CoreCivic (NYSE:CXW) Shares Gap Up – Here’s What Happened

CoreCivic, Inc. (NYSE:CXW) gapped up before the market opened on Friday . The stock had previously closed at $29.38, but opened at $30.27. CoreCivic shares last traded at $30.3060, with a volume of 328,973 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CXW shares. Weiss Ratings downgraded CoreCivic from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 16th. Northland Securities set a $40.00 price target on shares of CoreCivic in a research report on Friday. Benchmark raised their price target on shares of CoreCivic from $28.00 to $36.00 and gave the company a “buy” rating in a report on Friday. Finally, Wall Street Zen lowered shares of CoreCivic from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.33.

CoreCivic Stock Performance

The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $3.01 billion, a PE ratio of 24.62 and a beta of 0.67. The business has a 50 day simple moving average of $22.87 and a 200 day simple moving average of $20.39.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.16). The company had revenue of $614.73 million for the quarter, compared to analyst estimates of $604.48 million. CoreCivic had a net margin of 5.53% and a return on equity of 9.29%. The business’s revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 EPS. CoreCivic has set its FY 2026 guidance at 2.580-2.680 EPS. Equities research analysts predict that CoreCivic, Inc. will post 2.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its stake in shares of CoreCivic by 43.6% during the first quarter. Bank of America Corp DE now owns 236,346 shares of the real estate investment trust’s stock worth $4,469,000 after buying an additional 71,756 shares during the period. Rubric Capital Management LP increased its position in shares of CoreCivic by 5.0% in the 1st quarter. Rubric Capital Management LP now owns 2,059,216 shares of the real estate investment trust’s stock valued at $38,940,000 after acquiring an additional 97,770 shares during the period. Empowered Funds LLC purchased a new position in CoreCivic in the 1st quarter worth $4,785,000. Quantinno Capital Management LP lifted its holdings in shares of CoreCivic by 316.4% during the first quarter. Quantinno Capital Management LP now owns 80,070 shares of the real estate investment trust’s stock worth $1,514,000 after purchasing an additional 60,841 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in CoreCivic in the first quarter valued at approximately $2,015,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

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.