Trade Report: Today: Corrections Corp. of America (CXW) Director Buys $110,400.00 in Stock

Today: Corrections Corp. of America (CXW) Director Buys $110,400.00 in Stock

Corrections Corp. of America (NYSE:CXW) Director Mark A. Emkes bought 5,000 shares of Corrections Corp. of America stock in a transaction on Friday, November 25th. The stock was acquired at an average price of $22.08 per share, for a total transaction of $110,400.00. Following the transaction, the director now directly owns 35,755 shares of the company’s stock, valued at $789,470.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Corrections Corp. of America (NYSE:CXW) traded up 1.36% during midday trading on Monday, reaching $22.30. The company’s stock had a trading volume of 1,591,377 shares. The firm’s 50 day moving average is $16.30 and its 200 day moving average is $24.33. Corrections Corp. of America has a 52 week low of $12.99 and a 52 week high of $35.05. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 12.67 and a beta of 0.77.

Corrections Corp. of America (NYSE:CXW) last announced its earnings results on Wednesday, November 2nd. The real estate investment trust reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The firm had revenue of $474.94 million for the quarter, compared to analysts’ expectations of $470.39 million. Corrections Corp. of America had a return on equity of 14.55% and a net margin of 11.34%. Corrections Corp. of America’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. Equities analysts forecast that Corrections Corp. of America will post $2.60 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. LS Investment Advisors LLC boosted its stake in Corrections Corp. of America by 5.7% in the third quarter. LS Investment Advisors LLC now owns 7,429 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 403 shares during the period. Creative Planning boosted its stake in Corrections Corp. of America by 416.7% in the second quarter. Creative Planning now owns 3,100 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 2,500 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in Corrections Corp. of America during the second quarter valued at about $123,000. Advisor Group Inc. acquired a new stake in Corrections Corp. of America during the second quarter valued at about $138,000. Finally, Spirit of America Management Corp NY acquired a new stake in Corrections Corp. of America during the third quarter valued at about $142,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

CXW has been the topic of several research analyst reports. SunTrust Banks Inc. upgraded Corrections Corp. of America from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday, October 12th. Canaccord Genuity boosted their price objective on Corrections Corp. of America from $17.00 to $22.00 and gave the company a “hold” rating in a report on Friday, November 11th. TheStreet downgraded Corrections Corp. of America from a “buy” rating to a “hold” rating in a report on Friday, August 12th. Zacks Investment Research upgraded Corrections Corp. of America from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Finally, Wells Fargo & Co. reiterated a “neutral” rating on shares of Corrections Corp. of America in a report on Sunday, August 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Corrections Corp. of America has an average rating of “Hold” and a consensus target price of $26.33.

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