Geode Capital Management LLC Reduces Position in CoreCivic, Inc. (NYSE:CXW)

Geode Capital Management LLC lowered its stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,551,279 shares of the real estate investment trust's stock after selling 18,726 shares during the quarter. Geode Capital Management LLC owned about 2.31% of CoreCivic worth $55,477,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Diametric Capital LP acquired a new position in shares of CoreCivic in the fourth quarter valued at approximately $314,000. National Bank of Canada FI grew its position in CoreCivic by 19.5% in the 4th quarter. National Bank of Canada FI now owns 910,000 shares of the real estate investment trust's stock valued at $19,783,000 after buying an additional 148,508 shares during the last quarter. Franklin Resources Inc. increased its stake in CoreCivic by 52.7% in the 4th quarter. Franklin Resources Inc. now owns 51,038 shares of the real estate investment trust's stock valued at $1,110,000 after buying an additional 17,608 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of CoreCivic in the 4th quarter worth $43,000. Finally, LPL Financial LLC lifted its stake in shares of CoreCivic by 67.2% in the 4th quarter. LPL Financial LLC now owns 69,838 shares of the real estate investment trust's stock worth $1,518,000 after acquiring an additional 28,074 shares during the period. Institutional investors and hedge funds own 85.13% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. StockNews.com raised shares of CoreCivic from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. Noble Financial raised CoreCivic from a "market perform" rating to an "outperform" rating in a report on Wednesday, February 12th. Finally, Wedbush reaffirmed an "outperform" rating and set a $30.00 price objective on shares of CoreCivic in a report on Tuesday, February 11th.

CoreCivic Price Performance

Shares of CXW stock traded up $0.22 during midday trading on Friday, reaching $22.17. 705,861 shares of the company traded hands, compared to its average volume of 1,116,271. The firm has a market cap of $2.42 billion, a PE ratio of 36.34 and a beta of 0.86. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.57 and a quick ratio of 1.51. The firm's 50 day simple moving average is $19.70 and its two-hundred day simple moving average is $19.44. CoreCivic, Inc. has a 1-year low of $10.74 and a 1-year high of $24.99.

CoreCivic (NYSE:CXW - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. CoreCivic had a return on equity of 5.97% and a net margin of 3.51%. On average, equities research analysts expect that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

CoreCivic Profile

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.