CoreCivic, Inc. (NYSE:CXW) Sees Large Drop in Short Interest

CoreCivic, Inc. (NYSE:CXW) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 2,430,000 shares, a decline of 30.8% from the February 13th total of 3,510,000 shares. Currently, 2.3% of the company’s stock are short sold. Based on an average daily volume of 1,260,000 shares, the days-to-cover ratio is presently 1.9 days.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com upgraded shares of CoreCivic from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Noble Financial raised shares of CoreCivic from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 12th. Finally, Wedbush reissued an “outperform” rating and issued a $30.00 price target on shares of CoreCivic in a research report on Tuesday, February 11th.

CoreCivic Stock Performance

Shares of CXW stock traded down $0.30 during trading hours on Monday, hitting $20.03. The stock had a trading volume of 1,012,324 shares, compared to its average volume of 1,033,232. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.57 and a quick ratio of 1.51. The firm has a market capitalization of $2.18 billion, a PE ratio of 32.83 and a beta of 1.02. The stock’s 50 day moving average is $20.10 and its 200 day moving average is $18.21. CoreCivic has a twelve month low of $10.74 and a twelve month high of $24.99.

CoreCivic (NYSE:CXW) last issued its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. CoreCivic had a net margin of 3.51% and a return on equity of 5.97%. As a group, research analysts forecast that CoreCivic will post 1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CoreCivic

A number of hedge funds and other institutional investors have recently made changes to their positions in CXW. Chesapeake Capital Corp IL purchased a new position in shares of CoreCivic in the 3rd quarter valued at approximately $139,000. Quest Partners LLC grew its position in CoreCivic by 24,217.1% in the 3rd quarter. Quest Partners LLC now owns 17,022 shares of the real estate investment trust’s stock valued at $215,000 after buying an additional 16,952 shares during the last quarter. Intech Investment Management LLC raised its position in CoreCivic by 485.4% during the 3rd quarter. Intech Investment Management LLC now owns 87,737 shares of the real estate investment trust’s stock worth $1,110,000 after buying an additional 72,750 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of CoreCivic by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,481,315 shares of the real estate investment trust’s stock worth $31,389,000 after acquiring an additional 35,591 shares during the period. Finally, Algert Global LLC boosted its holdings in shares of CoreCivic by 348.2% in the third quarter. Algert Global LLC now owns 50,883 shares of the real estate investment trust’s stock valued at $644,000 after acquiring an additional 39,530 shares in the last quarter. 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.