CoreCivic, Inc. $CXW Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management grew its position in shares of CoreCivic, Inc. (NYSE:CXW) by 158.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 97,483 shares of the real estate investment trust’s stock after purchasing an additional 59,834 shares during the quarter. Ritholtz Wealth Management’s holdings in CoreCivic were worth $2,054,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 470 shares during the period. Woodmont Investment Counsel LLC purchased a new position in shares of CoreCivic during the 1st quarter worth about $514,000. Teacher Retirement System of Texas lifted its holdings in shares of CoreCivic by 89.6% during the 1st quarter. Teacher Retirement System of Texas now owns 399,537 shares of the real estate investment trust’s stock worth $8,107,000 after acquiring an additional 188,778 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of CoreCivic by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 547,061 shares of the real estate investment trust’s stock worth $11,100,000 after acquiring an additional 12,374 shares during the period. Finally, Hourglass Capital LLC lifted its holdings in shares of CoreCivic by 34.4% during the 1st quarter. Hourglass Capital LLC now owns 163,170 shares of the real estate investment trust’s stock worth $3,311,000 after acquiring an additional 41,790 shares during the period. 85.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CXW. Wall Street Zen upgraded shares of CoreCivic from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of CoreCivic in a report on Wednesday, October 8th. Finally, Jones Trading reiterated a “buy” rating and set a $30.00 price objective on shares of CoreCivic in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, CoreCivic has an average rating of “Moderate Buy” and a consensus target price of $33.33.

Insider Buying and Selling

In other news, Director Thurgood Marshall, Jr. sold 6,000 shares of CoreCivic stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $20.52, for a total transaction of $123,120.00. Following the sale, the director owned 44,023 shares in the company, valued at $903,351.96. This trade represents a 11.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Anthony L. Grande sold 22,500 shares of CoreCivic stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $21.18, for a total transaction of $476,550.00. Following the sale, the executive vice president owned 135,559 shares in the company, valued at $2,871,139.62. This represents a 14.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,000 shares of company stock worth $1,042,545 in the last quarter. Insiders own 2.30% of the company’s stock.

CoreCivic Trading Down 1.3%

NYSE CXW opened at $17.74 on Friday. CoreCivic, Inc. has a one year low of $12.66 and a one year high of $24.99. The company’s 50 day moving average price is $20.18 and its 200 day moving average price is $20.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 18.87 and a beta of 0.75.

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

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.