Price Action Don’t Lie: Is Buying Stock Like Corrections Corp Of America After Such Increase Winning Strategy?

Price Action Don't Lie: Is Buying Stock Like Corrections Corp Of America After Such Increase Winning Strategy?

The stock of Corrections Corp Of America (NYSE:CXW) is a huge mover today! The stock decreased 1.31% or $0.17 during the last trading session, hitting $13.18. Corrections Corp Of America (NYSE:CXW) has declined 59.94% since March 29, 2016 and is downtrending. It has underperformed by 63.41% the S&P500.
The move comes after 5 months positive chart setup for the $1.51 billion company. It was reported on Oct, 31 by Barchart.com. We have $17.79 PT which if reached, will make NYSE:CXW worth $528.50M more.

Analysts await Corrections Corp Of America (NYSE:CXW) to report earnings on November, 2. They expect $0.68 earnings per share, up 7.94% or $0.05 from last year’s $0.63 per share. CXW’s profit will be $77.91M for 4.85 P/E if the $0.68 EPS becomes a reality. After $0.69 actual earnings per share reported by Corrections Corp Of America for the previous quarter, Wall Street now forecasts -1.45% negative EPS growth.

Corrections Corp Of America (NYSE:CXW) Ratings Coverage

Out of 3 analysts covering Corrections Corp (NYSE:CXW), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Corrections Corp has been the topic of 9 analyst reports since November 6, 2015 according to StockzIntelligence Inc. As per Friday, July 1, the company rating was downgraded by Suntrust Robinson. The firm has “Hold” rating by Canaccord Genuity given on Friday, November 6. The firm has “Hold” rating given on Wednesday, August 24 by Canaccord Genuity. The company was maintained on Thursday, October 20 by Canaccord Genuity. The firm has “Buy” rating by SunTrust given on Wednesday, October 12. Suntrust Robinson maintained the shares of CXW in a report on Thursday, September 1 with “Neutral” rating. As per Tuesday, March 22, the company rating was maintained by Canaccord Genuity. As per Friday, August 5, the company rating was maintained by Canaccord Genuity. SunTrust maintained Corrections Corp Of America (NYSE:CXW) on Thursday, September 1 with “Neutral” rating.

According to Zacks Investment Research, “Corrections Corporation of America is a real estate investment trust. It owns, operates and manages correctional, detention facilities and prisons primarily in the United States. In addition to providing the fundamental residential services relating to inmates, the company also offers rehabilitation and educational programs, including basic education, religious services, life skills and employment training and substance abuse treatment. Corrections Corporation of America is based in Nashville, Tennessee.”

Insitutional Activity: The institutional sentiment increased to 1.42 in 2016 Q2. Its up 0.17, from 1.25 in 2016Q1. The ratio is positive, as 20 funds sold all Corrections Corp Of America shares owned while 84 reduced positions. 37 funds bought stakes while 111 increased positions. They now own 105.78 million shares or 0.65% less from 106.47 million shares in 2016Q1.
Rhumbline Advisers accumulated 0.02% or 192,600 shares. Los Angeles Capital & Equity reported 25,706 shares or 0.01% of all its holdings. Hillsdale Invest reported 3,500 shares or 0.04% of all its holdings. Mutual Of America Mngmt Lc has 86,925 shares for 0.06% of their US portfolio. Moreover, Panagora Asset Management has 0% invested in Corrections Corp Of America (NYSE:CXW) for 5,197 shares. Td Asset reported 488,751 shares or 0.03% of all its holdings. Dimensional Fund Advsrs Lp last reported 0% of its portfolio in the stock. Nuance Invs last reported 0.15% of its portfolio in the stock. Retirement Of Alabama accumulated 0.03% or 151,541 shares. Ameritas Prns Inc holds 0.04% or 18,575 shares in its portfolio. Bnp Paribas Arbitrage holds 92,113 shares or 0.01% of its portfolio. Moreover, Dubuque Bank Trust Com has 0% invested in Corrections Corp Of America (NYSE:CXW) for 443 shares. Advsrs Asset Mngmt reported 18,375 shares or 0.01% of all its holdings. Nfc Investments Limited Liability Company has 1.95% invested in the company for 118,259 shares. Regions Fincl holds 0% or 7,101 shares in its portfolio.

Insider Transactions: Since August 18, 2016, the stock had 5 insider purchases, and 0 insider sales for $420,191 net activity. 2,870 shares were bought by Hininger Damon T, worth $47,652 on Thursday, August 18. Irwin Scott D also bought $5,100 worth of Corrections Corp Of America (NYSE:CXW) on Thursday, August 18. 5,000 shares were bought by MARIUCCI ANNE L, worth $96,300. Another trade for 5,000 shares valued at $99,250 was bought by OVERBY CHARLES L. Shares for $171,889 were bought by Emkes Mark A.

More notable recent Corrections Corp Of America (NYSE:CXW) news were published by: Reuters.com which released: “BRIEF-Corrections Corporation of America rebrands as Corecivic” on October 28, 2016, also Realmoney.Thestreet.com with their article: “Corrections Corp. of America: Value Investing for the Strong of Stomach” published on October 14, 2016, Fool.com published: “Why Barracuda Networks, Corrections Corp. of America, and Mueller Water …” on October 12, 2016. More interesting news about Corrections Corp Of America (NYSE:CXW) were released by: Zacks.com and their article: “Bear of the Day: Corrections Corp of America (CXW)” published on October 13, 2016 as well as Reuters.com‘s news article titled: “BRIEF-Corrections Corp Of America sees q3 EPS $0.43 to $0.45” with publication date: October 17, 2016.

CXW Company Profile

Corrections Corporation of America, incorporated on September 24, 1998, is a real estate investment trust (REIT). The Firm 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. In addition to providing fundamental residential services, the Company’s facilities offer a range of rehabilitation and educational programs, including basic education, faith services, life skills and employment training, and substance abuse treatment. It also provides or makes available to offenders certain healthcare (including medical, dental and mental health services), food services and work and recreational programs. The Company’s clients consist of federal, state and local correctional and detention authorities. Federal correctional and detention authorities consist of the Federal Bureau of Prisons (the BOP), the United States Marshals Service (the USMS), and the United States Immigration and Customs Enforcement (ICE). The Company’s customer contracts have terms of three to five years and contain multiple renewal options. Most of its facility contracts also contain clauses that allow the government agency to terminate the contract at any time without cause.

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