SG Americas Securities LLC Acquires 216,101 Shares of CoreCivic, Inc. $CXW

SG Americas Securities LLC raised its holdings in shares of CoreCivic, Inc. (NYSE:CXW) by 1,602.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 229,584 shares of the real estate investment trust’s stock after purchasing an additional 216,101 shares during the period. SG Americas Securities LLC’s holdings in CoreCivic were worth $4,672,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Allianz Asset Management GmbH lifted its holdings in shares of CoreCivic by 0.5% during the second quarter. Allianz Asset Management GmbH now owns 1,631,483 shares of the real estate investment trust’s stock valued at $34,375,000 after purchasing an additional 8,683 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in CoreCivic by 361.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust’s stock worth $26,562,000 after buying an additional 987,375 shares in the last quarter. Rubric Capital Management LP raised its position in CoreCivic by 107.0% in the 2nd quarter. Rubric Capital Management LP now owns 815,280 shares of the real estate investment trust’s stock worth $17,178,000 after buying an additional 421,391 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in CoreCivic by 104.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 672,179 shares of the real estate investment trust’s stock valued at $14,163,000 after acquiring an additional 344,083 shares during the period. Finally, Shay Capital LLC boosted its holdings in shares of CoreCivic by 67.3% during the 2nd quarter. Shay Capital LLC now owns 659,936 shares of the real estate investment trust’s stock valued at $13,905,000 after acquiring an additional 265,418 shares during the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CXW. Weiss Ratings reiterated a “hold (c+)” rating on shares of CoreCivic in a research note on Wednesday, October 8th. Jones Trading reissued a “buy” rating and set a $30.00 price target on shares of CoreCivic in a report on Friday, November 7th. Finally, Wall Street Zen downgraded CoreCivic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, CoreCivic presently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

CoreCivic Trading Up 2.9%

Shares of CoreCivic stock opened at $20.28 on Friday. The company’s fifty day simple moving average is $18.36 and its 200-day simple moving average is $19.54. The stock has a market capitalization of $2.12 billion, a PE ratio of 20.48 and a beta of 0.69. CoreCivic, Inc. has a 1-year low of $15.95 and a 1-year high of $23.85. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41.

CoreCivic (NYSE:CXW) last announced its earnings results on Wednesday, November 5th. The real estate investment trust reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. The company had revenue of $580.44 million for the quarter, compared to analysts’ expectations of $544.38 million. CoreCivic had a return on equity of 7.38% and a net margin of 5.24%.CoreCivic’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the firm earned $0.43 EPS. CoreCivic has set its FY 2025 guidance at 1.940-2.000 EPS. As a group, equities analysts anticipate that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

CoreCivic declared that its Board of Directors has initiated a share buyback plan on Monday, November 10th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 10.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

CoreCivic Profile

CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.