Short Interest in CoreCivic, Inc. (NYSE:CXW) Decreases By 30.8%

CoreCivic, Inc. (NYSE:CXW) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 2,430,000 shares, a decline of 30.8% from the February 13th total of 3,510,000 shares. Currently, 2.3% of the company’s shares are short sold. Based on an average daily volume of 1,260,000 shares, the days-to-cover ratio is currently 1.9 days.

CoreCivic Price Performance

Shares of CoreCivic stock opened at $20.33 on Friday. 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 market cap of $2.21 billion, a PE ratio of 33.33 and a beta of 1.02. The business has a 50 day moving average of $20.10 and a 200 day moving average of $18.18. CoreCivic has a 52 week low of $10.74 and a 52 week high of $24.99.

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

Hedge Funds Weigh In On CoreCivic

A number of institutional investors have recently added to or reduced their stakes in CXW. Meeder Asset Management Inc. bought a new position in CoreCivic in the fourth quarter worth $43,000. Smartleaf Asset Management LLC raised its holdings in CoreCivic by 318.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 1,859 shares in the last quarter. Copia Wealth Management bought a new position in CoreCivic in the fourth quarter worth $82,000. Russell Investments Group Ltd. raised its holdings in CoreCivic by 86,300.0% in the fourth quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 4,315 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in CoreCivic by 25.5% in the fourth quarter. GAMMA Investing LLC now owns 4,686 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 953 shares in the last quarter. Institutional investors own 85.13% of the company’s stock.

Analyst Ratings Changes

CXW has been the subject of several recent research 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 CoreCivic from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 12th. Finally, StockNews.com upgraded CoreCivic from a “hold” rating to a “buy” rating in a research 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.