VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in CoreCivic, Inc. (NYSE:CXW – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 64,850 shares of the real estate investment trust’s stock, valued at approximately $1,970,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.07% of CoreCivic as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of CoreCivic in the second quarter worth $480,557,000. River Road Asset Management LLC boosted its stake in CoreCivic by 3.3% during the 4th quarter. River Road Asset Management LLC now owns 8,978,240 shares of the real estate investment trust’s stock valued at $171,574,000 after acquiring an additional 287,108 shares during the last quarter. Lee Danner & Bass Inc. boosted its stake in CoreCivic by 273.1% during the 1st quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust’s stock valued at $41,101,000 after acquiring an additional 1,590,940 shares during the last quarter. Rubric Capital Management LP grew its holdings in CoreCivic by 5.0% during the 1st quarter. Rubric Capital Management LP now owns 2,059,216 shares of the real estate investment trust’s stock worth $38,940,000 after acquiring an additional 97,770 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in CoreCivic by 361.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust’s stock worth $26,562,000 after acquiring an additional 987,375 shares in the last quarter. 85.13% of the stock is currently owned by hedge funds and other institutional investors.
CoreCivic Trading Up 1.5%
CoreCivic stock opened at $34.93 on Friday. CoreCivic, Inc. has a 1 year low of $15.73 and a 1 year high of $35.30. The firm’s 50-day moving average is $32.28 and its 200-day moving average is $25.48. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $3.45 billion, a P/E ratio of 27.95 and a beta of 0.60.
CoreCivic announced that its Board of Directors has authorized a stock buyback plan on Monday, August 10th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase up to 15.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Wall Street Analyst Weigh In
CXW has been the topic of a number of recent analyst reports. JonesTrading restated a “buy” rating and issued a $30.00 target price on shares of CoreCivic in a research note on Wednesday, August 5th. Northland Securities set a $40.00 price objective on CoreCivic in a report on Friday, June 26th. Noble Financial reissued an “outperform” rating on shares of CoreCivic in a report on Monday, August 10th. Weiss Ratings raised CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Finally, UBS Group set a $35.00 target price on CoreCivic in a research report on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $37.00.
Get Our Latest Analysis on CXW
Insider Activity at CoreCivic
In related news, Director John R. Prann, Jr. sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $33.54, for a total transaction of $1,341,600.00. Following the completion of the transaction, the director owned 30,396 shares in the company, valued at $1,019,481.84. The trade was a 56.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Emkes sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $34.25, for a total value of $1,027,500.00. Following the transaction, the director owned 141,274 shares of the company’s stock, valued at $4,838,634.50. This represents a 17.52% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 459,287 shares of company stock valued at $15,431,193. 1.76% of the stock is owned by insiders.
About CoreCivic
CoreCivic, Inc (NYSE: CXW) is a diversified government-solutions company that provides detention, corrections and residential reentry services. The company partners with federal, state and local government agencies to design, develop, own, lease and manage correctional and detention facilities in the United States.
Through its CoreCivic Safety operations, the company manages correctional and detention facilities and provides related services, including security, inmate care, transportation and rehabilitation programs.
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