Corrections Corp Of America Unusual Bullish Options Activity Means Profits for Traders

 Corrections Corp Of America Unusual Bullish Options Activity Means Profits for Traders

In today’s session Corrections Corp Of America (CXW) registered an unusually high (589) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious CXW increase. With 589 contracts traded and 11724 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: CXW161216C00015000 closed last at: $6 or 471.4% up. About 450,420 shares traded hands. Corrections Corp Of America (NYSE:CXW) has declined 37.03% since April 11, 2016 and is downtrending. It has underperformed by 43.18% the S&P500.

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. $33 is the highest target while $17 is the lowest. The $19 average target is -3.36% below today’s ($19.66) stock price. Corrections Corp has been the topic of 9 analyst reports since November 6, 2015 according to StockzIntelligence Inc. The rating was maintained by Canaccord Genuity on Tuesday, March 22 with “Hold”. The rating was maintained by Canaccord Genuity with “Hold” on Friday, August 5. The firm has “Neutral” rating given on Friday, July 1 by Suntrust Robinson. Suntrust Robinson maintained Corrections Corp Of America (NYSE:CXW) on Thursday, September 1 with “Neutral” rating. The rating was maintained by Canaccord Genuity on Friday, November 6 with “Hold”. The stock has “Hold” rating given by Canaccord Genuity on Thursday, October 20. SunTrust maintained Corrections Corp Of America (NYSE:CXW) on Thursday, September 1 with “Neutral” rating. The firm earned “Buy” rating on Wednesday, October 12 by SunTrust. The firm earned “Hold” rating on Wednesday, August 24 by Canaccord Genuity.

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 increased, 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.
Blackrock Fund Advsrs last reported 0.04% of its portfolio in the stock. last reported 0% of its portfolio in the stock. Aqr Capital Mngmt Ltd Liability Corporation holds 308,850 shares or 0.02% of its portfolio. Moreover, Kcg has 0% invested in Corrections Corp Of America (NYSE:CXW) for 6,087 shares. Smithfield Co has 17,823 shares for 0.12% of their US portfolio. Nuance Invs holds 0.15% of its portfolio in Corrections Corp Of America (NYSE:CXW) for 41,544 shares. Advantus Capital Management holds 14,227 shares or 0.01% of its portfolio. Us Bank De has 0% invested in the company for 18,639 shares. Moreover, Cornercap Counsel Inc has 0.08% invested in Corrections Corp Of America (NYSE:CXW) for 11,490 shares. Blackrock Japan, a Japan-based fund reported 6,233 shares. Swiss Natl Bank last reported 199,018 shares in the company. Dorsey Whitney Trust Ltd holds 5,132 shares or 0.18% of its portfolio. Los Angeles Cap And Equity Rech holds 0.01% or 25,706 shares in its portfolio. Assetmark holds 0.01% or 16,746 shares in its portfolio. Metropolitan Life Insurance Ny holds 0.03% of its portfolio in Corrections Corp Of America (NYSE:CXW) for 116,542 shares.

Insider Transactions: Since August 18, 2016, the stock had 6 insider buys, and 0 insider sales for $561,380 net activity. OVERBY CHARLES L bought $99,250 worth of stock. MARIUCCI ANNE L had bought 5,000 shares worth $96,300. The insider Emkes Mark A bought 10,000 shares worth $141,189. Hininger Damon T had bought 2,870 shares worth $47,652. Irwin Scott D also bought $5,100 worth of Corrections Corp Of America (NYSE:CXW) shares.

Corrections Corporation of America is a real estate investment trust . The company has a market cap of $2.25 billion. 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. It has a 11.15 P/E ratio. 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.

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.

More notable recent Corrections Corp Of America (NYSE:CXW) news were published by: Foxbusiness.com which released: “Why Corrections Corp. of America, SLM Corp., and U.S. Steel Jumped Today” on November 09, 2016, also Fool.com with their article: “Why Corrections Corporation of America Broke Out a 60% Gain Today” published on November 09, 2016, Realmoney.Thestreet.com published: “Corrections Corp. of America: Value Investing for the Strong of Stomach” on October 14, 2016. More interesting news about Corrections Corp Of America (NYSE:CXW) were released by: Fool.com and their article: “Why Barracuda Networks, Corrections Corp. of America, and Mueller Water …” published on October 12, 2016 as well as Reuters.com‘s news article titled: “BRIEF-Corrections Corporation of America rebrands as Corecivic” with publication date: October 28, 2016.

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