Entropy Technologies LP acquired a new position in CoreCivic, Inc. (NYSE:CXW – Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 18,099 shares of the real estate investment trust’s stock, valued at approximately $342,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CXW. Lee Danner & Bass Inc. lifted its position in shares of CoreCivic by 273.1% during the first quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust’s stock worth $41,101,000 after purchasing an additional 1,590,940 shares during the last quarter. Rubric Capital Management LP grew its stake in CoreCivic by 140.6% in the third quarter. Rubric Capital Management LP now owns 1,961,446 shares of the real estate investment trust’s stock worth $39,915,000 after purchasing an additional 1,146,166 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in CoreCivic by 361.3% in the second quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust’s stock valued at $26,562,000 after buying an additional 987,375 shares during the last quarter. Hatch Cove Capital LLC acquired a new stake in CoreCivic during the fourth quarter valued at approximately $12,951,000. Finally, Philosophy Capital Management LLC raised its stake in CoreCivic by 144.9% during the third quarter. Philosophy Capital Management LLC now owns 1,021,373 shares of the real estate investment trust’s stock valued at $20,785,000 after buying an additional 604,311 shares in the last quarter. 85.13% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on CXW shares. Weiss Ratings raised shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. UBS Group set a $35.00 target price on CoreCivic in a report on Tuesday, July 7th. Northland Securities set a $40.00 price target on CoreCivic in a research report on Friday, June 26th. Wall Street Zen raised CoreCivic from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Finally, Noble Financial raised their price target on CoreCivic from $28.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CoreCivic currently has a consensus rating of “Buy” and an average target price of $36.20.
CoreCivic Stock Up 0.3%
CXW opened at $29.83 on Friday. CoreCivic, Inc. has a one year low of $15.73 and a one year high of $32.69. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.44 and a current ratio of 2.44. The stock’s fifty day moving average is $28.06 and its 200-day moving average is $22.46. The company has a market capitalization of $2.95 billion, a PE ratio of 24.25 and a beta of 0.57.
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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