CoreCivic (NYSE:CXW) Given “Outperform” Rating at Wedbush

CoreCivic (NYSE:CXW)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a report released on Tuesday,RTT News reports. They currently have a $30.00 target price on the real estate investment trust’s stock. Wedbush’s target price points to a potential upside of 65.88% from the stock’s current price.

Separately, Northland Securities increased their target price on shares of CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

CoreCivic Trading Down 4.0 %

Shares of CoreCivic stock traded down $0.76 on Tuesday, hitting $18.09. 4,415,033 shares of the company traded hands, compared to its average volume of 1,277,212. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.99 billion, a PE ratio of 26.99 and a beta of 1.00. The stock’s 50 day moving average price is $21.35 and its 200-day moving average price is $17.28. CoreCivic has a 52 week low of $10.74 and a 52 week high of $24.99.

CoreCivic (NYSE:CXW) last released its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.06. CoreCivic had a return on equity of 6.55% and a net margin of 3.85%. Equities research analysts predict that CoreCivic will post 1.64 EPS for the current year.

Insider Transactions at CoreCivic

In other news, EVP Anthony L. Grande sold 26,000 shares of CoreCivic stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $22.18, for a total value of $576,680.00. Following the sale, the executive vice president now owns 127,380 shares in the company, valued at $2,825,288.40. This trade represents a 16.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Emkes sold 16,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $22.70, for a total transaction of $363,200.00. Following the completion of the transaction, the director now directly owns 149,264 shares in the company, valued at $3,388,292.80. This represents a 9.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.89% of the company’s stock.

Hedge Funds Weigh In On CoreCivic

Several hedge funds and other institutional investors have recently modified their holdings of CXW. The Manufacturers Life Insurance Company lifted its position 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 buying an additional 1,401 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of CoreCivic by 77.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 1,632 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of CoreCivic by 25.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 55,862 shares of the real estate investment trust’s stock valued at $707,000 after acquiring an additional 11,332 shares during the last quarter. nVerses Capital LLC grew its holdings in shares of CoreCivic by 177.4% in the third quarter. nVerses Capital LLC now owns 8,600 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 5,500 shares during the period. Finally, abrdn plc increased its position in CoreCivic by 8.7% during the third quarter. abrdn plc now owns 1,031,400 shares of the real estate investment trust’s stock worth $13,047,000 after purchasing an additional 82,500 shares during the last quarter. 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.