CoreCivic’s (CXW) Neutral Rating Reiterated at Wedbush

Wedbush reaffirmed their neutral rating on shares of CoreCivic (NYSE:CXW) in a research report report published on Friday, Benzinga reports. They currently have a $14.00 target price on the real estate investment trust’s stock.

Separately, Noble Financial lowered CoreCivic from a strong-buy rating to a hold rating in a research report on Wednesday, June 12th.

CoreCivic Price Performance

CXW stock opened at $13.16 on Friday. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 23.50 and a beta of 0.87. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.70. CoreCivic has a 52-week low of $10.11 and a 52-week high of $16.54. The stock’s fifty day simple moving average is $13.44 and its 200-day simple moving average is $14.22.

CoreCivic (NYSE:CXW) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.20). The business had revenue of $490.11 million during the quarter, compared to analyst estimates of $481.87 million. CoreCivic had a return on equity of 6.10% and a net margin of 3.50%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 earnings per share. Equities research analysts expect that CoreCivic will post 1.49 EPS for the current year.

Insider Transactions at CoreCivic

In other CoreCivic news, COO Patrick D. Swindle sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $12.40, for a total value of $186,000.00. Following the transaction, the chief operating officer now directly owns 203,504 shares of the company’s stock, valued at approximately $2,523,449.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Patrick D. Swindle sold 15,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $12.40, for a total transaction of $186,000.00. Following the transaction, the chief operating officer now owns 203,504 shares of the company’s stock, valued at $2,523,449.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lucibeth Mayberry sold 40,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $12.63, for a total value of $505,200.00. Following the completion of the sale, the executive vice president now directly owns 223,733 shares of the company’s stock, valued at $2,825,747.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 161,996 shares of company stock valued at $2,077,000. 1.89% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CoreCivic

Several institutional investors and hedge funds have recently made changes to their positions in the company. Courage Capital Management LLC raised its holdings in shares of CoreCivic by 15.4% during the second quarter. Courage Capital Management LLC now owns 393,491 shares of the real estate investment trust’s stock worth $5,108,000 after purchasing an additional 52,491 shares during the period. Algert Global LLC bought a new stake in shares of CoreCivic during the 2nd quarter valued at about $147,000. Susquehanna International Group Ltd. acquired a new stake in CoreCivic during the second quarter worth about $373,000. The Manufacturers Life Insurance Company lifted its holdings in CoreCivic by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 57,424 shares of the real estate investment trust’s stock worth $745,000 after acquiring an additional 1,401 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of CoreCivic by 102.2% during the second quarter. Marshall Wace LLP now owns 213,880 shares of the real estate investment trust’s stock valued at $2,776,000 after purchasing an additional 108,079 shares during the last quarter. 85.13% of the stock is owned by institutional investors and hedge funds.

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.