CoreCivic, Inc. (NYSE:CXW) Short Interest Up 6.3% in July

CoreCivic, Inc. (NYSE:CXW) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 5,030,000 shares, a growth of 6.3% from the July 15th total of 4,730,000 shares. Based on an average daily volume of 1,030,000 shares, the days-to-cover ratio is presently 4.9 days. Approximately 4.6% of the shares of the company are short sold.

Insider Activity at CoreCivic

In related news, insider David K. Churchill sold 35,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $12.62, for a total value of $441,700.00. Following the sale, the insider now owns 229,056 shares of the company’s stock, valued at approximately $2,890,686.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider David K. Churchill sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $12.62, for a total transaction of $441,700.00. Following the completion of the transaction, the insider now directly owns 229,056 shares in the company, valued at $2,890,686.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Damon T. Hininger sold 31,996 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $12.50, for a total value of $399,950.00. Following the completion of the sale, the chief executive officer now owns 788,266 shares in the company, valued at $9,853,325. The disclosure for this sale can be found here. Insiders sold 156,896 shares of company stock worth $2,067,582 in the last 90 days. 1.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in shares of CoreCivic in the fourth quarter worth $29,000. Headlands Technologies LLC purchased a new position in CoreCivic during the 2nd quarter valued at about $29,000. Criterion Capital Advisors LLC acquired a new position in shares of CoreCivic in the 4th quarter valued at about $32,000. nVerses Capital LLC purchased a new stake in shares of CoreCivic in the second quarter worth approximately $40,000. Finally, USA Financial Formulas purchased a new position in CoreCivic during the fourth quarter valued at approximately $69,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.

CoreCivic Price Performance

Shares of NYSE:CXW traded down $0.06 on Friday, reaching $12.72. 726,988 shares of the company traded hands, compared to its average volume of 902,768. The stock has a market capitalization of $1.40 billion, a PE ratio of 22.71 and a beta of 0.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 1.44. The company’s 50 day moving average is $13.03 and its 200-day moving average is $14.38. CoreCivic has a fifty-two week low of $9.94 and a fifty-two week high of $16.54.

CoreCivic (NYSE:CXW) last announced its 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 net margin of 3.50% and a return on equity of 6.10%. The company had revenue of $490.11 million for the quarter, compared to analysts’ expectations of $481.87 million. During the same period in the prior year, the company earned $0.33 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, analysts anticipate that CoreCivic will post 1.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CXW shares. StockNews.com lowered shares of CoreCivic from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. Noble Financial cut CoreCivic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 12th. Finally, Wedbush reiterated a “neutral” rating and set a $14.00 price target on shares of CoreCivic in a research report on Thursday, August 8th.

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.