CoreCivic, Inc. $CXW Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management raised its position in CoreCivic, Inc. (NYSE:CXW) by 158.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 97,483 shares of the real estate investment trust’s stock after buying an additional 59,834 shares during the quarter. Ritholtz Wealth Management owned about 0.09% of CoreCivic worth $2,054,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in CoreCivic by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 12,215,492 shares of the real estate investment trust’s stock valued at $247,852,000 after buying an additional 267,198 shares during the period. Allianz Asset Management GmbH increased its stake in CoreCivic by 7.3% in the 1st quarter. Allianz Asset Management GmbH now owns 1,622,800 shares of the real estate investment trust’s stock valued at $32,927,000 after buying an additional 109,769 shares during the period. Wellington Management Group LLP increased its stake in CoreCivic by 35.4% in the 1st quarter. Wellington Management Group LLP now owns 1,073,573 shares of the real estate investment trust’s stock valued at $21,783,000 after buying an additional 280,495 shares during the period. Invenomic Capital Management LP increased its stake in CoreCivic by 99.5% in the 1st quarter. Invenomic Capital Management LP now owns 907,390 shares of the real estate investment trust’s stock valued at $18,411,000 after buying an additional 452,559 shares during the period. Finally, Philadelphia Financial Management of San Francisco LLC acquired a new position in CoreCivic in the 1st quarter valued at $18,186,000. 85.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CoreCivic

In related news, EVP Anthony L. Grande sold 22,500 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $21.18, for a total value of $476,550.00. Following the sale, the executive vice president directly owned 135,559 shares of the company’s stock, valued at approximately $2,871,139.62. This represents a 14.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thurgood Marshall, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $20.52, for a total transaction of $123,120.00. Following the sale, the director directly owned 44,023 shares in the company, valued at $903,351.96. This represents a 11.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,000 shares of company stock worth $1,042,545. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Jones Trading reissued a “buy” rating and issued a $30.00 price objective on shares of CoreCivic in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CoreCivic in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of CoreCivic from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

CoreCivic Stock Performance

NYSE:CXW opened at $17.74 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.68. CoreCivic, Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $24.99. The stock has a market cap of $1.90 billion, a PE ratio of 18.87 and a beta of 0.75. The firm’s fifty day simple moving average is $20.18 and its 200-day simple moving average is $20.92.

CoreCivic (NYSE:CXW) last issued its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. The firm had revenue of $538.17 million for the quarter, compared to analysts’ expectations of $499.02 million. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 EPS. Analysts expect that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

About CoreCivic

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions.