Principal Financial Group Inc. Lowers Stake in CoreCivic, Inc. (NYSE:CXW)

Principal Financial Group Inc. cut its position in CoreCivic, Inc. (NYSE:CXW) by 1.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 724,700 shares of the real estate investment trust’s stock after selling 12,256 shares during the period. Principal Financial Group Inc. owned approximately 0.63% of CoreCivic worth $6,667,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CXW. Boston Partners purchased a new position in CoreCivic in the fourth quarter worth about $19,800,000. Employees Retirement System of Texas purchased a new position in CoreCivic in the first quarter worth about $10,889,000. Arrowstreet Capital Limited Partnership raised its holdings in CoreCivic by 318.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,205,074 shares of the real estate investment trust’s stock worth $13,931,000 after buying an additional 917,105 shares during the last quarter. Foundry Partners LLC purchased a new position in CoreCivic in the first quarter worth about $4,932,000. Finally, Millennium Management LLC raised its holdings in CoreCivic by 92.4% in the fourth quarter. Millennium Management LLC now owns 1,082,662 shares of the real estate investment trust’s stock worth $12,516,000 after buying an additional 520,043 shares during the last quarter. 80.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on CXW. StockNews.com began coverage on shares of CoreCivic in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Wedbush reiterated an “outperform” rating and issued a $11.50 price target on shares of CoreCivic in a research note on Tuesday, August 8th.

Insider Activity at CoreCivic

In other CoreCivic news, EVP Cole G. Carter sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $9.75, for a total value of $48,750.00. Following the completion of the transaction, the executive vice president now directly owns 236,162 shares in the company, valued at $2,302,579.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other CoreCivic news, EVP Cole G. Carter sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $9.75, for a total value of $48,750.00. Following the completion of the transaction, the executive vice president now directly owns 236,162 shares in the company, valued at $2,302,579.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David Garfinkle sold 36,112 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $10.05, for a total transaction of $362,925.60. Following the completion of the transaction, the chief financial officer now owns 334,774 shares of the company’s stock, valued at $3,364,478.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 174,116 shares of company stock worth $1,798,082. 1.89% of the stock is owned by company insiders.

CoreCivic Stock Performance

Shares of CXW stock opened at $10.76 on Friday. The company has a 50 day moving average price of $9.77 and a 200-day moving average price of $9.46. CoreCivic, Inc. has a 52 week low of $7.84 and a 52 week high of $13.50. The firm has a market capitalization of $1.22 billion, a PE ratio of 10.45 and a beta of 0.94. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.74.

CoreCivic (NYSE:CXW) last announced its earnings results on Monday, August 7th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.21). The business had revenue of $463.68 million for the quarter, compared to the consensus estimate of $467.46 million. CoreCivic had a net margin of 6.46% and a return on equity of 4.27%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. As a group, equities research analysts expect that CoreCivic, Inc. will post 1.39 earnings per share for the current year.

CoreCivic Profile

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.