Vanguard Group Inc. Has $247.85 Million Stock Position in CoreCivic, Inc. $CXW

Vanguard Group Inc. grew its position in CoreCivic, Inc. (NYSE:CXW) by 2.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 12,215,492 shares of the real estate investment trust’s stock after buying an additional 267,198 shares during the period. Vanguard Group Inc. owned 11.17% of CoreCivic worth $247,852,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Copia Wealth Management acquired a new stake in shares of CoreCivic in the 4th quarter valued at $82,000. Russell Investments Group Ltd. boosted its position in shares of CoreCivic by 86,300.0% in the 4th quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 4,315 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of CoreCivic by 10.0% in the 1st quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 470 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of CoreCivic by 215.6% in the 1st quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust’s stock worth $108,000 after purchasing an additional 3,646 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of CoreCivic by 29.6% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 9,250 shares of the real estate investment trust’s stock worth $187,000 after purchasing an additional 2,113 shares during the last quarter. 85.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CXW. Wall Street Zen upgraded CoreCivic from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Jones Trading restated a “buy” rating and issued a $30.00 price target on shares of CoreCivic in a research report on Thursday, August 7th. Finally, Wedbush restated an “outperform” rating and issued a $38.00 price target on shares of CoreCivic in a research report on Wednesday, June 11th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $33.33.

Insider Activity

In other news, CEO Damon T. Hininger sold 72,246 shares of the business’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $22.50, for a total value of $1,625,535.00. Following the sale, the chief executive officer directly owned 879,324 shares in the company, valued at $19,784,790. The trade was a 7.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stacia Hylton sold 4,000 shares of the business’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $21.69, for a total value of $86,760.00. Following the completion of the sale, the director owned 82,969 shares in the company, valued at approximately $1,799,597.61. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

CoreCivic Stock Performance

CXW stock opened at $20.65 on Tuesday. The business’s 50-day moving average price is $20.75 and its two-hundred day moving average price is $20.68. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.68. The firm has a market cap of $2.21 billion, a PE ratio of 21.97 and a beta of 0.80. CoreCivic, Inc. has a 1-year low of $12.13 and a 1-year high of $24.99.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.16. The firm had revenue of $538.17 million for the quarter, compared to analyst estimates of $499.02 million. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. As a group, research analysts forecast that CoreCivic, Inc. will post 1.5 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.