CoreCivic (NYSE:CXW) Stock Price Down 1.9% Following Insider Selling

Shares of CoreCivic, Inc. (NYSE:CXW) fell 1.9% on Thursday after an insider sold shares in the company. The company traded as low as $12.60 and last traded at $12.65. 43,739 shares changed hands during trading, a decline of 95% from the average session volume of 928,204 shares. The stock had previously closed at $12.89.

Specifically, EVP Anthony L. Grande sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $15.51, for a total value of $232,650.00. Following the sale, the executive vice president now directly owns 168,380 shares in the company, valued at approximately $2,611,573.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Anthony L. Grande sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $15.51, for a total value of $232,650.00. Following the sale, the executive vice president now directly owns 168,380 shares in the company, valued at approximately $2,611,573.80. The transaction 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 business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $12.50, for a total transaction 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 have sold a total of 156,896 shares of company stock worth $2,067,582 in the last 90 days. 1.89% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

CoreCivic Stock Performance

The company has a market capitalization of $1.38 billion, a PE ratio of 23.04 and a beta of 0.87. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.70. The firm’s 50-day simple moving average is $13.14 and its 200-day simple moving average is $14.40.

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

Institutional Investors Weigh In On CoreCivic

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new stake in CoreCivic in the 4th quarter valued at about $29,000. Criterion Capital Advisors LLC purchased a new stake in shares of CoreCivic in the 4th quarter worth approximately $32,000. Headlands Technologies LLC bought a new position in shares of CoreCivic during the second quarter valued at approximately $29,000. nVerses Capital LLC bought a new position in shares of CoreCivic during the second quarter valued at approximately $40,000. Finally, USA Financial Formulas bought a new position in shares of CoreCivic during the fourth quarter valued at approximately $69,000. 85.13% of the stock is owned by hedge funds and other institutional investors.

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.