CoreCivic (NYSE:CXW) Shares Down 4.6% – Should You Sell?

Shares of CoreCivic, Inc. (NYSE:CXW) fell 4.6% during trading on Monday . The company traded as low as $19.76 and last traded at $21.30. 724,825 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 1,009,405 shares. The stock had previously closed at $22.33.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CXW. Wedbush reaffirmed a “neutral” rating and issued a $14.00 price target on shares of CoreCivic in a report on Friday, September 13th. Northland Securities increased 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.

CoreCivic Stock Down 1.5 %

The business has a 50-day simple moving average of $16.70 and a two-hundred day simple moving average of $14.63. 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 company has a market cap of $2.35 billion, a price-to-earnings ratio of 31.82 and a beta of 1.02.

Insider Buying and Selling

In other news, EVP Anthony L. Grande sold 26,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $22.18, for a total value of $576,680.00. Following the completion of the sale, the executive vice president now directly owns 127,380 shares of the company’s stock, valued at $2,825,288.40. This represents a 16.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Cole G. Carter sold 8,000 shares of CoreCivic stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $12.58, for a total transaction of $100,640.00. Following the completion of the transaction, the executive vice president now directly owns 207,847 shares in the company, valued at approximately $2,614,715.26. The trade was a 3.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock valued at $2,490,520 over the last ninety days. 2.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On CoreCivic

Institutional investors have recently added to or reduced their stakes in the company. River Road Asset Management LLC increased its position in CoreCivic by 0.5% during the 3rd quarter. River Road Asset Management LLC now owns 8,611,640 shares of the real estate investment trust’s stock worth $108,937,000 after buying an additional 40,365 shares during the period. Algert Global LLC increased its stake in CoreCivic by 348.2% during the 3rd quarter. Algert Global LLC now owns 50,883 shares of the real estate investment trust’s stock worth $644,000 after acquiring an additional 39,530 shares during the period. Nisa Investment Advisors LLC raised its holdings in CoreCivic by 85.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 400,896 shares of the real estate investment trust’s stock valued at $5,204,000 after acquiring an additional 185,075 shares in the last quarter. Resolute Capital Asset Partners LLC bought a new stake in shares of CoreCivic during the 2nd quarter valued at $649,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of CoreCivic during the 2nd quarter worth $1,115,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.

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.