Corrections Corp. of America (NYSE:CXW) shares traded down 1% during trading on Tuesday . The company traded as low as $22.89 and last traded at $24.37. 849,700 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 1,039,813 shares. The stock had previously closed at $24.61.

A number of research analysts have recently commented on the company. BidaskClub downgraded Corrections Corp. of America from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Friday, August 4th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $37.00 price objective on shares of Corrections Corp. of America in a report on Monday, October 2nd. ValuEngine downgraded Corrections Corp. of America from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, Deutsche Bank AG dropped their price objective on Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Corrections Corp. of America presently has a consensus rating of “Hold” and an average target price of $34.25.

The stock has a market capitalization of $2,790.00, a P/E ratio of 9.88, a PEG ratio of 1.76 and a beta of 0.91. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.97.

Corrections Corp. of America (NYSE:CXW) last released its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. The firm had revenue of $442.80 million for the quarter, compared to the consensus estimate of $437.18 million. Corrections Corp. of America had a return on equity of 13.54% and a net margin of 11.03%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. analysts expect that Corrections Corp. of America will post 2.33 earnings per share for the current year.

In related news, CFO David Garfinkle sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $26.01, for a total transaction of $260,100.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Thurgood Marshall, Jr. sold 2,360 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $25.90, for a total value of $61,124.00. Following the transaction, the director now owns 31,083 shares in the company, valued at approximately $805,049.70. The disclosure for this sale can be found here. Insiders have sold a total of 22,360 shares of company stock worth $580,224 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Corrections Corp. of America by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 19,273,935 shares of the real estate investment trust’s stock worth $531,576,000 after buying an additional 459,903 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Corrections Corp. of America by 43.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,865,032 shares of the real estate investment trust’s stock worth $106,598,000 after buying an additional 1,170,205 shares during the last quarter. Acadian Asset Management LLC grew its stake in Corrections Corp. of America by 2.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,306,883 shares of the real estate investment trust’s stock worth $63,624,000 after buying an additional 56,639 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Corrections Corp. of America by 4.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,140,892 shares of the real estate investment trust’s stock worth $57,312,000 after acquiring an additional 92,348 shares during the period. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in Corrections Corp. of America during the 3rd quarter worth approximately $34,152,000. Hedge funds and other institutional investors own 84.78% of the company’s stock.

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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.

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