Voya Investment Management LLC Reduces Stock Position in CoreCivic, Inc. $CXW

Voya Investment Management LLC trimmed its stake in CoreCivic, Inc. (NYSE:CXW) by 20.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 254,851 shares of the real estate investment trust’s stock after selling 65,422 shares during the period. Voya Investment Management LLC owned 0.23% of CoreCivic worth $5,171,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CXW. Copia Wealth Management purchased a new stake in shares of CoreCivic in the 4th quarter worth about $82,000. GAMMA Investing LLC lifted its position in CoreCivic by 10.0% during the 1st quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 470 shares during the period. Harbour Investments Inc. lifted its position in CoreCivic by 215.6% during the 1st quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust’s stock valued at $108,000 after acquiring an additional 3,646 shares during the period. Harvest Fund Management Co. Ltd lifted its position in CoreCivic by 29.6% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 9,250 shares of the real estate investment trust’s stock valued at $187,000 after acquiring an additional 2,113 shares during the period. Finally, SCS Capital Management LLC purchased a new position in CoreCivic during the 1st quarter valued at about $203,000. 85.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CXW has been the subject of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $38.00 price target on shares of CoreCivic in a research report on Wednesday, June 11th. Jones Trading restated a “buy” rating and set a $30.00 price objective on shares of CoreCivic in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of CoreCivic from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $33.33.

Insiders Place Their Bets

In other news, EVP Anthony L. Grande sold 22,500 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $21.18, for a total value of $476,550.00. Following the transaction, the executive vice president directly owned 135,559 shares in the company, valued at approximately $2,871,139.62. This represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thurgood Marshall, Jr. sold 6,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $20.52, for a total transaction of $123,120.00. Following the completion of the transaction, the director owned 44,023 shares in the company, valued at approximately $903,351.96. The trade was a 11.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,000 shares of company stock worth $1,042,545 in the last quarter. Company insiders own 2.30% of the company’s stock.

CoreCivic Price Performance

Shares of NYSE:CXW opened at $20.91 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. CoreCivic, Inc. has a 1-year low of $12.24 and a 1-year high of $24.99. The company has a market capitalization of $2.24 billion, a P/E ratio of 22.24 and a beta of 0.81. The firm’s 50 day simple moving average is $20.46 and its two-hundred day simple moving average is $20.93.

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

About CoreCivic

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.