Bank of New York Mellon Corp Has $14.42 Million Stock Holdings in CoreCivic, Inc. (NYSE:CXW)

Bank of New York Mellon Corp lowered its position in CoreCivic, Inc. (NYSE:CXW) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 710,861 shares of the real estate investment trust’s stock after selling 24,739 shares during the period. Bank of New York Mellon Corp owned 0.65% of CoreCivic worth $14,423,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Woodmont Investment Counsel LLC acquired a new position in shares of CoreCivic in the 1st quarter valued at $514,000. Wedge Capital Management L L P NC raised its holdings in shares of CoreCivic by 29.3% in the 1st quarter. Wedge Capital Management L L P NC now owns 79,527 shares of the real estate investment trust’s stock valued at $1,614,000 after purchasing an additional 18,036 shares during the period. Principal Financial Group Inc. grew its stake in CoreCivic by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 547,061 shares of the real estate investment trust’s stock valued at $11,100,000 after buying an additional 12,374 shares during the last quarter. Nebula Research & Development LLC acquired a new position in CoreCivic in the 4th quarter valued at about $361,000. Finally, Teacher Retirement System of Texas acquired a new position in CoreCivic in the 4th quarter valued at about $4,582,000. Institutional investors and hedge funds own 85.13% of the company’s stock.

Insider Transactions at CoreCivic

In related news, COO Patrick D. Swindle sold 23,000 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $22.39, for a total transaction of $514,970.00. Following the sale, the chief operating officer directly owned 241,630 shares of the company’s stock, valued at approximately $5,410,095.70. This represents a 8.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Damon T. Hininger sold 72,246 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $22.50, for a total transaction of $1,625,535.00. Following the sale, the chief executive officer directly owned 879,324 shares in the company, valued at approximately $19,784,790. The trade was a 7.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,246 shares of company stock worth $4,061,215. 2.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of CoreCivic from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Jones Trading reaffirmed a “buy” rating and set a $30.00 price target on shares of CoreCivic in a research note on Friday. Finally, Wedbush restated an “outperform” rating and issued a $38.00 price target on shares of CoreCivic in a report on Wednesday, June 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CoreCivic presently has an average rating of “Moderate Buy” and a consensus target price of $33.33.

CoreCivic Price Performance

Shares of CoreCivic stock opened at $20.85 on Friday. CoreCivic, Inc. has a 52-week low of $11.82 and a 52-week high of $24.99. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 27.43 and a beta of 0.77. The company has a fifty day moving average of $21.55 and a 200-day moving average of $20.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.55 and a current ratio of 1.55.

CoreCivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.10. CoreCivic had a net margin of 4.33% and a return on equity of 5.75%. The company had revenue of $488.60 million during the quarter, compared to analyst estimates of $478.49 million. During the same period in the prior year, the business posted $0.46 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. Equities research analysts expect that CoreCivic, Inc. will post 1.5 EPS 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.