CoreCivic (NYSE:CXW) Hits New 1-Year High – Should You Buy?

CoreCivic, Inc. (NYSE:CXW)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $18.01 and last traded at $17.45, with a volume of 662744 shares. The stock had previously closed at $13.63.

Analyst Ratings Changes

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

CoreCivic Stock Up 25.6 %

The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.70. The firm has a market cap of $2.43 billion, a P/E ratio of 36.80 and a beta of 0.86. The company has a fifty day simple moving average of $13.51 and a 200-day simple moving average of $13.79.

CoreCivic (NYSE:CXW) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.20). The firm had revenue of $490.11 million during the quarter, compared to the consensus estimate of $481.87 million. CoreCivic had a return on equity of 6.10% and a net margin of 3.50%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 EPS. On average, equities analysts anticipate that CoreCivic, Inc. will post 1.51 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Cole G. Carter sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $12.58, for a total transaction of $100,640.00. Following the completion of the transaction, the executive vice president now owns 207,847 shares in the company, valued at approximately $2,614,715.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Cole G. Carter sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $12.58, for a total value of $100,640.00. Following the sale, the executive vice president now directly owns 207,847 shares in the company, valued at approximately $2,614,715.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David K. Churchill sold 15,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $13.61, for a total value of $204,150.00. Following the transaction, the insider now directly owns 214,056 shares of the company’s stock, valued at approximately $2,913,302.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 169,996 shares of company stock valued at $2,177,640. Corporate insiders own 2.21% of the company’s stock.

Institutional Investors Weigh In On CoreCivic

A number of hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC bought a new stake in shares of CoreCivic in the 2nd quarter valued at approximately $29,000. nVerses Capital LLC purchased a new position in CoreCivic during the second quarter worth $40,000. GAMMA Investing LLC increased its position in CoreCivic by 77.7% during the third quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 1,632 shares during the last quarter. EntryPoint Capital LLC bought a new position in CoreCivic during the first quarter valued at $84,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of CoreCivic in the 1st quarter worth about $87,000. 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.