CoreCivic (NYSE:CXW) Downgraded to Hold Rating by Wall Street Zen

CoreCivic (NYSE:CXW) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

A number of other equities research analysts have also recently commented on CXW. Wedbush reaffirmed an “outperform” rating and set a $30.00 price objective on shares of CoreCivic in a research note on Tuesday, February 11th. Noble Financial upgraded CoreCivic from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 12th.

CoreCivic Trading Down 0.2%

CXW opened at $21.92 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $21.62 and a two-hundred day moving average price of $21.03. CoreCivic has a 1-year low of $10.74 and a 1-year high of $24.99. The stock has a market capitalization of $2.39 billion, a PE ratio of 35.93 and a beta of 0.79.

CoreCivic (NYSE:CXW) last issued its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.10. CoreCivic had a net margin of 3.51% and a return on equity of 5.97%. The company had revenue of $488.60 million for the quarter, compared to analyst estimates of $478.49 million. During the same quarter last year, the firm earned $0.46 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities analysts anticipate that CoreCivic will post 1.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Stacia Hylton sold 4,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $21.69, for a total transaction of $86,760.00. Following the completion of the sale, the director now directly owns 82,969 shares of the company’s stock, valued at approximately $1,799,597.61. This represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Damon T. Hininger sold 72,246 shares of the business’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $22.50, for a total transaction of $1,625,535.00. Following the completion of the sale, the chief executive officer now directly owns 879,324 shares in the company, valued at $19,784,790. This represents a 7.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,246 shares of company stock worth $4,061,215. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of CoreCivic in the 1st quarter valued at approximately $18,186,000. Millennium Management LLC boosted its stake in shares of CoreCivic by 88.4% in the fourth quarter. Millennium Management LLC now owns 1,261,944 shares of the real estate investment trust’s stock valued at $27,435,000 after buying an additional 592,070 shares during the period. Cooper Creek Partners Management LLC increased its position in shares of CoreCivic by 9.9% in the fourth quarter. Cooper Creek Partners Management LLC now owns 6,127,227 shares of the real estate investment trust’s stock worth $133,206,000 after purchasing an additional 553,336 shares during the period. Raymond James Financial Inc. bought a new position in CoreCivic in the 4th quarter valued at about $11,733,000. Finally, Nuveen LLC bought a new position in CoreCivic in the first quarter valued at approximately $10,629,000. 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.