Shares of Corecivic Inc (NYSE:CXW) shot up 9.8% during mid-day trading on Wednesday . The company traded as high as $10.16 and last traded at $11.12, 47,332 shares traded hands during mid-day trading. A decline of 97% from the average session volume of 1,835,458 shares. The stock had previously closed at $10.13.
A number of brokerages have recently issued reports on CXW. Citigroup began coverage on shares of Corecivic in a research note on Monday, March 16th. They issued an “outperform” rating and a $20.00 price objective for the company. They noted that the move was a valuation call. Noble Financial began coverage on shares of Corecivic in a research note on Monday, March 16th. They issued an “outperform” rating and a $20.00 price objective for the company. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $22.00.
The company has a market cap of $1.22 billion, a price-to-earnings ratio of 7.06 and a beta of 1.10. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.18 and a current ratio of 1.18. The business’s 50 day moving average price is $14.71 and its 200-day moving average price is $15.85.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 15.78%. The ex-dividend date is Tuesday, March 31st. Corecivic’s dividend payout ratio (DPR) is currently 67.18%.
Institutional investors have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. bought a new position in Corecivic during the 4th quarter worth approximately $254,000. State of Alaska Department of Revenue raised its holdings in Corecivic by 72.2% during the 4th quarter. State of Alaska Department of Revenue now owns 53,353 shares of the real estate investment trust’s stock worth $927,000 after buying an additional 22,373 shares during the period. 6 Meridian raised its holdings in Corecivic by 5.6% during the 4th quarter. 6 Meridian now owns 32,224 shares of the real estate investment trust’s stock worth $560,000 after buying an additional 1,718 shares during the period. Millennium Management LLC raised its holdings in Corecivic by 710.5% during the 3rd quarter. Millennium Management LLC now owns 693,367 shares of the real estate investment trust’s stock worth $11,981,000 after buying an additional 607,824 shares during the period. Finally, Squarepoint Ops LLC raised its holdings in Corecivic by 88.0% during the 3rd quarter. Squarepoint Ops LLC now owns 343,818 shares of the real estate investment trust’s stock worth $5,941,000 after buying an additional 160,972 shares during the period. Institutional investors and hedge funds own 78.25% of the company’s stock.
Corecivic Company Profile (NYSE:CXW)
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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