CoreCivic (NYSE:CXW) Downgraded by Wedbush to Neutral

CoreCivic (NYSE:CXWGet Free Report) was downgraded by research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a report issued on Tuesday, Briefing.com reports. They currently have a $14.00 target price on the real estate investment trust’s stock, down from their prior target price of $19.00. Wedbush’s price objective suggests a potential downside of 5.28% from the company’s current price.

Several other research analysts also recently commented on the stock. StockNews.com downgraded shares of CoreCivic from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Northland Securities raised their price target on shares of CoreCivic from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th.

Get Our Latest Stock Report on CoreCivic

CoreCivic Trading Down 4.2 %

Shares of CXW opened at $14.78 on Tuesday. CoreCivic has a twelve month low of $9.02 and a twelve month high of $16.54. The company has a market cap of $1.64 billion, a P/E ratio of 26.39 and a beta of 0.87. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $15.34 and its 200-day simple moving average is $14.81.

CoreCivic (NYSE:CXWGet Free Report) last announced its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.12). CoreCivic had a net margin of 3.34% and a return on equity of 5.74%. The firm had revenue of $500.69 million during the quarter, compared to analysts’ expectations of $477.93 million. During the same period in the prior year, the company posted $0.34 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. As a group, analysts expect that CoreCivic will post 1.64 EPS for the current year.

Insider Buying and Selling

In related news, EVP Anthony L. Grande sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $15.51, for a total value of $232,650.00. Following the transaction, the executive vice president now owns 168,380 shares of the company’s stock, valued at approximately $2,611,573.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO David Garfinkle sold 19,900 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $15.18, for a total value of $302,082.00. Following the sale, the chief financial officer now directly owns 361,628 shares in the company, valued at approximately $5,489,513.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Anthony L. Grande sold 15,000 shares of CoreCivic stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $15.51, for a total transaction of $232,650.00. Following the completion of the sale, the executive vice president now owns 168,380 shares of the company’s stock, valued at $2,611,573.80. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by insiders.

Institutional Trading of CoreCivic

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new stake in CoreCivic in the 4th quarter worth approximately $29,000. Criterion Capital Advisors LLC purchased a new position in CoreCivic during the 4th quarter worth approximately $32,000. USA Financial Formulas purchased a new position in CoreCivic during the 4th quarter worth approximately $69,000. EntryPoint Capital LLC purchased a new position in CoreCivic during the 1st quarter worth approximately $84,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in CoreCivic during the 1st quarter worth approximately $87,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.

About CoreCivic

(Get Free Report)

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.

Further Reading

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