CoreCivic (NYSE:CXW) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of CoreCivic, Inc. (NYSE:CXW) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.76 and traded as high as $14.49. CoreCivic shares last traded at $14.45, with a volume of 1,008,245 shares traded.

Analysts Set New Price Targets

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

CoreCivic Stock Down 1.8 %

The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 24.34 and a beta of 0.87. The firm has a 50-day moving average of $13.26 and a 200 day moving average of $13.75. 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 (NYSE:CXW) last released its quarterly earnings data 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 net margin of 3.50% and a return on equity of 6.10%. The company had revenue of $490.11 million during the quarter, compared to analyst estimates of $481.87 million. During the same period in the previous year, the company posted $0.33 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts forecast that CoreCivic, Inc. will post 1.49 earnings per share for the current fiscal year.

Insider Activity

In other CoreCivic news, COO Patrick D. Swindle sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $12.40, for a total transaction of $186,000.00. Following the transaction, the chief operating officer now owns 203,504 shares of the company’s stock, valued at $2,523,449.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Lucibeth Mayberry sold 40,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $2,825,747.79. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Patrick D. Swindle sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were 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 directly owns 203,504 shares in the company, valued at $2,523,449.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 169,996 shares of company stock valued at $2,177,640. 2.21% of the stock is owned by company insiders.

Institutional Trading of CoreCivic

Several hedge funds have recently added to or reduced their stakes in CXW. Headlands Technologies LLC bought a new position in CoreCivic during the 2nd quarter worth $29,000. nVerses Capital LLC bought a new stake in CoreCivic in the 2nd quarter valued at about $40,000. GAMMA Investing LLC boosted its holdings in CoreCivic by 77.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 1,632 shares during the period. EntryPoint Capital LLC acquired a new position in shares of CoreCivic during the 1st quarter worth approximately $84,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of CoreCivic in the first quarter valued at approximately $87,000. 85.13% of the stock is owned by institutional investors and hedge funds.

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.