Corecivic Inc (NYSE:CXW) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 1,247,900 shares, a decline of 13.2% from the July 31st total of 1,437,000 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average trading volume of 935,000 shares, the days-to-cover ratio is currently 1.3 days.
In related news, Director Thurgood Marshall, Jr. sold 7,600 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $17.65, for a total transaction of $134,140.00. Following the transaction, the director now directly owns 32,057 shares in the company, valued at $565,806.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.24% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Advisory Services Network LLC raised its stake in Corecivic by 17.1% during the first quarter. Advisory Services Network LLC now owns 3,591 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 524 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Corecivic by 1.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 47,474 shares of the real estate investment trust’s stock worth $923,000 after purchasing an additional 581 shares during the period. Profund Advisors LLC raised its stake in Corecivic by 3.3% during the second quarter. Profund Advisors LLC now owns 19,875 shares of the real estate investment trust’s stock worth $413,000 after purchasing an additional 641 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Corecivic by 0.9% during the first quarter. Nomura Asset Management Co. Ltd. now owns 78,600 shares of the real estate investment trust’s stock worth $1,529,000 after purchasing an additional 700 shares during the period. Finally, Carroll Financial Associates Inc. raised its stake in Corecivic by 39.5% during the second quarter. Carroll Financial Associates Inc. now owns 3,010 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 853 shares during the period. 81.87% of the stock is currently owned by institutional investors.
CXW traded down $0.25 on Friday, reaching $17.81. 648,411 shares of the company’s stock were exchanged, compared to its average volume of 523,356. The stock has a market cap of $2.12 billion, a PE ratio of 7.71 and a beta of 1.03. Corecivic has a twelve month low of $15.56 and a twelve month high of $25.82. The stock’s fifty day moving average price is $17.16 and its 200-day moving average price is $19.78. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.58 and a quick ratio of 0.58.
Corecivic (NYSE:CXW) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Corecivic had a net margin of 9.39% and a return on equity of 13.50%. The company had revenue of $490.29 million for the quarter, compared to the consensus estimate of $483.78 million. During the same period in the previous year, the firm earned $0.57 earnings per share. Corecivic’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, research analysts predict that Corecivic will post 2.6 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 9.88%. The ex-dividend date of this dividend is Monday, September 30th. Corecivic’s dividend payout ratio (DPR) is presently 76.19%.
Corecivic Company Profile
CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.
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