CoreCivic (NYSE:CXW) Shares Gap Up – Here’s What Happened

CoreCivic, Inc. (NYSE:CXW)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $18.40, but opened at $19.12. CoreCivic shares last traded at $19.30, with a volume of 92,555 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Northland Securities upped their target price on shares of CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, November 8th. StockNews.com upgraded CoreCivic from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Noble Financial upgraded CoreCivic from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 12th. Finally, Wedbush restated an “outperform” rating and set a $30.00 target price on shares of CoreCivic in a research report on Tuesday, February 11th.

CoreCivic Trading Up 3.5 %

The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 31.21 and a beta of 1.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.57 and a quick ratio of 1.51. The business’s 50-day moving average price is $20.41 and its 200 day moving average price is $17.88.

CoreCivic (NYSE:CXW) last posted its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. CoreCivic had a return on equity of 5.97% and a net margin of 3.51%. On average, equities analysts forecast that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CXW. PharVision Advisers LLC acquired a new position in CoreCivic during the 4th quarter valued at about $879,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of CoreCivic by 11.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 215,490 shares of the real estate investment trust’s stock valued at $4,685,000 after acquiring an additional 22,031 shares during the period. Voloridge Investment Management LLC acquired a new position in CoreCivic in the 4th quarter worth approximately $11,194,000. Two Sigma Advisers LP grew its position in CoreCivic by 84.8% during the 4th quarter. Two Sigma Advisers LP now owns 329,946 shares of the real estate investment trust’s stock worth $7,173,000 after purchasing an additional 151,400 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of CoreCivic by 1,428.2% in the fourth quarter. Two Sigma Investments LP now owns 480,275 shares of the real estate investment trust’s stock valued at $10,441,000 after purchasing an additional 448,848 shares in the last quarter. Institutional investors own 85.13% of the company’s stock.

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.