CoreCivic (NYSE:CXW) Sees Unusually-High Trading Volume – Time to Buy?

CoreCivic, Inc. (NYSE:CXW) shares saw unusually-strong trading volume on Friday . Approximately 811,686 shares changed hands during mid-day trading, a decline of 19% from the previous session’s volume of 1,000,360 shares.The stock last traded at $22.70 and had previously closed at $21.80.

Analyst Ratings Changes

A number of equities analysts have issued reports on CXW shares. Wedbush restated a “neutral” rating and set a $14.00 target price on shares of CoreCivic in a research report on Friday, September 13th. Northland Securities upped their target price on CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, November 8th.

CoreCivic Stock Performance

The company has a market capitalization of $2.45 billion, a PE ratio of 33.40 and a beta of 0.86. The stock’s fifty day simple moving average is $15.25 and its 200-day simple moving average is $14.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.51 and a current ratio of 1.51.

Insider Buying and Selling

In related news, Director Anne L. Mariucci sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 101,936 shares in the company, valued at approximately $2,446,464. The trade was a 8.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Cole G. Carter sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $12.58, for a total transaction of $100,640.00. Following the transaction, the executive vice president now directly owns 207,847 shares in the company, valued at approximately $2,614,715.26. This represents a 3.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,000 shares of company stock worth $1,550,640. 1.89% of the stock is owned by insiders.

Institutional Investors Weigh In On CoreCivic

Institutional investors have recently added to or reduced their stakes in the company. River Road Asset Management LLC grew its holdings in shares of 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 period. FMR LLC grew its stake in CoreCivic by 3.8% during the third quarter. FMR LLC now owns 5,117,716 shares of the real estate investment trust’s stock worth $64,739,000 after buying an additional 186,310 shares during the period. State Street Corp increased its position in shares of CoreCivic by 0.4% in the third quarter. State Street Corp now owns 4,200,268 shares of the real estate investment trust’s stock worth $53,133,000 after acquiring an additional 18,415 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of CoreCivic by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,570,005 shares of the real estate investment trust’s stock valued at $32,517,000 after acquiring an additional 18,410 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in CoreCivic by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,481,315 shares of the real estate investment trust’s stock worth $31,389,000 after purchasing an additional 35,591 shares during the period. 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.