HighTower Advisors LLC acquired a new stake in shares of Corrections Corp. of America (NYSE:CXW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,986 shares of the real estate investment trust’s stock, valued at approximately $439,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CXW. UBS Asset Management Americas Inc. lifted its holdings in Corrections Corp. of America by 15.8% during the first quarter. UBS Asset Management Americas Inc. now owns 111,980 shares of the real estate investment trust’s stock valued at $3,518,000 after purchasing an additional 15,297 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Corrections Corp. of America by 612.1% in the first quarter. JPMorgan Chase & Co. now owns 399,439 shares of the real estate investment trust’s stock worth $12,550,000 after buying an additional 343,347 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of Corrections Corp. of America by 37.9% in the first quarter. Stifel Financial Corp now owns 23,736 shares of the real estate investment trust’s stock worth $744,000 after buying an additional 6,519 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Corrections Corp. of America by 66.2% in the first quarter. Alliancebernstein L.P. now owns 187,701 shares of the real estate investment trust’s stock worth $5,898,000 after buying an additional 74,746 shares in the last quarter. Finally, Credit Agricole S A lifted its stake in shares of Corrections Corp. of America by 44.8% in the first quarter. Credit Agricole S A now owns 17,462 shares of the real estate investment trust’s stock worth $549,000 after buying an additional 5,403 shares in the last quarter. 86.17% of the stock is currently owned by institutional investors and hedge funds.

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In related news, 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 in the company, valued at approximately $2,333,952.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Emkes acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average price of $25.62 per share, for a total transaction of $128,100.00. Following the completion of the transaction, the director now directly owns 44,426 shares in the company, valued at $1,138,194.12. The disclosure for this purchase can be found here. Insiders sold a total of 27,360 shares of company stock worth $711,574 over the last quarter. Insiders own 1.30% of the company’s stock.

Corrections Corp. of America (CXW) opened at 25.99 on Friday. The stock has a 50 day moving average of $26.10 and a 200 day moving average of $28.63. Corrections Corp. of America has a 1-year low of $12.99 and a 1-year high of $35.33. The stock has a market capitalization of $3.07 billion, a P/E ratio of 14.46 and a beta of 0.92.

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

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Monday, October 2nd were given a $0.42 dividend. The ex-dividend date was Friday, September 29th. This represents a $1.68 annualized dividend and a dividend yield of 6.46%. Corrections Corp. of America’s dividend payout ratio is presently 93.86%.

CXW has been the topic of several research reports. Zacks Investment Research downgraded shares of Corrections Corp. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. ValuEngine raised shares of Corrections Corp. of America from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. BidaskClub downgraded shares of Corrections Corp. of America from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Canaccord Genuity set a $36.00 price target on shares of Corrections Corp. of America and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, Deutsche Bank AG decreased their price target on shares of Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $34.25.

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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