CoreCivic, Inc. (NYSE:CXW) Short Interest Up 7.3% in August

CoreCivic, Inc. (NYSE:CXW) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 4,560,000 shares, an increase of 7.3% from the August 15th total of 4,250,000 shares. Based on an average trading volume of 1,060,000 shares, the days-to-cover ratio is currently 4.3 days. Approximately 4.3% of the company’s shares are sold short.

CoreCivic Stock Up 1.3 %

Shares of NYSE CXW opened at $13.34 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 1.44. The company has a 50-day moving average price of $13.44 and a 200-day moving average price of $14.20. The stock has a market capitalization of $1.48 billion, a P/E ratio of 23.81 and a beta of 0.87. CoreCivic has a 1 year low of $10.11 and a 1 year high of $16.54.

CoreCivic (NYSE:CXW) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.20). The business had revenue of $490.11 million during the quarter, compared to the consensus estimate of $481.87 million. CoreCivic had a net margin of 3.50% and a return on equity of 6.10%. CoreCivic’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS. On average, equities research analysts forecast that CoreCivic will post 1.49 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider David K. Churchill sold 35,000 shares of CoreCivic stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $12.62, for a total value of $441,700.00. Following the completion of the transaction, the insider now directly owns 229,056 shares of the company’s stock, valued at approximately $2,890,686.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider David K. Churchill sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $12.62, for a total transaction of $441,700.00. Following the completion of the sale, the insider now owns 229,056 shares of the company’s stock, valued at approximately $2,890,686.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David K. Churchill sold 15,000 shares of CoreCivic stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $13.61, for a total transaction of $204,150.00. Following the completion of the sale, the insider now owns 214,056 shares of the company’s stock, valued at approximately $2,913,302.16. The disclosure for this sale can be found here. Insiders have sold a total of 161,996 shares of company stock valued at $2,077,000 over the last ninety days. 1.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new position in CoreCivic during the 2nd quarter valued at $29,000. nVerses Capital LLC bought a new position in shares of CoreCivic during the second quarter valued at about $40,000. EntryPoint Capital LLC bought a new position in shares of CoreCivic during the first quarter valued at about $84,000. Allspring Global Investments Holdings LLC purchased a new position in CoreCivic during the first quarter worth about $87,000. Finally, Innealta Capital LLC bought a new stake in CoreCivic in the 2nd quarter worth about $87,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Noble Financial lowered CoreCivic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Wedbush restated a “neutral” rating and set a $14.00 price objective on shares of CoreCivic in a report on Friday.

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.