Traders Purchase Large Volume of Call Options on CoreCivic (NYSE:CXW)

CoreCivic, Inc. (NYSE:CXW) saw unusually large options trading activity on Wednesday. Traders purchased 8,832 call options on the company. This is an increase of 1,880% compared to the average daily volume of 446 call options.

In other CoreCivic news, EVP Patrick D. Swindle sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $8.34, for a total transaction of $208,500.00. Following the completion of the transaction, the executive vice president now directly owns 182,871 shares of the company’s stock, valued at approximately $1,525,144.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.38% of the company’s stock.

Several large investors have recently bought and sold shares of CXW. CWM LLC purchased a new position in shares of CoreCivic during the 1st quarter valued at approximately $27,000. The PNC Financial Services Group Inc. increased its holdings in CoreCivic by 295.5% in the 1st quarter. The PNC Financial Services Group Inc. now owns 7,929 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 5,924 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in CoreCivic in the 4th quarter worth $72,000. Chicago Partners Investment Group LLC purchased a new stake in CoreCivic in the 1st quarter worth $85,000. Finally, Quantbot Technologies LP increased its holdings in CoreCivic by 181.7% in the 1st quarter. Quantbot Technologies LP now owns 11,192 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 7,219 shares in the last quarter. 74.66% of the stock is owned by hedge funds and other institutional investors.

NYSE:CXW opened at $10.24 on Thursday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -11.77 and a beta of 1.30. The company’s 50 day moving average price is $9.81. CoreCivic has a 1-year low of $5.76 and a 1-year high of $12.35.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, May 5th. The real estate investment trust reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. CoreCivic had a negative net margin of 5.54% and a positive return on equity of 4.96%. As a group, equities research analysts forecast that CoreCivic will post 1.7 EPS for the current year.

A number of equities analysts have issued reports on CXW shares. TheStreet raised shares of CoreCivic from a “d” rating to a “c-” rating in a research report on Friday, June 18th. Wedbush started coverage on shares of CoreCivic in a research report on Friday, June 18th. They set a “neutral” rating and a $10.85 price target for the company.

About CoreCivic

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.

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