CoreCivic, Inc. (NYSE:CXW) Short Interest Update

CoreCivic, Inc. (NYSE:CXW) was the target of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 2,430,000 shares, a drop of 30.8% from the February 13th total of 3,510,000 shares. Currently, 2.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,260,000 shares, the days-to-cover ratio is presently 1.9 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Millennium Management LLC raised its stake in CoreCivic by 88.4% in the 4th quarter. Millennium Management LLC now owns 1,261,944 shares of the real estate investment trust’s stock valued at $27,435,000 after purchasing an additional 592,070 shares during the last quarter. Cooper Creek Partners Management LLC raised its position in shares of CoreCivic by 9.9% in the fourth quarter. Cooper Creek Partners Management LLC now owns 6,127,227 shares of the real estate investment trust’s stock valued at $133,206,000 after buying an additional 553,336 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of CoreCivic in the fourth quarter valued at approximately $11,733,000. Forest Avenue Capital Management LP purchased a new position in shares of CoreCivic during the fourth quarter valued at approximately $11,205,000. Finally, Voloridge Investment Management LLC acquired a new stake in CoreCivic during the fourth quarter worth approximately $11,194,000. 85.13% of the stock is owned by hedge funds and other institutional investors.

CoreCivic Price Performance

CXW traded down $0.30 during trading on Monday, reaching $20.03. 1,012,324 shares of the stock were exchanged, compared to its average volume of 1,033,232. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.57 and a quick ratio of 1.51. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 32.83 and a beta of 1.02. CoreCivic has a 1 year low of $10.74 and a 1 year high of $24.99. The business’s 50 day moving average price is $20.10 and its two-hundred day moving average price is $18.21.

CoreCivic (NYSE:CXW) last released its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $0.39 EPS for the quarter, topping the consensus estimate of $0.33 by $0.06. CoreCivic had a net margin of 3.51% and a return on equity of 5.97%. As a group, equities research analysts anticipate that CoreCivic will post 1.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CXW has been the topic of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of CoreCivic in a research report on Tuesday, February 11th. Noble Financial upgraded shares of CoreCivic from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 12th. Finally, StockNews.com raised shares of CoreCivic from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th.

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.