Corecivic Inc (NYSE:CXW) Short Interest Down 5.3% in June

Corecivic Inc (NYSE:CXW) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 1,255,300 shares, a drop of 5.3% from the May 30th total of 1,326,000 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average trading volume of 611,000 shares, the days-to-cover ratio is currently 2.1 days.

Shares of CXW stock traded down $0.40 during trading hours on Tuesday, hitting $17.53. The stock had a trading volume of 13,201 shares, compared to its average volume of 1,024,525. Corecivic has a one year low of $17.16 and a one year high of $26.09. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.32. The business has a 50-day simple moving average of $21.54. The stock has a market capitalization of $2.13 billion, a PE ratio of 7.62 and a beta of 1.09.

Corecivic (NYSE:CXW) last issued its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.18). Corecivic had a return on equity of 12.72% and a net margin of 9.09%. The firm had revenue of $484.06 million during the quarter, compared to the consensus estimate of $466.75 million. During the same period last year, the firm posted $0.53 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts forecast that Corecivic will post 2.5 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, June 28th. This represents a $1.76 annualized dividend and a yield of 10.04%. Corecivic’s payout ratio is currently 76.19%.

CXW has been the topic of a number of recent analyst reports. Zacks Investment Research raised Grana y Montero SAA from a “sell” rating to a “hold” rating in a report on Monday, June 10th. TheStreet cut Worthington Industries from a “b-” rating to a “c+” rating in a report on Monday, June 10th. Finally, ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd.

A number of hedge funds and other institutional investors have recently modified their holdings of CXW. Orrstown Financial Services Inc. bought a new stake in Corecivic during the first quarter worth approximately $36,000. Carroll Financial Associates Inc. increased its stake in Corecivic by 250.2% during the first quarter. Carroll Financial Associates Inc. now owns 2,157 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,541 shares during the last quarter. Atlas Capital Advisors LLC bought a new stake in Corecivic during the first quarter worth approximately $49,000. Advisory Services Network LLC increased its stake in Corecivic by 17.1% during the first quarter. Advisory Services Network LLC now owns 3,591 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 524 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Corecivic during the second quarter worth approximately $259,000. 80.68% of the stock is currently owned by institutional investors.

About Corecivic

CoreCivic 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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