Corecivic Inc (NYSE:CXW) Director Mark A. Emkes acquired 5,000 shares of the company’s stock in a transaction on Friday, March 2nd. The shares were bought at an average price of $21.17 per share, for a total transaction of $105,850.00. Following the completion of the purchase, the director now owns 56,488 shares in the company, valued at approximately $1,195,850.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Corecivic Inc (NYSE CXW) opened at $21.71 on Wednesday. The company has a market capitalization of $2,516.57, a price-to-earnings ratio of 9.14, a PEG ratio of 1.59 and a beta of 0.91. Corecivic Inc has a 52 week low of $19.59 and a 52 week high of $35.10. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.13 and a current ratio of 1.13.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.92%. This is a boost from Corecivic’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, March 29th. Corecivic’s payout ratio is presently 112.00%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Corecivic by 0.9% during the 4th quarter. BlackRock Inc. now owns 10,766,519 shares of the real estate investment trust’s stock worth $242,247,000 after purchasing an additional 95,372 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Corecivic by 4.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,140,892 shares of the real estate investment trust’s stock worth $57,312,000 after purchasing an additional 92,348 shares during the period. Renaissance Technologies LLC increased its holdings in Corecivic by 23.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,763,703 shares of the real estate investment trust’s stock worth $39,683,000 after acquiring an additional 337,600 shares during the last quarter. Geode Capital Management LLC increased its holdings in Corecivic by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 1,755,764 shares of the real estate investment trust’s stock worth $39,504,000 after acquiring an additional 76,114 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in Corecivic by 13.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,451,950 shares of the real estate investment trust’s stock worth $32,669,000 after acquiring an additional 176,175 shares during the last quarter. Institutional investors own 79.84% of the company’s stock.
Several equities analysts have weighed in on CXW shares. Zacks Investment Research upgraded Corecivic from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Monday, December 4th. SunTrust Banks reiterated a “buy” rating and set a $37.00 target price on shares of Corecivic in a research note on Friday, November 10th. Deutsche Bank lowered their target price on Corecivic from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Finally, ValuEngine cut Corecivic from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Corecivic presently has an average rating of “Hold” and a consensus price target of $32.75.
Corecivic Company Profile
CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.