Millennium Management LLC Lowers Stake in CoreCivic, Inc. $CXW

Millennium Management LLC reduced its position in shares of CoreCivic, Inc. (NYSE:CXW) by 9.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,145,504 shares of the real estate investment trust’s stock after selling 116,440 shares during the quarter. Millennium Management LLC owned 1.05% of CoreCivic worth $23,242,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of CoreCivic by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 12,215,492 shares of the real estate investment trust’s stock worth $247,852,000 after acquiring an additional 267,198 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of CoreCivic by 7.3% during the 1st quarter. Allianz Asset Management GmbH now owns 1,622,800 shares of the real estate investment trust’s stock worth $32,927,000 after acquiring an additional 109,769 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of CoreCivic by 35.4% during the 1st quarter. Wellington Management Group LLP now owns 1,073,573 shares of the real estate investment trust’s stock worth $21,783,000 after acquiring an additional 280,495 shares in the last quarter. Invenomic Capital Management LP boosted its stake in shares of CoreCivic by 99.5% during the 1st quarter. Invenomic Capital Management LP now owns 907,390 shares of the real estate investment trust’s stock worth $18,411,000 after acquiring an additional 452,559 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of CoreCivic by 3.0% during the 1st quarter. Raymond James Financial Inc. now owns 555,671 shares of the real estate investment trust’s stock worth $11,275,000 after acquiring an additional 15,996 shares in the last quarter. 85.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Thurgood Marshall, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $20.52, for a total transaction of $123,120.00. Following the completion of the sale, the director owned 44,023 shares in the company, valued at $903,351.96. This trade represents a 11.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Anthony L. Grande sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $21.18, for a total transaction of $476,550.00. Following the sale, the executive vice president owned 135,559 shares of the company’s stock, valued at $2,871,139.62. This represents a 14.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,000 shares of company stock valued at $1,042,545 in the last 90 days. Insiders own 2.30% of the company’s stock.

CoreCivic Trading Down 1.5%

CXW opened at $21.09 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60. The company’s 50 day simple moving average is $20.58 and its two-hundred day simple moving average is $20.86. CoreCivic, Inc. has a 1-year low of $12.24 and a 1-year high of $24.99. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 22.44 and a beta of 0.81.

CoreCivic (NYSE:CXW) last announced its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. The business had revenue of $538.17 million during the quarter, compared to the consensus estimate of $499.02 million. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 EPS. Analysts expect that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

Analysts Set New Price Targets

CXW has been the topic of a number of research reports. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price target on shares of CoreCivic in a research note on Wednesday, June 11th. Wall Street Zen raised shares of CoreCivic from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Finally, Jones Trading reaffirmed a “buy” rating and issued a $30.00 price target on shares of CoreCivic in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, CoreCivic presently has a consensus rating of “Buy” and a consensus price target of $33.33.

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.