Investors Purchase High Volume of Corecivic Put Options (CXW)

Corecivic Inc (NYSE:CXW) was the recipient of unusually large options trading on Monday. Traders bought 2,592 put options on the stock. This represents an increase of 3,100% compared to the average daily volume of 81 put options.

In other Corecivic news, CFO David Garfinkle sold 5,010 shares of the stock in a transaction on Monday, July 30th. The stock was sold at an average price of $25.31, for a total value of $126,803.10. Following the completion of the sale, the chief financial officer now owns 105,082 shares in the company, valued at approximately $2,659,625.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles L. Overby sold 43,712 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $25.26, for a total value of $1,104,165.12. Following the completion of the sale, the director now owns 57,067 shares of the company’s stock, valued at approximately $1,441,512.42. The disclosure for this sale can be found here. Insiders sold a total of 125,770 shares of company stock valued at $3,208,426 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Fox Run Management L.L.C. grew its position in shares of Corecivic by 119.1% during the third quarter. Fox Run Management L.L.C. now owns 29,289 shares of the real estate investment trust’s stock valued at $713,000 after purchasing an additional 15,919 shares in the last quarter. United Services Automobile Association grew its position in shares of Corecivic by 13.6% during the second quarter. United Services Automobile Association now owns 23,644 shares of the real estate investment trust’s stock valued at $565,000 after purchasing an additional 2,829 shares in the last quarter. Northern Trust Corp grew its position in shares of Corecivic by 57.8% during the second quarter. Northern Trust Corp now owns 1,952,332 shares of the real estate investment trust’s stock valued at $46,641,000 after purchasing an additional 714,970 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Corecivic by 5.7% during the second quarter. Bank of New York Mellon Corp now owns 3,514,976 shares of the real estate investment trust’s stock valued at $83,973,000 after purchasing an additional 190,010 shares in the last quarter. Finally, Global X Management Co LLC purchased a new position in shares of Corecivic during the second quarter valued at about $9,753,000. Hedge funds and other institutional investors own 84.12% of the company’s stock.

Shares of CXW stock opened at $23.95 on Tuesday. Corecivic has a 52-week low of $18.61 and a 52-week high of $27.50. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 1.75 and a beta of 1.03.

Corecivic (NYSE:CXW) last issued its quarterly earnings results on Wednesday, August 8th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.01). Corecivic had a return on equity of 11.44% and a net margin of 8.99%. The business had revenue of $449.93 million during the quarter, compared to analysts’ expectations of $435.61 million. During the same quarter in the previous year, the company posted $0.59 EPS. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Analysts expect that Corecivic will post 2.32 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, September 28th. This represents a $1.72 dividend on an annualized basis and a yield of 7.18%. Corecivic’s payout ratio is presently 74.14%.

A number of equities research analysts have issued reports on the company. ValuEngine upgraded Corecivic from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 2nd. Zacks Investment Research lowered Corecivic from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Finally, TheStreet upgraded Corecivic from a “c” rating to a “b-” rating in a research note on Monday, June 25th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.67.

About Corecivic

The Company 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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