Exclusive: Time to Buy Corecivic Inc After Today’s Big Increase?

Exclusive: Time to Buy Corecivic Inc After Today's Big Increase?

The stock of Corecivic Inc (NYSE:CXW) is a huge mover today! About 592,068 shares traded hands. Corecivic Inc (NYSE:CXW) has declined 37.71% since April 18, 2016 and is downtrending. It has underperformed by 42.14% the S&P500.
The move comes after 9 months positive chart setup for the $2.31B company. It was reported on Nov, 18 by Barchart.com. We have $24.68 PT which if reached, will make NYSE:CXW worth $485.10 million more.

Corecivic Inc (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 10 analyst reports since November 6, 2015 according to StockzIntelligence Inc. The stock of Corecivic Inc (NYSE:CXW) earned “Hold” rating by Canaccord Genuity on Tuesday, March 22. The stock has “Neutral” rating given by Suntrust Robinson on Friday, July 1. Suntrust Robinson maintained the shares of CXW in a report on Thursday, September 1 with “Neutral” rating. SunTrust maintained the stock with “Neutral” rating in Thursday, September 1 report. The stock of Corecivic Inc (NYSE:CXW) earned “Hold” rating by Canaccord Genuity on Wednesday, August 24. The stock of Corecivic Inc (NYSE:CXW) earned “Buy” rating by SunTrust on Wednesday, October 12. The firm has “Hold” rating given on Friday, November 11 by Canaccord Genuity. The stock has “Hold” rating given by Canaccord Genuity on Friday, August 5. The stock of Corecivic Inc (NYSE:CXW) earned “Hold” rating by Canaccord Genuity on Thursday, October 20. The firm earned “Hold” rating on Friday, November 6 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 decreased to 0.89 in Q2 2016. Its down 0.53, from 1.42 in 2016Q1. The ratio dropped, as 20 funds sold all Corecivic Inc 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.
Toronto Dominion Bank last reported 0% of its portfolio in the stock. Regions Financial Corp owns 7,101 shares or 0% of their US portfolio. Shell Asset Management Company last reported 55,655 shares in the company. M&T Bancshares, a New York-based fund reported 39,283 shares. Moreover, Tdam Usa has 0.02% invested in Corecivic Inc (NYSE:CXW) for 13,780 shares. Panagora Asset Mngmt Inc has 5,197 shares for 0% of their US portfolio. Moreover, Azimuth Mngmt Lc has 0.22% invested in Corecivic Inc (NYSE:CXW) for 68,925 shares. Blackrock Fund has 0.04% invested in the company for 4.63 million shares. The Mississippi-based Hancock Co has invested 0.01% in Corecivic Inc (NYSE:CXW). Moreover, Ameriprise Fin has 0.01% invested in Corecivic Inc (NYSE:CXW) for 631,606 shares. Whittier holds 341 shares or 0% of its portfolio. Liberty Mutual Asset Mngmt last reported 0.07% of its portfolio in the stock. Trust Department Mb Finance Bank N A last reported 118 shares in the company. Wright Invsts Serv Inc has invested 0.64% of its portfolio in Corecivic Inc (NYSE:CXW). Federated Pa reported 54,002 shares or 0.01% of all its holdings.

Insider Transactions: Since August 18, 2016, the stock had 6 insider buys, and 0 selling transactions for $561,380 net activity. OVERBY CHARLES L bought $99,250 worth of stock or 5,000 shares. 5,000 shares were bought by MARIUCCI ANNE L, worth $96,300. Shares for $47,652 were bought by Hininger Damon T. Emkes Mark A bought $171,889 worth of Corecivic Inc (NYSE:CXW) on Thursday, August 18. Irwin Scott D had bought 300 shares worth $5,100 on Thursday, August 18.

More important recent Corecivic Inc (NYSE:CXW) news were published by: Marketwatch.com which released: “Virtual Stock Exchange” on October 08, 2010, also Finance.Yahoo.com published article titled: “CoreCivic Extends Contract for the McRae Correctional Facility”, Quotes.Wsj.com published: “News CoreCivic Inc.CXW” on February 11, 2011. More interesting news about Corecivic Inc (NYSE:CXW) was released by: Huffingtonpost.com and their article: “”CoreCivic”: New Name, Same For-Profit Prison Greed” with publication date: November 03, 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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