Mondrian Investment Partners LTD boosted its position in Corrections Corp. of America (NYSE:CXW) by 4.4% during the second quarter, Holdings Channel reports. The institutional investor owned 123,402 shares of the real estate investment trust’s stock after buying an additional 5,242 shares during the period. Mondrian Investment Partners LTD’s holdings in Corrections Corp. of America were worth $3,403,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CXW. Hartford Investment Management Co. purchased a new stake in shares of Corrections Corp. of America during the first quarter worth about $1,505,000. State Street Corp bought a new position in Corrections Corp. of America during the first quarter worth $100,342,000. Morgan Stanley raised its position in Corrections Corp. of America by 78.6% in the first quarter. Morgan Stanley now owns 751,496 shares of the real estate investment trust’s stock worth $23,612,000 after buying an additional 330,634 shares during the period. State of Alaska Department of Revenue raised its position in Corrections Corp. of America by 27.2% in the first quarter. State of Alaska Department of Revenue now owns 56,440 shares of the real estate investment trust’s stock worth $1,773,000 after buying an additional 12,060 shares during the period. Finally, Teachers Advisors LLC raised its position in Corrections Corp. of America by 46.4% in the fourth quarter. Teachers Advisors LLC now owns 247,185 shares of the real estate investment trust’s stock worth $6,046,000 after buying an additional 78,389 shares during the period. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

Corrections Corp. of America (CXW) opened at 25.99 on Friday. The firm’s 50-day moving average price is $27.58 and its 200-day moving average price is $30.65. Corrections Corp. of America has a 1-year low of $12.99 and a 1-year high of $35.33. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 14.46 and a beta of 0.92.

Corrections Corp. of America (NYSE:CXW) last released its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.23. The company had revenue of $436.39 million during the quarter, compared to the consensus estimate of $437.92 million. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. Corrections Corp. of America’s revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. On average, equities research analysts anticipate that Corrections Corp. of America will post $1.54 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.46%. The ex-dividend date is Friday, September 29th. Corrections Corp. of America’s payout ratio is 93.86%.

COPYRIGHT VIOLATION WARNING: “Corrections Corp. of America (CXW) Shares Bought by Mondrian Investment Partners LTD” was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this story on another domain, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this story can be viewed at https://www.dailypolitical.com/2017/08/12/corrections-corp-of-america-cxw-shares-bought-by-mondrian-investment-partners-ltd.html.

A number of equities analysts have weighed in on the company. Zacks Investment Research raised Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Thursday, April 20th. Canaccord Genuity reissued a “buy” rating and set a $34.00 price objective on shares of Corrections Corp. of America in a research note on Wednesday, May 3rd. BidaskClub lowered Corrections Corp. of America from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Deutsche Bank AG lowered their price objective on Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, ValuEngine raised Corrections Corp. of America from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $30.25.

In other Corrections Corp. of America news, EVP Lucibeth Mayberry sold 6,236 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $30.41, for a total transaction of $189,636.76. Following the completion of the transaction, the executive vice president now owns 51,851 shares of the company’s stock, valued at $1,576,788.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Anthony L. Grande sold 23,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $33.86, for a total value of $778,780.00. Following the transaction, the executive vice president now directly owns 39,510 shares of the company’s stock, valued at approximately $1,337,808.60. The disclosure for this sale can be found here. Insiders have sold 34,236 shares of company stock valued at $1,121,117 in the last three months. 1.30% of the stock is currently owned by company insiders.

Corrections Corp. of America Company Profile

CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.

Want to see what other hedge funds are holding CXW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corrections Corp. of America (NYSE:CXW).

Institutional Ownership by Quarter for Corrections Corp. of America (NYSE:CXW)

Receive News & Ratings for Corrections Corp. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corrections Corp. of America and related companies with MarketBeat.com's FREE daily email newsletter.