CoreCivic, Inc. (NYSE:CXW) Short Interest Up 7.3% in August

CoreCivic, Inc. (NYSE:CXW) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 4,560,000 shares, a growth of 7.3% from the August 15th total of 4,250,000 shares. Based on an average daily volume of 1,060,000 shares, the days-to-cover ratio is presently 4.3 days. Approximately 4.3% of the shares of the company are short sold.

Insider Buying and Selling

In related news, insider David K. Churchill sold 15,000 shares of CoreCivic stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $13.61, for a total transaction of $204,150.00. Following the completion of the sale, the insider now owns 214,056 shares of the company’s stock, valued at $2,913,302.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other CoreCivic news, CFO David Garfinkle sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $13.60, for a total value of $340,000.00. Following the completion of the transaction, the chief financial officer now directly owns 326,528 shares of the company’s stock, valued at $4,440,780.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David K. Churchill sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $13.61, for a total value of $204,150.00. Following the completion of the transaction, the insider now directly owns 214,056 shares of the company’s stock, valued at $2,913,302.16. The disclosure for this sale can be found here. Insiders sold 161,996 shares of company stock valued at $2,077,000 over the last quarter. 1.89% of the stock is currently owned by company insiders.

Institutional Trading of CoreCivic

Large investors have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in shares of CoreCivic during the second quarter worth approximately $29,000. nVerses Capital LLC purchased a new stake in shares of CoreCivic during the second quarter worth approximately $40,000. EntryPoint Capital LLC purchased a new stake in shares of CoreCivic during the first quarter worth approximately $84,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of CoreCivic during the first quarter worth approximately $87,000. Finally, Innealta Capital LLC acquired a new position in CoreCivic during the second quarter worth $87,000. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

CoreCivic Price Performance

Shares of CoreCivic stock traded down $0.48 on Wednesday, reaching $12.88. The company’s stock had a trading volume of 1,256,821 shares, compared to its average volume of 922,726. The company has a market capitalization of $1.43 billion, a P/E ratio of 23.14 and a beta of 0.87. CoreCivic has a 52-week low of $10.11 and a 52-week high of $16.54. The stock has a 50-day moving average price of $13.44 and a 200-day moving average price of $14.19. 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 (NYSE:CXW) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.20). CoreCivic had a return on equity of 6.10% and a net margin of 3.50%. The firm had revenue of $490.11 million for the quarter, compared to analysts’ expectations of $481.87 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts expect that CoreCivic will post 1.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CXW. Wedbush reissued a “neutral” rating and issued a $14.00 price target on shares of CoreCivic in a report on Friday, September 13th. Noble Financial cut CoreCivic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 12th.

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.