State of Alaska Department of Revenue Grows Stake in CoreCivic, Inc. $CXW

State of Alaska Department of Revenue increased its stake in CoreCivic, Inc. (NYSE:CXW) by 6.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,999 shares of the real estate investment trust’s stock after acquiring an additional 4,126 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of CoreCivic worth $1,369,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in CoreCivic by 10.0% in the first 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. lifted its stake in CoreCivic by 215.6% in the first 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. Harvest Fund Management Co. Ltd lifted its stake in CoreCivic by 29.6% in the first 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. SCS Capital Management LLC bought a new stake in CoreCivic in the first quarter worth about $203,000. Finally, Fortitude Advisory Group L.L.C. bought a new stake in CoreCivic in the first quarter worth about $307,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CXW shares. Wall Street Zen raised shares of CoreCivic from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Jones Trading reissued a “buy” rating and issued a $30.00 price objective on shares of CoreCivic in a research note on Thursday, August 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of CoreCivic in a research note on Saturday, September 27th. Finally, Wedbush reaffirmed an “outperform” rating and set a $38.00 price target on shares of CoreCivic in a research note on Wednesday, June 11th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.33.

CoreCivic Stock Performance

CoreCivic stock opened at $19.81 on Friday. The company has a 50 day moving average price of $20.46 and a 200-day moving average price of $21.05. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.60 and a current ratio of 1.60. CoreCivic, Inc. has a fifty-two week low of $12.33 and a fifty-two week high of $24.99. The company has a market capitalization of $2.12 billion, a PE ratio of 21.07 and a beta of 0.75.

CoreCivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $499.02 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. As a group, equities analysts forecast that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

Insider Activity at CoreCivic

In related news, Director Thurgood Marshall, Jr. sold 6,000 shares of CoreCivic 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 transaction, the director directly owned 44,023 shares of the company’s stock, valued at $903,351.96. This trade represents a 11.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Anthony L. Grande sold 22,500 shares of CoreCivic stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $21.18, for a total transaction 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. The trade was a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,000 shares of company stock worth $1,042,545. 2.30% of the stock is currently owned by corporate insiders.

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.