Insider Selling: Corrections Corp Of America EVP Sells 15,000 Shares of Stock (CXW)
Corrections Corp Of America (NYSE:CXW) EVP Anthony L. Grande unloaded 15,000 shares of the stock on the open market in a transaction dated Monday, May 19th. The stock was sold at an average price of $32.24, for a total value of $483,600.00. Following the completion of the transaction, the executive vice president now directly owns 101,760 shares of the company’s stock, valued at approximately $3,280,742. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Separately, analysts at Zacks upgraded shares of Corrections Corp Of America from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. They now have a $34.10 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Corrections Corp Of America currently has an average rating of “Hold” and an average price target of $28.82.
Corrections Corp Of America (NYSE:CXW) traded down 2.05% on Tuesday, hitting $31.53. The stock had a trading volume of 612,853 shares. Corrections Corp Of America has a one year low of $30.37 and a one year high of $39.36. The stock has a 50-day moving average of $32.37 and a 200-day moving average of $33.15. The company has a market cap of $3.669 billion and a price-to-earnings ratio of 21.72.
Corrections Corp Of America (NYSE:CXW) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $404.22 million for the quarter, compared to the consensus estimate of $412.89 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Analysts expect that Corrections Corp Of America will post $1.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date of this dividend is Monday, June 30th.
Corrections Corporation of America (NYSE:CXW) is a real estate investment trust.
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