Insider Selling: CoreCivic, Inc. (NYSE:CXW) CEO Sells 31,996 Shares of Stock

CoreCivic, Inc. (NYSE:CXW) CEO Damon T. Hininger sold 31,996 shares of CoreCivic stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 of the company’s stock, valued at $9,853,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

CoreCivic Stock Up 3.8 %

Shares of NYSE:CXW traded up $0.47 during trading on Wednesday, reaching $12.90. 1,166,071 shares of the stock were exchanged, compared to its average volume of 933,867. The stock has a fifty day moving average of $13.14 and a two-hundred day moving average of $14.40. CoreCivic, Inc. has a 1-year low of $9.94 and a 1-year high of $16.54. 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 firm has a market cap of $1.42 billion, a price-to-earnings ratio of 23.04 and a beta of 0.87.

CoreCivic (NYSE:CXW) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.20). The business had revenue of $490.11 million for the quarter, compared to analyst estimates of $481.87 million. CoreCivic had a return on equity of 6.10% and a net margin of 3.50%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 EPS. Research analysts anticipate that CoreCivic, Inc. will post 1.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CoreCivic

Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of CoreCivic by 1,050.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,138,544 shares of the real estate investment trust’s stock valued at $45,603,000 after purchasing an additional 2,865,763 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in CoreCivic during the 2nd quarter valued at $6,818,000. Teacher Retirement System of Texas boosted its holdings in CoreCivic by 1,284.1% during the 4th quarter. Teacher Retirement System of Texas now owns 545,967 shares of the real estate investment trust’s stock worth $7,933,000 after acquiring an additional 506,522 shares during the last quarter. Courage Capital Management LLC bought a new stake in shares of CoreCivic in the 1st quarter worth $5,323,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of CoreCivic by 85.8% in the second quarter. Nisa Investment Advisors LLC now owns 400,896 shares of the real estate investment trust’s stock valued at $5,204,000 after purchasing an additional 185,075 shares during the last quarter. Institutional investors and hedge funds own 85.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com downgraded shares of CoreCivic from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. Wedbush reaffirmed a “neutral” rating and issued a $14.00 price target on shares of CoreCivic in a research note on Thursday, August 8th. Finally, Noble Financial lowered shares of CoreCivic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 12th.

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.