CoreCivic (NYSE:CXW) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

CoreCivic, Inc. (NYSE:CXW) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.05 and traded as high as $22.99. CoreCivic shares last traded at $22.08, with a volume of 992,751 shares.

Analysts Set New Price Targets

Several research firms have recently issued reports on CXW. Northland Securities upped their price target on CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Wedbush upgraded CoreCivic from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $19.00 to $30.00 in a research note on Tuesday, December 10th.

CoreCivic Stock Performance

The firm has a 50 day moving average of $21.23 and a two-hundred day moving average of $16.05. The stock has a market cap of $2.43 billion, a P/E ratio of 32.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.51 and a current ratio of 1.51.

Insider Activity at CoreCivic

In other CoreCivic news, CFO David Garfinkle sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.20, for a total value of $1,210,000.00. Following the completion of the sale, the chief financial officer now owns 276,528 shares in the company, valued at approximately $6,691,977.60. This trade represents a 15.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Emkes sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $22.70, for a total value of $363,200.00. Following the completion of the sale, the director now owns 149,264 shares of the company’s stock, valued at $3,388,292.80. This represents a 9.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 102,000 shares of company stock worth $2,389,880 in the last 90 days. 2.21% of the stock is owned by company insiders.

Institutional Trading of CoreCivic

Hedge funds have recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in shares of CoreCivic in the 2nd quarter worth approximately $29,000. GAMMA Investing LLC lifted its position in shares of CoreCivic by 77.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 1,632 shares during the period. nVerses Capital LLC raised its holdings in shares of CoreCivic by 177.4% in the 3rd quarter. nVerses Capital LLC now owns 8,600 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 5,500 shares in the last quarter. Chesapeake Capital Corp IL acquired a new position in shares of CoreCivic in the 3rd quarter worth approximately $139,000. Finally, Tidal Investments LLC acquired a new position in shares of CoreCivic in the 3rd quarter worth approximately $139,000. Institutional investors own 85.13% of the company’s stock.

CoreCivic Company Profile

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.