Ritholtz Wealth Management Takes Position in CoreCivic, Inc. (NYSE:CXW)

Ritholtz Wealth Management acquired a new position in CoreCivic, Inc. (NYSE:CXW) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 37,649 shares of the real estate investment trust’s stock, valued at approximately $764,000.

Several other large investors have also recently made changes to their positions in the stock. Millennium Management LLC boosted its stake in CoreCivic by 88.4% in the 4th quarter. Millennium Management LLC now owns 1,261,944 shares of the real estate investment trust’s stock worth $27,435,000 after purchasing an additional 592,070 shares in the last quarter. Cooper Creek Partners Management LLC grew its stake in CoreCivic by 9.9% in the 4th quarter. Cooper Creek Partners Management LLC now owns 6,127,227 shares of the real estate investment trust’s stock valued at $133,206,000 after acquiring an additional 553,336 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of CoreCivic during the fourth quarter worth about $11,733,000. Forest Avenue Capital Management LP acquired a new position in shares of CoreCivic during the fourth quarter valued at approximately $11,205,000. Finally, Voloridge Investment Management LLC acquired a new position in CoreCivic in the 4th quarter valued at $11,194,000. 85.13% of the stock is owned by institutional investors.

CoreCivic Stock Up 0.7%

CXW opened at $20.62 on Thursday. The business has a 50 day simple moving average of $21.95 and a 200-day simple moving average of $21.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market capitalization of $2.25 billion, a P/E ratio of 27.13 and a beta of 0.79. CoreCivic, Inc. has a 12 month low of $11.23 and a 12 month high of $24.99.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.10. CoreCivic had a return on equity of 5.75% and a net margin of 4.33%. The company had revenue of $488.60 million for the quarter, compared to the consensus estimate of $478.49 million. During the same period in the previous year, the business earned $0.46 earnings per share. CoreCivic’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts anticipate that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling at CoreCivic

In related news, CEO Damon T. Hininger sold 72,246 shares of CoreCivic stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $22.50, for a total transaction of $1,625,535.00. Following the completion of the sale, the chief executive officer now owns 879,324 shares in the company, valued at approximately $19,784,790. This trade represents a 7.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Anthony L. Grande sold 10,000 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $22.22, for a total value of $222,200.00. Following the completion of the transaction, the executive vice president now owns 180,559 shares of the company’s stock, valued at $4,012,020.98. This trade represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,246 shares of company stock valued at $4,061,215 over the last quarter. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen raised CoreCivic from a “hold” rating to a “buy” rating in a research note on Monday, June 9th. Wedbush reiterated an “outperform” rating and issued a $38.00 price objective on shares of CoreCivic in a report on Wednesday, June 11th.

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.