CoreCivic (NYSE:CXW) Stock Rating Reaffirmed by Wedbush

CoreCivic (NYSE:CXW)‘s stock had its “neutral” rating reissued by equities research analysts at Wedbush in a research note issued to investors on Friday, Benzinga reports. They presently have a $14.00 target price on the real estate investment trust’s stock. Wedbush’s target price suggests a potential upside of 6.38% from the company’s current price.

Separately, Noble Financial downgraded shares of CoreCivic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 12th.

CoreCivic Price Performance

Shares of NYSE CXW opened at $13.16 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.44 and a current ratio of 1.44. CoreCivic has a fifty-two week low of $10.11 and a fifty-two week high of $16.54. The stock has a market cap of $1.45 billion, a PE ratio of 23.50 and a beta of 0.87. The stock has a fifty day moving average of $13.44 and a 200-day moving average of $14.22.

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

Insider Buying and Selling

In other CoreCivic news, insider David K. Churchill sold 35,000 shares of CoreCivic stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $12.62, for a total transaction of $441,700.00. Following the completion of the sale, the insider now directly owns 229,056 shares in the company, valued at $2,890,686.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other CoreCivic news, insider David K. Churchill sold 35,000 shares of CoreCivic stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $12.62, for a total transaction of $441,700.00. Following the completion of the sale, the insider now owns 229,056 shares of the company’s stock, valued at $2,890,686.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Patrick D. Swindle sold 15,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $12.40, for a total value of $186,000.00. Following the completion of the transaction, the chief operating officer now owns 203,504 shares of the company’s stock, valued at $2,523,449.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 161,996 shares of company stock worth $2,077,000. Insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its holdings in shares of CoreCivic by 1,050.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,138,544 shares of the real estate investment trust’s stock valued at $45,603,000 after purchasing an additional 2,865,763 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of CoreCivic in the second quarter worth about $6,818,000. Courage Capital Management LLC purchased a new position in shares of CoreCivic in the first quarter worth about $5,323,000. Nisa Investment Advisors LLC lifted its stake in shares of CoreCivic by 85.8% in 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 acquiring an additional 185,075 shares during the last quarter. Finally, Trexquant Investment LP boosted its holdings in CoreCivic by 173.5% during the 4th quarter. Trexquant Investment LP now owns 192,456 shares of the real estate investment trust’s stock valued at $2,796,000 after acquiring an additional 122,096 shares during the period. 85.13% of the stock is owned by hedge funds and other 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.