Alliancebernstein L.P. cut its holdings in shares of Corrections Corp. of America (NYSE:CXW) by 45.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 101,641 shares of the real estate investment trust’s stock after selling 86,060 shares during the quarter. Alliancebernstein L.P. owned about 0.09% of Corrections Corp. of America worth $2,803,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CXW. UBS Asset Management Americas Inc. grew its holdings in shares of Corrections Corp. of America by 15.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 111,980 shares of the real estate investment trust’s stock worth $3,518,000 after purchasing an additional 15,297 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Corrections Corp. of America by 612.1% during the 1st quarter. JPMorgan Chase & Co. now owns 399,439 shares of the real estate investment trust’s stock worth $12,550,000 after purchasing an additional 343,347 shares during the period. Stifel Financial Corp grew its holdings in shares of Corrections Corp. of America by 37.9% during the 1st quarter. Stifel Financial Corp now owns 23,736 shares of the real estate investment trust’s stock worth $744,000 after purchasing an additional 6,519 shares during the period. SG Americas Securities LLC grew its holdings in shares of Corrections Corp. of America by 329.9% during the 1st quarter. SG Americas Securities LLC now owns 21,532 shares of the real estate investment trust’s stock worth $677,000 after purchasing an additional 16,523 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Corrections Corp. of America during the 1st quarter worth $1,803,000. Institutional investors and hedge funds own 86.17% of the company’s stock.

Corrections Corp. of America (NYSE:CXW) opened at 25.98 on Thursday. Corrections Corp. of America has a 12-month low of $12.99 and a 12-month high of $35.33. The stock’s 50 day moving average price is $25.98 and its 200-day moving average price is $28.84. The stock has a market capitalization of $3.07 billion, a PE ratio of 14.46 and a beta of 0.92.

Corrections Corp. of America (NYSE:CXW) last posted its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.23. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. The firm had revenue of $436.39 million during the quarter, compared to the consensus estimate of $437.92 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. Analysts expect that Corrections Corp. of America will post $1.52 earnings per share for the current year.

The company 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 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date is Friday, September 29th. Corrections Corp. of America’s dividend payout ratio (DPR) is presently 93.86%.

A number of equities analysts have recently weighed in on CXW shares. Zacks Investment Research upgraded Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Friday, August 4th. TheStreet cut Corrections Corp. of America from a “b-” rating to a “c+” rating in a report on Monday, August 21st. ValuEngine cut Corrections Corp. of America from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Canaccord Genuity set a $36.00 price target on Corrections Corp. of America and gave the stock a “buy” rating in a report on Monday, August 7th. Finally, BidaskClub cut Corrections Corp. of America from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Corrections Corp. of America presently has an average rating of “Buy” and a consensus target price of $34.25.

In other Corrections Corp. of America news, Director Thurgood Marshall, Jr. sold 2,360 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $25.90, for a total transaction of $61,124.00. Following the completion of the sale, the director now owns 31,083 shares of the company’s stock, valued at $805,049.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David Garfinkle sold 10,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $25.90, for a total value of $259,000.00. Following the sale, the chief financial officer now directly owns 90,114 shares of the company’s stock, valued at approximately $2,333,952.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,360 shares of company stock valued at $451,474. 1.30% of the stock is owned by company insiders.

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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.

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

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