CoreCivic (NYSE:CXW) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

CoreCivic, Inc. (NYSE:CXW) 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 trading hands.

Wall Street Analysts Forecast Growth

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

CoreCivic Trading Down 3.9 %

The stock has a market cap of $2.43 billion, a PE 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. The stock has a fifty day moving average price of $21.41 and a 200 day moving average price of $16.16.

Insiders Place Their Bets

In other CoreCivic news, EVP Anthony L. Grande sold 26,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $22.18, for a total value of $576,680.00. Following the completion of the sale, the executive vice president now owns 127,380 shares of the company’s stock, valued at $2,825,288.40. This trade represents a 16.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Emkes sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $22.70, for a total value of $363,200.00. Following the transaction, the director now owns 149,264 shares of the company’s stock, valued at $3,388,292.80. This trade represents a 9.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 102,000 shares of company stock valued at $2,389,880 over the last three months. 1.89% of the stock is owned by company insiders.

Institutional Trading of CoreCivic

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC boosted its holdings in shares of CoreCivic by 1,740.4% in the third quarter. SG Americas Securities LLC now owns 295,131 shares of the real estate investment trust’s stock valued at $3,733,000 after purchasing an additional 279,095 shares during the period. Invenomic Capital Management LP raised its position in CoreCivic by 28.7% during the 3rd quarter. Invenomic Capital Management LP now owns 1,026,050 shares of the real estate investment trust’s stock valued at $12,980,000 after purchasing an additional 228,803 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of CoreCivic in the 3rd quarter worth $2,810,000. Weiss Asset Management LP increased its stake in shares of CoreCivic by 74.3% during the third quarter. Weiss Asset Management LP now owns 498,690 shares of the real estate investment trust’s stock valued at $6,308,000 after buying an additional 212,569 shares during the period. Finally, FMR LLC raised its holdings in shares of CoreCivic by 3.8% in the third quarter. FMR LLC now owns 5,117,716 shares of the real estate investment trust’s stock valued at $64,739,000 after acquiring an additional 186,310 shares in the last quarter. Hedge funds and other 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.