Inceptionr LLC purchased a new stake in CoreCivic, Inc. (NYSE:CXW – Free Report) in the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 19,489 shares of the real estate investment trust’s stock, valued at approximately $369,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in CoreCivic by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust’s stock worth $242,955,000 after acquiring an additional 138,846 shares during the last quarter. Lee Danner & Bass Inc. grew its position in shares of CoreCivic by 20.1% in the 4th quarter. Lee Danner & Bass Inc. now owns 582,558 shares of the real estate investment trust’s stock valued at $11,133,000 after acquiring an additional 97,413 shares during the period. KCM Capital Inc bought a new position in CoreCivic during the first quarter worth about $10,400,000. Aberdeen Group plc boosted its stake in shares of CoreCivic by 60.1% during the 4th quarter. Aberdeen Group plc now owns 968,300 shares of the real estate investment trust’s stock worth $18,504,000 after acquiring an additional 363,526 shares during the period. Finally, Kestrel Investment Management Corp bought a new position in CoreCivic during the fourth quarter worth $5,601,000. 85.13% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CXW has been the subject of a number of research analyst reports. Northland Securities set a $40.00 price objective on CoreCivic in a report on Friday, June 26th. Noble Financial raised their target price on shares of CoreCivic from $28.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Benchmark raised their price target on CoreCivic from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen raised shares of CoreCivic from a “hold” rating to a “buy” rating in a report on Saturday. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $36.20.
CoreCivic Stock Down 0.2%
Shares of CXW opened at $31.28 on Monday. The stock’s 50-day moving average price is $27.32 and its two-hundred day moving average price is $22.16. CoreCivic, Inc. has a 12 month low of $15.73 and a 12 month high of $32.69. The company has a market capitalization of $3.09 billion, a PE ratio of 25.43 and a beta of 0.57. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.99.
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.
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