CoreCivic (NYSE:CXW) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

CoreCivic, Inc. (NYSE:CXW) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.05 and traded as high as $22.99. CoreCivic shares last traded at $22.08, with a volume of 992,751 shares changing hands.

Analysts Set New Price Targets

CXW has been the topic of several research reports. Wedbush upgraded shares of CoreCivic from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $19.00 to $30.00 in a report on Tuesday, December 10th. Northland Securities lifted their price objective on CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, November 8th.

CoreCivic Price Performance

The company has a market capitalization of $2.43 billion, a P/E ratio of 32.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.51. The firm’s 50-day moving average is $21.41 and its 200-day moving average is $16.16.

Insider Transactions at CoreCivic

In related news, Director Anne L. Mariucci sold 10,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the transaction, the director now owns 101,936 shares of the company’s stock, valued at approximately $2,446,464. This represents a 8.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David Garfinkle sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $24.20, for a total value of $1,210,000.00. Following the sale, the chief financial officer now directly owns 276,528 shares in the company, valued at approximately $6,691,977.60. This represents a 15.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,000 shares of company stock worth $2,389,880 in the last three months. Corporate insiders own 1.89% of the company’s stock.

Institutional Trading of CoreCivic

Several institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC bought a new position in CoreCivic in the 2nd quarter worth approximately $29,000. GAMMA Investing LLC boosted its position in shares of CoreCivic by 77.7% during the third 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 last quarter. nVerses Capital LLC boosted its position in shares of CoreCivic by 177.4% during the third quarter. nVerses Capital LLC now owns 8,600 shares of the real estate investment trust’s stock worth $109,000 after acquiring an additional 5,500 shares during the last quarter. Chesapeake Capital Corp IL purchased a new position in CoreCivic during the third quarter valued at $139,000. Finally, Tidal Investments LLC bought a new stake in CoreCivic in the 3rd quarter valued at $139,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

About CoreCivic

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.