Bank of America Corp DE Acquires 7,242 Shares of CoreCivic, Inc. (NYSE:CXW)

Bank of America Corp DE boosted its holdings in shares of CoreCivic, Inc. (NYSE:CXW) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 144,807 shares of the real estate investment trust’s stock after purchasing an additional 7,242 shares during the quarter. Bank of America Corp DE owned about 0.13% of CoreCivic worth $3,148,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CXW. Barclays PLC raised its holdings in shares of CoreCivic by 312.4% in the 3rd quarter. Barclays PLC now owns 184,332 shares of the real estate investment trust’s stock worth $2,331,000 after buying an additional 139,631 shares in the last quarter. KBC Group NV increased its holdings in CoreCivic by 57.3% during the 4th quarter. KBC Group NV now owns 5,477 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 1,995 shares in the last quarter. Caprock Group LLC acquired a new stake in CoreCivic during the 4th quarter valued at $220,000. Guidance Capital Inc. acquired a new stake in CoreCivic during the 4th quarter valued at $444,000. Finally, Tandem Financial LLC bought a new position in CoreCivic in the 4th quarter valued at $573,000. Institutional investors and hedge funds own 85.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CXW shares. Noble Financial upgraded CoreCivic from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 12th. Wedbush restated an “outperform” rating and issued a $30.00 price target on shares of CoreCivic in a research report on Tuesday, February 11th. Finally, Wall Street Zen lowered CoreCivic from a “buy” rating to a “hold” rating in a research report on Sunday.

CoreCivic Stock Up 0.4%

Shares of CXW stock opened at $22.00 on Friday. The firm has a market capitalization of $2.40 billion, a P/E ratio of 36.07 and a beta of 0.79. The firm’s fifty day moving average price is $21.60 and its two-hundred day moving average price is $21.03. CoreCivic, Inc. has a 1 year low of $10.74 and a 1 year high of $24.99. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 0.65.

CoreCivic (NYSE:CXW) last issued its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.10. The company had revenue of $488.60 million during the quarter, compared to analysts’ expectations of $478.49 million. CoreCivic had a return on equity of 5.97% and a net margin of 3.51%. The business’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 earnings per share. On average, equities analysts predict that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

Insider Activity

In other news, EVP Lucibeth Mayberry sold 75,000 shares of CoreCivic stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $21.49, for a total transaction of $1,611,750.00. Following the sale, the executive vice president now directly owns 211,232 shares of the company’s stock, valued at approximately $4,539,375.68. This trade represents a 26.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Anthony L. Grande sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $22.22, for a total transaction of $222,200.00. Following the sale, the executive vice president now directly owns 180,559 shares in the company, valued at $4,012,020.98. The trade was a 5.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,246 shares of company stock worth $4,061,215. Insiders own 2.30% of the company’s stock.

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.