CoreCivic (NYSE:CXW) Upgraded by Noble Financial to “Outperform” Rating

Noble Financial upgraded shares of CoreCivic (NYSE:CXW) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports.

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

CoreCivic Trading Up 6.5 %

NYSE CXW opened at $19.22 on Wednesday. CoreCivic has a 52 week low of $10.74 and a 52 week high of $24.99. The firm has a 50 day moving average of $21.30 and a two-hundred day moving average of $17.29. 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 $2.12 billion, a PE ratio of 28.69 and a beta of 1.00.

CoreCivic (NYSE:CXW) last issued its 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 net margin of 3.85% and a return on equity of 6.55%. As a group, research analysts expect that CoreCivic will post 1.64 EPS for the current fiscal year.

Insider Activity

In other news, EVP Anthony L. Grande sold 26,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $22.18, for a total transaction of $576,680.00. Following the transaction, the executive vice president now directly owns 127,380 shares in the company, valued at approximately $2,825,288.40. This trade represents a 16.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark A. Emkes sold 16,000 shares of CoreCivic stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $22.70, for a total transaction of $363,200.00. Following the completion of the transaction, the director now directly owns 149,264 shares in the company, valued at $3,388,292.80. The trade was a 9.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.89% of the company’s stock.

Institutional Investors Weigh In On CoreCivic

Several hedge funds have recently made changes to their positions in CXW. GAMMA Investing LLC raised its stake in CoreCivic by 77.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 1,632 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of CoreCivic by 25.4% in the third quarter. Exchange Traded Concepts LLC now owns 55,862 shares of the real estate investment trust’s stock valued at $707,000 after purchasing an additional 11,332 shares during the period. nVerses Capital LLC raised its stake 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 purchasing an additional 5,500 shares during the last quarter. abrdn plc lifted its holdings in shares of CoreCivic by 8.7% during the third quarter. abrdn plc now owns 1,031,400 shares of the real estate investment trust’s stock worth $13,047,000 after purchasing an additional 82,500 shares during the period. Finally, River Road Asset Management LLC grew its position in CoreCivic by 0.5% in the 3rd quarter. River Road Asset Management LLC now owns 8,611,640 shares of the real estate investment trust’s stock valued at $108,937,000 after buying an additional 40,365 shares during the last quarter. Institutional investors and hedge funds 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.