Vanguard Group Inc. Has $255.90 Million Stock Holdings in CoreCivic, Inc. $CXW

Vanguard Group Inc. lifted its stake in shares of CoreCivic, Inc. (NYSE:CXW) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,574,673 shares of the real estate investment trust’s stock after purchasing an additional 183,923 shares during the quarter. Vanguard Group Inc. owned 11.75% of CoreCivic worth $255,895,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Allianz Asset Management GmbH grew its stake in CoreCivic by 13.8% during the third quarter. Allianz Asset Management GmbH now owns 1,856,230 shares of the real estate investment trust’s stock worth $37,774,000 after buying an additional 224,747 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in shares of CoreCivic by 361.3% during 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 acquiring an additional 987,375 shares in the last quarter. Rubric Capital Management LP increased its stake in CoreCivic by 107.0% in the second quarter. Rubric Capital Management LP now owns 815,280 shares of the real estate investment trust’s stock valued at $17,178,000 after acquiring an additional 421,391 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in CoreCivic by 104.9% in the second 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 last quarter. Finally, Shay Capital LLC raised its position in CoreCivic by 67.3% during the second quarter. Shay Capital LLC now owns 659,936 shares of the real estate investment trust’s stock valued at $13,905,000 after purchasing an additional 265,418 shares in the last quarter. Institutional investors and hedge funds own 85.13% of the company’s stock.

CoreCivic Stock Performance

NYSE CXW opened at $17.65 on Friday. The firm’s fifty day moving average price is $18.90 and its two-hundred day moving average price is $19.05. The stock has a market cap of $1.72 billion, a PE ratio of 16.35 and a beta of 0.71. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.41 and a current ratio of 1.66. CoreCivic, Inc. has a fifty-two week low of $15.73 and a fifty-two week high of $23.54.

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

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

Analysts Set New Price Targets

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

CoreCivic Company 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.