CoreCivic (NYSE:CXW) Stock Price Down 5.8% – Here’s What Happened

CoreCivic, Inc. (NYSE:CXW) fell 5.8% on Tuesday . The company traded as low as $20.03 and last traded at $19.66. 363,982 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 1,026,404 shares. The stock had previously closed at $20.87.

Analysts Set New Price Targets

Several equities analysts have issued reports on CXW shares. Wedbush raised shares of CoreCivic from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $19.00 to $30.00 in a report on Tuesday, December 10th. Northland Securities boosted their price objective on CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th.

CoreCivic Trading Down 3.5 %

The business’s 50-day moving average is $21.90 and its two-hundred day moving average is $16.89. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $2.22 billion, a PE ratio of 30.06 and a beta of 1.01.

Insider Activity at CoreCivic

In other CoreCivic news, Director Anne L. Mariucci sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the sale, the director now directly owns 101,936 shares of the company’s stock, valued at approximately $2,446,464. This trade represents a 8.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Garfinkle sold 50,000 shares of the business’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 of the company’s stock, valued at approximately $6,691,977.60. This trade represents a 15.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 102,000 shares of company stock worth $2,389,880 over the last 90 days. Company insiders own 1.89% of the company’s stock.

Institutional Investors Weigh In On CoreCivic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of CoreCivic by 47.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 193,459 shares of the real estate investment trust’s stock valued at $2,447,000 after acquiring an additional 62,022 shares in the last quarter. Barclays PLC grew its stake in CoreCivic by 312.4% during the 3rd quarter. Barclays PLC now owns 184,332 shares of the real estate investment trust’s stock valued at $2,331,000 after purchasing an additional 139,631 shares in the last quarter. River Road Asset Management LLC increased its holdings in CoreCivic by 0.5% during the 3rd quarter. River Road Asset Management LLC now owns 8,611,640 shares of the real estate investment trust’s stock worth $108,937,000 after purchasing an additional 40,365 shares during the last quarter. Algert Global LLC raised its position in shares of CoreCivic by 348.2% in the 3rd quarter. Algert Global LLC now owns 50,883 shares of the real estate investment trust’s stock valued at $644,000 after purchasing an additional 39,530 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of CoreCivic by 3.8% during the 3rd quarter. FMR LLC now owns 5,117,716 shares of the real estate investment trust’s stock valued at $64,739,000 after buying an additional 186,310 shares during the last quarter. 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.