CoreCivic (NYSE:CXW) Stock Price Down 5.8% – Here’s Why

CoreCivic, Inc. (NYSE:CXW)’s stock price dropped 5.8% during mid-day trading on Tuesday . The company traded as low as $20.03 and last traded at $19.66. Approximately 363,982 shares were traded during trading, a decline of 65% from the average daily volume of 1,026,404 shares. The stock had previously closed at $20.87.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CXW shares. Northland Securities increased their target price on CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Wedbush upgraded CoreCivic from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $19.00 to $30.00 in a research report on Tuesday, December 10th.

CoreCivic Price Performance

The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 30.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.51. The stock’s fifty day moving average price is $21.90 and its 200-day moving average price is $16.89.

Insider Activity

In other CoreCivic news, Director Anne L. Mariucci sold 10,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $24.00, for a total value of $240,000.00. Following the sale, the director now directly owns 101,936 shares in the company, valued at $2,446,464. This trade represents a 8.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Anthony L. Grande sold 26,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $22.18, for a total transaction of $576,680.00. Following the transaction, the executive vice president now directly owns 127,380 shares of the company’s stock, valued at $2,825,288.40. The trade was a 16.95 % decrease in their ownership of the stock. 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 three months. 1.89% of the stock is owned by insiders.

Hedge Funds Weigh In On CoreCivic

Hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of CoreCivic by 47.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 193,459 shares of the real estate investment trust’s stock valued at $2,447,000 after acquiring an additional 62,022 shares during the last quarter. Barclays PLC boosted its position in CoreCivic by 312.4% during the 3rd quarter. Barclays PLC now owns 184,332 shares of the real estate investment trust’s stock worth $2,331,000 after acquiring an additional 139,631 shares during the last quarter. River Road Asset Management LLC increased its stake in CoreCivic by 0.5% in the 3rd quarter. River Road Asset Management LLC now owns 8,611,640 shares of the real estate investment trust’s stock valued at $108,937,000 after buying an additional 40,365 shares during the last quarter. Algert Global LLC raised its holdings in CoreCivic by 348.2% during the third quarter. Algert Global LLC now owns 50,883 shares of the real estate investment trust’s stock worth $644,000 after acquiring an additional 39,530 shares in the last quarter. Finally, FMR LLC lifted its stake in CoreCivic by 3.8% in the 3rd quarter. FMR LLC now owns 5,117,716 shares of the real estate investment trust’s stock valued at $64,739,000 after purchasing an additional 186,310 shares during the last quarter. 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.