Connor Clark & Lunn Investment Management Ltd. Increases Stake in CoreCivic, Inc. (NYSE:CXW)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of CoreCivic, Inc. (NYSE:CXW) by 57.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 206,965 shares of the real estate investment trust’s stock after buying an additional 75,470 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in CoreCivic were worth $4,199,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CXW. Copia Wealth Management purchased a new stake in CoreCivic during the 4th quarter worth approximately $82,000. Russell Investments Group Ltd. increased its stake in CoreCivic by 86,300.0% during the 4th quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 4,315 shares during the period. GAMMA Investing LLC increased its stake in CoreCivic by 10.0% during the 1st quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 470 shares during the period. Harbour Investments Inc. increased its stake in CoreCivic by 215.6% during the 1st quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust’s stock worth $108,000 after buying an additional 3,646 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its stake in CoreCivic by 29.6% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 9,250 shares of the real estate investment trust’s stock worth $187,000 after buying an additional 2,113 shares during the period. 85.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CoreCivic

In other news, EVP Anthony L. Grande sold 10,000 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $22.22, for a total value of $222,200.00. Following the completion of the transaction, the executive vice president owned 180,559 shares in the company, valued at approximately $4,012,020.98. This represents a 5.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Damon T. Hininger sold 72,246 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $22.50, for a total transaction of $1,625,535.00. Following the completion of the transaction, the chief executive officer owned 879,324 shares of the company’s stock, valued at approximately $19,784,790. The trade was a 7.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,246 shares of company stock worth $2,449,465. Corporate insiders own 2.30% of the company’s stock.

CoreCivic Trading Down 0.3%

Shares of NYSE:CXW opened at $20.64 on Thursday. CoreCivic, Inc. has a 52 week low of $12.13 and a 52 week high of $24.99. The company’s 50 day moving average is $20.83 and its two-hundred day moving average is $20.67. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.68. The company has a market cap of $2.21 billion, a PE ratio of 21.96 and a beta of 0.80.

CoreCivic (NYSE:CXW) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The company had revenue of $538.17 million for the quarter, compared to the consensus estimate of $499.02 million. During the same period in the prior year, the firm posted $0.42 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts predict that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CXW. Wedbush reaffirmed an “outperform” rating and set a $38.00 target price on shares of CoreCivic in a research note on Wednesday, June 11th. Wall Street Zen raised shares of CoreCivic from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Finally, Jones Trading reissued a “buy” rating and issued a $30.00 price objective on shares of CoreCivic in a research report on Thursday, August 7th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $33.33.

CoreCivic Profile

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions.