An issue of Corrections Corp. of America (NYSE:CXW) bonds rose 2.8% as a percentage of their face value during trading on Thursday. The debt issue has a 5% coupon and will mature on October 15, 2022. The bonds in the issue are now trading at $98.00 and were trading at $90.50 one week ago. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its stock price.

CXW has been the subject of a number of analyst reports. Canaccord Genuity restated a “hold” rating and set a $17.00 price objective on shares of Corrections Corp. of America in a research note on Tuesday, October 18th. SunTrust Banks Inc. upgraded Corrections Corp. of America from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Wednesday, October 12th. Zacks Investment Research cut Corrections Corp. of America from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 11th. Wells Fargo & Co. reiterated a “neutral” rating on shares of Corrections Corp. of America in a research note on Sunday, August 21st. Finally, TheStreet cut Corrections Corp. of America from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $26.33.

Corrections Corp. of America (NYSE:CXW) opened at 19.44 on Friday. Corrections Corp. of America has a 52 week low of $12.99 and a 52 week high of $35.05. The stock has a 50 day moving average price of $14.58 and a 200 day moving average price of $25.06. The stock has a market capitalization of $2.29 billion, a PE ratio of 11.05 and a beta of 0.77.

Corrections Corp. of America (NYSE:CXW) last issued its quarterly earnings data on Wednesday, November 2nd. The real estate investment trust reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. Corrections Corp. of America had a return on equity of 14.55% and a net margin of 11.34%. The business earned $474.94 million during the quarter, compared to analysts’ expectations of $470.39 million. During the same period in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. Equities analysts forecast that Corrections Corp. of America will post $2.59 EPS for the current year.

In other news, CEO Damon T. Hininger acquired 2,870 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was acquired at an average cost of $16.60 per share, with a total value of $47,642.00. Following the completion of the purchase, the chief executive officer now owns 200,331 shares of the company’s stock, valued at approximately $3,325,494.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Emkes acquired 10,000 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was purchased at an average cost of $17.19 per share, with a total value of $171,900.00. Following the completion of the purchase, the director now directly owns 20,755 shares of the company’s stock, valued at approximately $356,778.45. The disclosure for this purchase can be found here. 1.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CXW. BlackRock Group LTD boosted its position in Corrections Corp. of America by 47.9% in the first quarter. BlackRock Group LTD now owns 72,508 shares of the real estate investment trust’s stock valued at $2,324,000 after buying an additional 23,489 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Corrections Corp. of America by 39.8% in the first quarter. JPMorgan Chase & Co. now owns 136,826 shares of the real estate investment trust’s stock valued at $4,385,000 after buying an additional 38,975 shares during the last quarter. State Street Corp boosted its position in Corrections Corp. of America by 4.2% in the first quarter. State Street Corp now owns 3,171,507 shares of the real estate investment trust’s stock valued at $101,642,000 after buying an additional 127,042 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Corrections Corp. of America by 9.9% in the first quarter. Goldman Sachs Group Inc. now owns 211,990 shares of the real estate investment trust’s stock valued at $6,794,000 after buying an additional 19,149 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Corrections Corp. of America by 5.8% in the first quarter. Geode Capital Management LLC now owns 964,372 shares of the real estate investment trust’s stock valued at $30,908,000 after buying an additional 52,787 shares during the last quarter. 87.90% of the stock is owned by hedge funds and other institutional investors.

About Corrections Corp. of America

Corrections Corporation of America is a real estate investment trust (REIT). The Company is engaged in owning, operating and managing prisons and other correctional facilities, and providing residential, community re-entry, and prisoner transportation services for governmental agencies. The Company’s facilities offer a range of rehabilitation and educational programs, including basic education, faith-based services, life skills and employment training, and substance abuse treatment.

5 Day Chart for NYSE:CXW

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