Corrections Corp. of America (CXW) Director Purchases $110,400.00 in Stock
Corrections Corp. of America (NYSE:CXW) Director Mark A. Emkes acquired 5,000 shares of the firm’s stock in a transaction dated Friday, November 25th. The stock was purchased at an average cost of $22.08 per share, with a total value of $110,400.00. Following the completion of the acquisition, the director now directly owns 35,755 shares of the company’s stock, valued at approximately $789,470.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Corrections Corp. of America (NYSE:CXW) opened at 22.71 on Thursday. Corrections Corp. of America has a one year low of $12.99 and a one year high of $35.05. The company’s 50 day moving average price is $16.80 and its 200 day moving average price is $24.04. The firm has a market capitalization of $2.67 billion, a P/E ratio of 12.90 and a beta of 0.77.
Corrections Corp. of America (NYSE:CXW) last released its quarterly earnings results on Wednesday, November 2nd. The real estate investment trust reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. The firm had revenue of $474.94 million for the quarter, compared to analyst estimates of $470.39 million. Corrections Corp. of America had a return on equity of 14.55% and a net margin of 11.34%. Corrections Corp. of America’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 EPS. On average, analysts expect that Corrections Corp. of America will post $2.60 EPS for the current fiscal year.
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A number of institutional investors have recently added to or reduced their stakes in CXW. Bloom Tree Partners LLC acquired a new stake in Corrections Corp. of America during the third quarter valued at about $21,685,000. Two Sigma Advisers LP increased its stake in Corrections Corp. of America by 2,361.7% in the third quarter. Two Sigma Advisers LP now owns 1,322,739 shares of the real estate investment trust’s stock valued at $18,346,000 after buying an additional 1,269,007 shares in the last quarter. Morgan Stanley increased its stake in Corrections Corp. of America by 688.2% in the third quarter. Morgan Stanley now owns 1,421,444 shares of the real estate investment trust’s stock valued at $19,715,000 after buying an additional 1,241,095 shares in the last quarter. Vanguard Group Inc. increased its stake in Corrections Corp. of America by 3.1% in the second quarter. Vanguard Group Inc. now owns 17,891,969 shares of the real estate investment trust’s stock valued at $626,576,000 after buying an additional 534,372 shares in the last quarter. Finally, Anson Funds Management LP acquired a new stake in Corrections Corp. of America during the third quarter valued at about $7,034,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the company. Canaccord Genuity decreased their price objective on Corrections Corp. of America from $34.00 to $30.00 and set a “hold” rating for the company in a report on Friday, August 5th. Zacks Investment Research raised Corrections Corp. of America from a “sell” rating to a “hold” rating in a report on Friday, August 5th. TheStreet downgraded Corrections Corp. of America from a “buy” rating to a “hold” rating in a report on Friday, August 12th. Wells Fargo & Co. reissued a “neutral” rating on shares of Corrections Corp. of America in a report on Sunday, August 21st. Finally, SunTrust Banks Inc. decreased their price objective on Corrections Corp. of America from $34.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, September 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $26.33.
About Corrections Corp. of America
Corrections Corporation of America is a real estate investment trust (REIT). The Company is engaged in owning, operating and managing prisons and other correctional facilities, and providing residential, community re-entry, and prisoner transportation services for governmental agencies. The Company’s facilities offer a range of rehabilitation and educational programs, including basic education, faith-based services, life skills and employment training, and substance abuse treatment.
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