CoreCivic (NYSE:CXW) Trading Up 7.9% – Here’s Why

CoreCivic, Inc. (NYSE:CXW) rose 7.9% on Wednesday . The stock traded as high as $20.12 and last traded at $20.20. Approximately 950,098 shares changed hands during trading, a decline of 28% from the average daily volume of 1,326,495 shares. The stock had previously closed at $18.73.

Wall Street Analyst Weigh In

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

CoreCivic Stock Performance

The firm has a market capitalization of $2.19 billion, a PE ratio of 33.03 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average of $20.20 and a 200 day moving average of $18.08.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in CoreCivic by 47.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 193,459 shares of the real estate investment trust’s stock worth $2,447,000 after acquiring an additional 62,022 shares during the last quarter. Barclays PLC grew its holdings in shares of CoreCivic by 312.4% in the third quarter. Barclays PLC now owns 184,332 shares of the real estate investment trust’s stock worth $2,331,000 after purchasing an additional 139,631 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in CoreCivic by 11.4% during the 4th quarter. Allianz Asset Management GmbH now owns 1,513,031 shares of the real estate investment trust’s stock valued at $32,893,000 after buying an additional 154,426 shares during the last quarter. Empowered Funds LLC bought a new stake in CoreCivic in the 4th quarter worth $1,477,000. Finally, Algert Global LLC raised its stake in shares of CoreCivic by 348.2% during the third quarter. Algert Global LLC now owns 50,883 shares of the real estate investment trust’s stock valued at $644,000 after acquiring an additional 39,530 shares during the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

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.