Turiya Advisors Asia Ltd Acquires Shares of 479,000 CoreCivic, Inc. $CXW

Turiya Advisors Asia Ltd acquired a new stake in CoreCivic, Inc. (NYSE:CXW) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 479,000 shares of the real estate investment trust’s stock, valued at approximately $9,748,000. CoreCivic makes up 2.6% of Turiya Advisors Asia Ltd’s holdings, making the stock its 4th biggest holding. Turiya Advisors Asia Ltd owned 0.46% of CoreCivic as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Counterpoint Mutual Funds LLC grew its stake in CoreCivic by 442.6% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 106,895 shares of the real estate investment trust’s stock valued at $2,175,000 after acquiring an additional 87,194 shares during the period. AXQ Capital LP acquired a new position in CoreCivic during the third quarter worth $214,000. Vestmark Advisory Solutions Inc. purchased a new position in CoreCivic during the third quarter valued at $221,000. Guidance Capital Inc. lifted its holdings in CoreCivic by 5.0% during the third quarter. Guidance Capital Inc. now owns 26,749 shares of the real estate investment trust’s stock valued at $502,000 after purchasing an additional 1,274 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of CoreCivic by 1.5% in the third quarter. Vanguard Group Inc. now owns 12,574,673 shares of the real estate investment trust’s stock valued at $255,895,000 after purchasing an additional 183,923 shares during the period. 85.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CXW. JonesTrading restated a “buy” rating and set a $30.00 price target on shares of CoreCivic in a research report on Friday, February 13th. Wall Street Zen upgraded CoreCivic from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

CoreCivic Trading Up 4.2%

CXW opened at $17.16 on Thursday. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 15.89 and a beta of 0.71. The company’s 50 day simple moving average is $18.97 and its two-hundred day simple moving average is $19.09. CoreCivic, Inc. has a 1-year low of $15.73 and a 1-year high of $23.54. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.66 and a quick ratio of 1.41.

CoreCivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.16). CoreCivic had a net margin of 5.27% and a return on equity of 8.17%. The company had revenue of $603.95 million during the quarter, compared to analyst estimates of $585.12 million. During the same period in the prior year, the business posted $0.39 EPS. CoreCivic’s revenue for the quarter was up 26.0% compared to the same quarter last year. Analysts expect that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

CoreCivic announced that its Board of Directors has initiated a share buyback plan on Monday, November 10th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the real estate investment trust to buy up to 10.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

About CoreCivic

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.