CoreCivic (NYSE:CXW) Stock Price Down 4.6% – Here’s Why

Shares of CoreCivic, Inc. (NYSE:CXW) traded down 4.6% during mid-day trading on Wednesday . The company traded as low as $22.30 and last traded at $21.88. 96,267 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 950,297 shares. The stock had previously closed at $22.94.

Analysts Set New Price Targets

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

CoreCivic Stock Performance

The business’s fifty day moving average price is $21.90 and its two-hundred day moving average price is $16.69. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.51 and a current ratio of 1.51. The stock has a market capitalization of $2.34 billion, a P/E ratio of 31.68 and a beta of 1.01.

Insider Activity

In other CoreCivic news, CFO David Garfinkle sold 50,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $24.20, for a total value of $1,210,000.00. Following the completion of the sale, the chief financial officer now directly owns 276,528 shares of the company’s stock, valued at $6,691,977.60. The trade was a 15.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Anthony L. Grande sold 26,000 shares of CoreCivic stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $22.18, for a total transaction of $576,680.00. Following the sale, the executive vice president now directly owns 127,380 shares of the company’s stock, valued at $2,825,288.40. This represents a 16.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,000 shares of company stock valued at $2,389,880. 1.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its holdings in CoreCivic by 1,740.4% in the third quarter. SG Americas Securities LLC now owns 295,131 shares of the real estate investment trust’s stock worth $3,733,000 after purchasing an additional 279,095 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of CoreCivic by 13,071.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 253,147 shares of the real estate investment trust’s stock worth $5,503,000 after buying an additional 251,225 shares during the last quarter. Invenomic Capital Management LP raised its stake in shares of CoreCivic by 28.7% during the 3rd quarter. Invenomic Capital Management LP now owns 1,026,050 shares of the real estate investment trust’s stock worth $12,980,000 after acquiring an additional 228,803 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in CoreCivic during the third quarter valued at approximately $2,810,000. Finally, Weiss Asset Management LP lifted its position in CoreCivic by 74.3% during the third quarter. Weiss Asset Management LP now owns 498,690 shares of the real estate investment trust’s stock valued at $6,308,000 after acquiring an additional 212,569 shares during the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

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.