, the chief financial officer now directly owns 276,528 shares in the company, valued at $6,691,977.60. The trade was a 15.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 102,000 shares of company stock valued at $2,389,880 over the last ninety days. Insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of CoreCivic by 77.7% during the 3rd 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. KBC Group NV lifted its position in shares of CoreCivic by 57.3% during the 4th quarter. KBC Group NV now owns 5,477 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 1,995 shares in the last quarter. nVerses Capital LLC lifted its position in shares of CoreCivic by 177.4% during the 3rd quarter. nVerses Capital LLC now owns 8,600 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 5,500 shares in the last quarter. Caprock Group LLC purchased a new position in shares of CoreCivic during the 4th quarter valued at about $220,000. Finally, Chesapeake Capital Corp IL purchased a new position in shares of CoreCivic during the 3rd quarter valued at about $139,000. 85.13% of the stock is owned by hedge funds and other 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.