Corrections Corporation of America (CXW) : Tuesdays money flow points at investors jumping to buy the stock on the weakness of price. $3.87 million worth of transactions were on upticks, whereas, the downticks accounted for $2.77 million worth of transactions. The net money flow was a positive $1.1 million and the uptick to downtick ratio was 1.4. However, the block trades showed a clear dominance of the bulls with a very healthy ratio of 4.77 in their favor. The net money flow into the stock was $0.61 million. The value of block trades done on downticks was only $0.16 million. The lack of interest in trading on downticks shows that the investors dont want to sell their holdings. The upticks accounted for $0.77 million of the total block trades, indicating continued buying interest on weakness, which bodes well for the future of the stock. Corrections Corporation of America (CXW) was trading at $16.2, down $0.59 during day. The stock slid -3.51% over the previous days close. For the week, the stock recorded -7.48% over the previous weeks close.
Also, In a research note released to the investors, SunTrust Robinson Humphrey downgrades its rating on Corrections Corporation of America (NYSE:CXW).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on July 1, 2016.
Corrections Corporation of America has lost 12.93% in the last five trading days and dropped 50.77% in the last 4 weeks. Corrections Corporation of America has dropped 51.43% during the last 3-month period . Year-to-Date the stock performance stands at -37.55%.
Corrections Corporation of America (NYSE:CXW): The stock opened at $16.55 on Tuesday but the bulls could not build on the opening and the stock topped out at $16.73 for the day. The stock traded down to $15.92 during the day, due to lack of any buying support eventually closed down at $16.02 with a loss of -4.59% for the day. The stock had closed at $16.79 on the previous day. The total traded volume was 4,238,594 shares.
In a related news, Emkes Mark A, director of Corrections Corp Of America, executed a transaction worth $171,900 on August 18, 2016. A total of 10,000 shares were purchased at an average price of $17.19. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Corrections Corporation of America (CCA) is a real estate investment trust (REIT). The Company 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 Companys facilities offer a variety of rehabilitation and educational programs, including basic education, faith-based services, life skills and employment training, and substance abuse treatment. It also provides or makes available to offenders certain health care (including medical, dental and mental health services), food services, and work and recreational programs. The Companys customers consist of federal, state, and local correctional and detention authorities. The Company also provides transportation services to governmental agencies through its wholly owned TRS, TransCor America, LLC (TransCor).