David Garfinkle Sells 10,000 Shares of Corrections Corp. of America (NYSE:CXW) Stock

Corrections Corp. of America (NYSE:CXW) CFO David Garfinkle sold 10,000 shares of Corrections Corp. of America stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $26.01, for a total value of $260,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

David Garfinkle also recently made the following trade(s):

  • On Friday, September 15th, David Garfinkle sold 10,000 shares of Corrections Corp. of America stock. The stock was sold at an average price of $25.90, for a total value of $259,000.00.

Corrections Corp. of America (NYSE:CXW) traded up 0.73% during midday trading on Thursday, reaching $24.75. The company’s stock had a trading volume of 1,030,876 shares. The firm has a market cap of $2.92 billion, a P/E ratio of 13.77 and a beta of 0.92. The firm has a 50 day moving average price of $25.97 and a 200-day moving average price of $28.43. Corrections Corp. of America has a 52 week low of $12.99 and a 52 week high of $35.33.

Corrections Corp. of America (NYSE:CXW) last issued its earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.23. Corrections Corp. of America had a net margin of 11.62% and a return on equity of 14.54%. The firm had revenue of $436.39 million for the quarter, compared to analyst estimates of $437.92 million. During the same quarter last year, the business posted $0.49 earnings per share. The company’s quarterly revenue was down 5.8% on a year-over-year basis. On average, analysts forecast that Corrections Corp. of America will post $1.52 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.79%. The ex-dividend date was Friday, September 29th. Corrections Corp. of America’s payout ratio is currently 93.86%.

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A number of research firms recently weighed in on CXW. Zacks Investment Research raised Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Friday, August 4th. ValuEngine raised Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Deutsche Bank AG decreased their target price on Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, August 8th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and set a $37.00 target price on shares of Corrections Corp. of America in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Corrections Corp. of America has an average rating of “Buy” and an average target price of $34.25.

Several hedge funds have recently added to or reduced their stakes in the company. Honeywell International Inc. raised its stake in shares of Corrections Corp. of America by 27.8% during the third quarter. Honeywell International Inc. now owns 62,866 shares of the real estate investment trust’s stock valued at $1,683,000 after acquiring an additional 13,656 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Corrections Corp. of America by 43.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 11,898 shares of the real estate investment trust’s stock valued at $319,000 after acquiring an additional 3,626 shares during the last quarter. New Jersey Better Educational Savings Trust raised its stake in shares of Corrections Corp. of America by 25.0% during the third quarter. New Jersey Better Educational Savings Trust now owns 15,000 shares of the real estate investment trust’s stock valued at $402,000 after acquiring an additional 3,000 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Corrections Corp. of America by 50.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 600,000 shares of the real estate investment trust’s stock valued at $16,062,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Corrections Corp. of America during the third quarter valued at $34,152,000. 85.10% of the stock is owned by hedge funds and other institutional investors.

About Corrections Corp. of America

CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.

Insider Buying and Selling by Quarter for Corrections Corp. of America (NYSE:CXW)

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