Inceptionr LLC Buys New Stake in CoreCivic, Inc. $CXW

Inceptionr LLC bought a new position in shares of CoreCivic, Inc. (NYSE:CXW) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 19,489 shares of the real estate investment trust’s stock, valued at approximately $369,000.

A number of other hedge funds also recently bought and sold shares of the company. NBC Securities Inc. increased its stake in shares of CoreCivic by 533.9% in the fourth quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 1,228 shares during the period. Leonteq Securities AG bought a new stake in CoreCivic during the 4th quarter valued at approximately $57,000. Smartleaf Asset Management LLC grew its holdings in CoreCivic by 33.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 702 shares during the last quarter. Fifth Third Bancorp increased its position in CoreCivic by 320.7% in the 4th quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 2,546 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in CoreCivic in the 4th quarter worth approximately $71,000. 85.13% of the stock is currently owned by institutional investors.

CoreCivic Stock Down 0.2%

NYSE:CXW opened at $31.28 on Monday. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.99. CoreCivic, Inc. has a 12-month low of $15.73 and a 12-month high of $32.69. The firm has a market capitalization of $3.09 billion, a P/E ratio of 25.43 and a beta of 0.57. The stock’s fifty day simple moving average is $27.32 and its 200-day simple moving average is $22.16.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Northland Securities set a $40.00 target price on shares of CoreCivic in a research note on Friday, June 26th. UBS Group set a $35.00 price target on CoreCivic in a research note on Tuesday, July 7th. Benchmark boosted their price target on shares of CoreCivic from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Noble Financial increased their price target on CoreCivic from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen upgraded CoreCivic from a “hold” rating to a “buy” rating in a report on Saturday. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $36.20.

About CoreCivic

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.