CoreCivic, Inc. (NYSE:CXW) Short Interest Down 6.6% in October

CoreCivic, Inc. (NYSE:CXW) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 3,250,000 shares, a drop of 6.6% from the October 15th total of 3,480,000 shares. Based on an average trading volume of 1,110,000 shares, the days-to-cover ratio is presently 2.9 days. Approximately 3.0% of the company’s shares are sold short.

CoreCivic Price Performance

Shares of NYSE CXW opened at $22.00 on Wednesday. The company has a fifty day moving average price of $14.90 and a 200 day moving average price of $14.16. The firm has a market cap of $2.43 billion, a PE ratio of 32.84 and a beta of 0.86. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.66. CoreCivic has a 1-year low of $10.74 and a 1-year high of $24.99.

Analyst Ratings Changes

CXW has been the subject of several recent analyst reports. Northland Securities increased their price target on CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Wedbush reissued a “neutral” rating and set a $14.00 target price on shares of CoreCivic in a research note on Friday, September 13th.

Insider Buying and Selling

In other news, CFO David Garfinkle sold 25,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $13.60, for a total value of $340,000.00. Following the completion of the transaction, the chief financial officer now owns 326,528 shares of the company’s stock, valued at $4,440,780.80. The trade was a 7.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David K. Churchill sold 15,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $13.61, for a total value of $204,150.00. Following the sale, the insider now directly owns 214,056 shares in the company, valued at $2,913,302.16. The trade was a 6.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,000 shares of company stock valued at $2,094,790 in the last 90 days. 2.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CXW. Commonwealth Equity Services LLC raised its position in CoreCivic by 2.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 29,509 shares of the real estate investment trust’s stock valued at $383,000 after buying an additional 804 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in shares of CoreCivic by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 79,592 shares of the real estate investment trust’s stock worth $1,033,000 after purchasing an additional 998 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in CoreCivic by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 57,424 shares of the real estate investment trust’s stock worth $745,000 after purchasing an additional 1,401 shares during the last quarter. ProShare Advisors LLC grew its position in CoreCivic by 7.4% in the first quarter. ProShare Advisors LLC now owns 22,927 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 1,578 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in CoreCivic by 77.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 1,632 shares during the last quarter. 85.13% of the stock is owned by institutional investors and hedge funds.

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.