Corrections Corp. of America (NYSE:CXW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “CoreCivic, Inc. is a real estate investment trust which provides correctional, detention and residential reentry facilities. It designs, constructs, owns, manages and renovates jails, prisons, government agencies and inmate transportation companies. CoreCivic, Inc., formerly known as Corrections Corporation of America, is based in Nashville, Tennessee. “

CXW has been the subject of a number of other research reports. Canaccord Genuity set a $36.00 target price on shares of Corrections Corp. of America and gave the company a “buy” rating in a research report on Friday, May 19th. Deutsche Bank AG increased their target price on shares of Corrections Corp. of America from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, May 15th. BidaskClub cut shares of Corrections Corp. of America from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Finally, ValuEngine raised shares of Corrections Corp. of America from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $31.50.

Corrections Corp. of America (NYSE:CXW) traded down 4.56% during trading on Monday, hitting $25.96. 1,573,561 shares of the stock traded hands. Corrections Corp. of America has a 12 month low of $12.99 and a 12 month high of $35.33. The firm has a 50-day moving average price of $28.12 and a 200 day moving average price of $30.81. The firm has a market cap of $3.07 billion, a PE ratio of 13.66 and a beta of 0.92. Corrections Corp. of America also was the recipient of unusually large options trading activity on Friday. Investors acquired 10,027 put options on the stock. This is an increase of approximately 1,764% compared to the typical volume of 538 put options.

Corrections Corp. of America (NYSE:CXW) last announced its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.23. Corrections Corp. of America had a net margin of 12.10% and a return on equity of 15.42%. The firm had revenue of $436.39 million during the quarter, compared to analysts’ expectations of $437.92 million. During the same quarter in the prior year, the company earned $0.49 EPS. The company’s revenue was down 5.8% compared to the same quarter last year. On average, equities analysts forecast that Corrections Corp. of America will post $1.53 EPS for the current fiscal year.

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In other Corrections Corp. of America news, EVP Anthony L. Grande sold 23,000 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $33.86, for a total value of $778,780.00. Following the completion of the transaction, the executive vice president now owns 39,510 shares of the company’s stock, valued at $1,337,808.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lucibeth Mayberry sold 6,236 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $30.41, for a total transaction of $189,636.76. Following the completion of the transaction, the executive vice president now directly owns 51,851 shares of the company’s stock, valued at approximately $1,576,788.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,236 shares of company stock valued at $1,121,117. Corporate insiders own 1.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Twin Capital Management Inc. boosted its position in Corrections Corp. of America by 17.5% in the second quarter. Twin Capital Management Inc. now owns 50,030 shares of the real estate investment trust’s stock worth $1,380,000 after buying an additional 7,450 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Corrections Corp. of America by 8.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 227,822 shares of the real estate investment trust’s stock worth $6,283,000 after buying an additional 18,370 shares in the last quarter. Blair William & Co. IL bought a new position in Corrections Corp. of America during the second quarter worth about $756,000. Comerica Bank boosted its position in Corrections Corp. of America by 1.1% in the second quarter. Comerica Bank now owns 93,629 shares of the real estate investment trust’s stock worth $2,668,000 after buying an additional 1,036 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Corrections Corp. of America by 10.1% in the second quarter. Legal & General Group Plc now owns 175,620 shares of the real estate investment trust’s stock worth $4,843,000 after buying an additional 16,051 shares in the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

Corrections Corp. of America Company Profile

CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.

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