State Board of Administration of Florida Retirement System Acquires 5,337 Shares of Corrections Corp. of America (CXW)

State Board of Administration of Florida Retirement System boosted its holdings in shares of Corrections Corp. of America (NYSE:CXW) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 233,159 shares of the real estate investment trust’s stock after purchasing an additional 5,337 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.20% of Corrections Corp. of America worth $6,242,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CXW. Advisory Services Network LLC lifted its stake in Corrections Corp. of America by 115.0% during the second quarter. Advisory Services Network LLC now owns 4,093 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 2,189 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Corrections Corp. of America during the first quarter valued at approximately $116,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Corrections Corp. of America by 11.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,266 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 452 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Corrections Corp. of America during the second quarter valued at approximately $173,000. Finally, Parametrica Management Ltd acquired a new stake in Corrections Corp. of America during the second quarter valued at approximately $201,000. 84.78% of the stock is owned by institutional investors and hedge funds.

Shares of Corrections Corp. of America (NYSE CXW) opened at $24.37 on Tuesday. The company has a market cap of $2,909.00, a P/E ratio of 9.88, a P/E/G ratio of 1.76 and a beta of 0.91. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.10 and a quick ratio of 1.10. Corrections Corp. of America has a 12-month low of $19.79 and a 12-month high of $35.33.

Corrections Corp. of America (NYSE:CXW) last released its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.02. The firm had revenue of $442.80 million for the quarter, compared to analyst estimates of $437.18 million. Corrections Corp. of America had a net margin of 11.03% and a return on equity of 13.54%. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. research analysts forecast that Corrections Corp. of America will post 2.33 earnings per share for the current year.

Several equities research analysts recently commented on CXW shares. Zacks Investment Research downgraded shares of Corrections Corp. of America from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. TheStreet downgraded shares of Corrections Corp. of America from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. BidaskClub downgraded shares of Corrections Corp. of America from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Canaccord Genuity set a $36.00 price target on shares of Corrections Corp. of America and gave the company a “buy” rating in a research report on Monday, August 7th. Finally, ValuEngine upgraded shares of Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Corrections Corp. of America presently has an average rating of “Hold” and an average price target of $34.25.

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In other Corrections Corp. of America news, CFO David Garfinkle sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $26.01, for a total value of $260,100.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thurgood Marshall, Jr. sold 2,360 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $25.90, for a total transaction of $61,124.00. Following the completion of the transaction, the director now owns 31,083 shares in the company, valued at approximately $805,049.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,360 shares of company stock worth $580,224. Company insiders own 1.30% of the company’s stock.

Corrections Corp. of America Profile

CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.

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Institutional Ownership by Quarter for Corrections Corp. of America (NYSE:CXW)

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