Weiss Asset Management LP acquired a new stake in CoreCivic, Inc. (NYSE:CXW – Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 106,560 shares of the real estate investment trust’s stock, valued at approximately $2,015,000.
A number of other institutional investors also recently modified their holdings of CXW. NBC Securities Inc. boosted its stake in CoreCivic by 533.9% during the fourth quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 1,228 shares in the last quarter. Leonteq Securities AG bought a new stake in CoreCivic in the fourth quarter valued at $57,000. Smartleaf Asset Management LLC raised its holdings in shares of CoreCivic by 33.0% during the second quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 702 shares during the period. Fifth Third Bancorp raised its holdings in shares of CoreCivic by 320.7% during the fourth quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 2,546 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in shares of CoreCivic during the 4th quarter worth about $71,000. Institutional investors and hedge funds own 85.13% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently commented on CXW. Noble Financial raised their target price on CoreCivic from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Benchmark upped their price target on CoreCivic from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. UBS Group set a $35.00 price target on CoreCivic in a report on Tuesday, July 7th. Wall Street Zen raised CoreCivic from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings upgraded CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $36.20.
CoreCivic Trading Down 0.2%
CXW opened at $31.28 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.44 and a quick ratio of 2.44. CoreCivic, Inc. has a fifty-two week low of $15.73 and a fifty-two week high of $32.69. The firm has a market capitalization of $3.09 billion, a PE ratio of 25.43 and a beta of 0.57. The company’s 50-day moving average is $27.32 and its 200 day moving average is $22.16.
CoreCivic 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.
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