CoreCivic (NYSE:CXW) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of CoreCivic (NYSE:CXW) from a buy rating to a hold rating in a report issued on Monday morning.

Several other analysts have also recently issued reports on the company. Wedbush increased their target price on CoreCivic from $18.00 to $19.00 and gave the stock an outperform rating in a research report on Monday, April 8th. Northland Securities lifted their price objective on shares of CoreCivic from $17.00 to $19.00 and gave the company an outperform rating in a research report on Tuesday, March 26th.

CoreCivic Trading Up 0.3 %

Shares of NYSE:CXW opened at $15.10 on Monday. The stock has a 50 day moving average of $15.10 and a 200 day moving average of $14.28. The company has a market cap of $1.69 billion, a PE ratio of 25.59 and a beta of 0.81. CoreCivic has a 12-month low of $7.84 and a 12-month high of $16.24. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.73.

CoreCivic (NYSE:CXW) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.17). CoreCivic had a net margin of 3.56% and a return on equity of 4.70%. The firm had revenue of $491.25 million for the quarter, compared to the consensus estimate of $489.62 million. As a group, equities research analysts expect that CoreCivic will post 1.31 EPS for the current year.

Insider Buying and Selling

In other CoreCivic news, CEO Damon T. Hininger sold 50,525 shares of CoreCivic stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $14.62, for a total value of $738,675.50. Following the sale, the chief executive officer now owns 820,262 shares of the company’s stock, valued at approximately $11,992,230.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Anthony L. Grande sold 15,000 shares of CoreCivic stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $14.50, for a total value of $217,500.00. Following the completion of the transaction, the executive vice president now owns 186,692 shares in the company, valued at $2,707,034. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Damon T. Hininger sold 50,525 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $14.62, for a total value of $738,675.50. Following the sale, the chief executive officer now owns 820,262 shares in the company, valued at $11,992,230.44. The disclosure for this sale can be found here. 2.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On CoreCivic

Several large investors have recently modified their holdings of CXW. FMR LLC increased its position in CoreCivic by 0.6% during the third quarter. FMR LLC now owns 8,597,388 shares of the real estate investment trust’s stock valued at $96,721,000 after acquiring an additional 53,395 shares during the last quarter. Cooper Creek Partners Management LLC lifted its stake in CoreCivic by 24.2% in the third quarter. Cooper Creek Partners Management LLC now owns 3,297,002 shares of the real estate investment trust’s stock worth $37,091,000 after purchasing an additional 641,576 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of CoreCivic by 1,050.6% during the fourth 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 buying an additional 2,865,763 shares during the period. Boston Partners grew its stake in shares of CoreCivic by 13.7% during the third quarter. Boston Partners now owns 2,910,746 shares of the real estate investment trust’s stock valued at $33,343,000 after buying an additional 351,508 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of CoreCivic by 15.4% in the fourth quarter. Allianz Asset Management GmbH now owns 688,497 shares of the real estate investment trust’s stock worth $10,004,000 after buying an additional 92,112 shares during the period. 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.