CoreCivic, Inc. (NYSE:CXW – Get Free Report) saw a significant decrease in short interest in June. As of June 30th, there was short interest totaling 1,812,744 shares, a decrease of 35.4% from the June 15th total of 2,807,302 shares. Based on an average daily volume of 1,727,773 shares, the short-interest ratio is presently 1.0 days. Approximately 1.9% of the shares of the stock are sold short.
Wall Street Analysts Forecast Growth
CXW has been the subject of several research reports. Northland Securities set a $40.00 price objective on CoreCivic in a research report on Friday, June 26th. Weiss Ratings raised CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. UBS Group set a $35.00 price target on CoreCivic in a report on Tuesday, July 7th. Benchmark increased their price objective on CoreCivic from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, Noble Financial lifted their price objective on CoreCivic from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $36.20.
Read Our Latest Stock Analysis on CoreCivic
CoreCivic Stock Down 0.1%
Institutional Trading of CoreCivic
Hedge funds have recently added to or reduced their stakes in the business. Lee Danner & Bass Inc. boosted its holdings in shares of CoreCivic by 273.1% in the 1st quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust’s stock valued at $41,101,000 after purchasing an additional 1,590,940 shares during the last quarter. Rubric Capital Management LP raised its position in shares of CoreCivic by 140.6% in the 3rd quarter. Rubric Capital Management LP now owns 1,961,446 shares of the real estate investment trust’s stock worth $39,915,000 after buying an additional 1,146,166 shares during the period. Balyasny Asset Management L.P. raised its position in shares of CoreCivic by 361.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust’s stock worth $26,562,000 after buying an additional 987,375 shares during the period. Hatch Cove Capital LLC acquired a new position in CoreCivic in the fourth quarter valued at $12,951,000. Finally, Philosophy Capital Management LLC grew its position in CoreCivic by 144.9% during the third quarter. Philosophy Capital Management LLC now owns 1,021,373 shares of the real estate investment trust’s stock valued at $20,785,000 after acquiring an additional 604,311 shares during the period. 85.13% of the stock is owned by institutional investors and hedge funds.
About CoreCivic
CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.
CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.
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