GAMMA Investing LLC Increases Position in CoreCivic, Inc. $CXW

GAMMA Investing LLC raised its position in CoreCivic, Inc. (NYSE:CXW) by 9.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,667 shares of the real estate investment trust’s stock after purchasing an additional 511 shares during the period. GAMMA Investing LLC’s holdings in CoreCivic were worth $119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Harbour Investments Inc. grew 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 valued at $108,000 after buying an additional 3,646 shares during the last quarter. Harvest Fund Management Co. Ltd grew 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 valued at $187,000 after buying an additional 2,113 shares during the last quarter. SCS Capital Management LLC purchased a new position in shares of CoreCivic in the 1st quarter valued at $203,000. Fortitude Advisory Group L.L.C. purchased a new position in shares of CoreCivic in the 1st quarter valued at $307,000. Finally, Natixis Advisors LLC grew its position in shares of CoreCivic by 63.1% in the 1st quarter. Natixis Advisors LLC now owns 16,461 shares of the real estate investment trust’s stock valued at $334,000 after buying an additional 6,369 shares during the last quarter. 85.13% of the stock is owned by hedge funds and other institutional investors.

CoreCivic Stock Down 5.6%

CXW stock opened at $20.34 on Wednesday. CoreCivic, Inc. has a one year low of $12.24 and a one year high of $24.99. The stock has a market capitalization of $2.18 billion, a PE ratio of 21.64 and a beta of 0.81. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.60 and a current ratio of 1.60. The company has a fifty day moving average of $20.48 and a 200-day moving average of $21.05.

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 company had revenue of $538.17 million during the quarter, compared to analysts’ expectations of $499.02 million. During the same quarter last year, the business earned $0.42 EPS. The business’s revenue was up 9.8% on a year-over-year basis. As a group, analysts expect that CoreCivic, Inc. will post 1.5 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on CXW. Jones Trading reaffirmed a “buy” rating and issued a $30.00 target price on shares of CoreCivic in a research report on Thursday, August 7th. Wedbush reaffirmed an “outperform” rating and issued a $38.00 target price on shares of CoreCivic in a research report on Wednesday, June 11th. Finally, Wall Street Zen raised shares of CoreCivic from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, CoreCivic currently has a consensus rating of “Buy” and a consensus target price of $33.33.

Insider Buying and Selling at CoreCivic

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

CoreCivic Company 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.