CoreCivic Target of Unusually High Options Trading (NYSE:CXW)

CoreCivic, Inc. (NYSE:CXW) saw unusually large options trading activity on Monday. Traders acquired 10,780 call options on the company. This represents an increase of approximately 241% compared to the average volume of 3,163 call options.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CXW. Royal Bank of Canada increased its holdings in CoreCivic by 49.2% in the 1st quarter. Royal Bank of Canada now owns 59,523 shares of the real estate investment trust’s stock worth $1,207,000 after acquiring an additional 19,630 shares during the last quarter. AQR Capital Management LLC lifted its holdings in CoreCivic by 69.8% during the first quarter. AQR Capital Management LLC now owns 28,120 shares of the real estate investment trust’s stock valued at $571,000 after purchasing an additional 11,557 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in CoreCivic by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,828 shares of the real estate investment trust’s stock worth $1,315,000 after purchasing an additional 2,828 shares during the period. Jones Financial Companies Lllp boosted its position in CoreCivic by 3,884.2% during the first quarter. Jones Financial Companies Lllp now owns 18,885 shares of the real estate investment trust’s stock worth $383,000 after purchasing an additional 18,411 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in CoreCivic by 2.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,467 shares of the real estate investment trust’s stock worth $4,473,000 after purchasing an additional 4,977 shares during the period. Hedge funds and other institutional investors own 85.13% of the company’s stock.

CoreCivic Stock Performance

Shares of NYSE:CXW traded down $1.01 during mid-day trading on Monday, reaching $30.02. The company had a trading volume of 942,594 shares, compared to its average volume of 1,160,052. CoreCivic has a one year low of $15.73 and a one year high of $32.60. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $24.11 and its 200-day moving average price is $20.89. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 24.43 and a beta of 0.57.

Wall Street Analysts Forecast Growth

CXW has been the topic of several analyst reports. Weiss Ratings raised CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Northland Securities set a $40.00 price target on CoreCivic in a research report on Friday, June 26th. Wall Street Zen lowered shares of CoreCivic from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Benchmark lifted their target price on shares of CoreCivic from $28.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, CoreCivic presently has an average rating of “Buy” and a consensus target price of $35.33.

CoreCivic Company Profile

CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.