CoreCivic, Inc. (NYSE:CXW) Sees Large Growth in Short Interest

CoreCivic, Inc. (NYSE:CXW) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 3,430,000 shares, a growth of 5.5% from the October 31st total of 3,250,000 shares. Based on an average daily trading volume, of 1,210,000 shares, the short-interest ratio is presently 2.8 days. Approximately 3.2% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

CXW has been the topic of a number of research reports. Wedbush reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of CoreCivic in a research note on Friday, September 13th. Northland Securities raised their price objective on CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, November 8th.

Insiders Place Their Bets

In other news, EVP Cole G. Carter sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $12.58, for a total transaction of $100,640.00. Following the sale, the executive vice president now owns 207,847 shares of the company’s stock, valued at $2,614,715.26. This trade represents a 3.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anne L. Mariucci sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the transaction, the director now directly owns 101,936 shares of the company’s stock, valued at $2,446,464. The trade was a 8.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,000 shares of company stock valued at $2,490,520. Insiders own 2.21% of the company’s stock.

Hedge Funds Weigh In On CoreCivic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC purchased a new position in CoreCivic in the third quarter valued at $139,000. Virtu Financial LLC purchased a new stake in shares of CoreCivic in the third quarter valued at approximately $236,000. Geode Capital Management LLC grew its stake in CoreCivic by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,570,005 shares of the real estate investment trust’s stock valued at $32,517,000 after acquiring an additional 18,410 shares during the period. Barclays PLC raised its position in CoreCivic by 312.4% during the third quarter. Barclays PLC now owns 184,332 shares of the real estate investment trust’s stock worth $2,331,000 after acquiring an additional 139,631 shares during the period. Finally, National Bank of Canada FI lifted its holdings in CoreCivic by 22.5% during the third quarter. National Bank of Canada FI now owns 761,492 shares of the real estate investment trust’s stock valued at $9,633,000 after purchasing an additional 140,000 shares in the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

CoreCivic Trading Down 1.2 %

Shares of CoreCivic stock traded down $0.25 on Tuesday, hitting $21.39. 380,067 shares of the company traded hands, compared to its average volume of 1,011,826. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.66. CoreCivic has a 52 week low of $10.74 and a 52 week high of $24.99. The stock’s 50 day moving average price is $16.53 and its 200-day moving average price is $14.59. The company has a market cap of $2.36 billion, a PE ratio of 32.30 and a beta of 1.02.

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.