CoreCivic, Inc. (NYSE:CXW) Sees Significant Decrease in Short Interest

CoreCivic, Inc. (NYSE:CXW) was the target of a large drop in short interest in October. As of October 15th, there was short interest totalling 3,480,000 shares, a drop of 14.9% from the September 30th total of 4,090,000 shares. Based on an average daily volume of 873,000 shares, the short-interest ratio is currently 4.0 days. Approximately 3.2% of the shares of the stock are short sold.

CoreCivic Price Performance

NYSE:CXW traded down $0.47 during trading hours on Thursday, reaching $13.85. 198,632 shares of the company were exchanged, compared to its average volume of 907,998. The business has a 50 day moving average of $13.26 and a 200 day moving average of $13.75. The company has a market capitalization of $1.53 billion, a P/E ratio of 23.88 and a beta of 0.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 1.44. CoreCivic has a 1-year low of $10.74 and a 1-year high of $16.54.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.20). CoreCivic had a return on equity of 6.10% and a net margin of 3.50%. The business had revenue of $490.11 million for the quarter, compared to analyst estimates of $481.87 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Research analysts forecast that CoreCivic will post 1.49 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wedbush restated a “neutral” rating and issued a $14.00 price objective on shares of CoreCivic in a research note on Friday, September 13th.

Insider Transactions at CoreCivic

In other CoreCivic news, CEO Damon T. Hininger sold 31,996 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $12.50, for a total transaction of $399,950.00. Following the transaction, the chief executive officer now owns 788,266 shares in the company, valued at $9,853,325. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Lucibeth Mayberry sold 40,000 shares of CoreCivic stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $12.63, for a total value of $505,200.00. Following the transaction, the executive vice president now owns 223,733 shares of the company’s stock, valued at $2,825,747.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Damon T. Hininger sold 31,996 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $12.50, for a total transaction of $399,950.00. Following the completion of the sale, the chief executive officer now directly owns 788,266 shares of the company’s stock, valued at $9,853,325. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 169,996 shares of company stock valued at $2,177,640 in the last ninety days. Corporate insiders own 2.21% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Lee Danner & Bass Inc. purchased a new position in shares of CoreCivic during the second quarter valued at approximately $6,818,000. Courage Capital Management LLC purchased a new position in CoreCivic during the first quarter valued at approximately $5,323,000. SG Americas Securities LLC raised its stake in CoreCivic by 1,740.4% during the 3rd quarter. SG Americas Securities LLC now owns 295,131 shares of the real estate investment trust’s stock valued at $3,733,000 after purchasing an additional 279,095 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of CoreCivic by 85.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 400,896 shares of the real estate investment trust’s stock valued at $5,204,000 after purchasing an additional 185,075 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in CoreCivic by 102.2% during the 2nd quarter. Marshall Wace LLP now owns 213,880 shares of the real estate investment trust’s stock valued at $2,776,000 after buying an additional 108,079 shares in the last quarter. 85.13% of the stock is owned by institutional investors.

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.