Envestnet Asset Management Inc. Takes $257,000 Position in CoreCivic, Inc. (NYSE:CXW)

Envestnet Asset Management Inc. acquired a new stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 11,825 shares of the real estate investment trust's stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in shares of CoreCivic by 25.5% in the fourth quarter. GAMMA Investing LLC now owns 4,686 shares of the real estate investment trust's stock valued at $102,000 after purchasing an additional 953 shares during the period. Exchange Traded Concepts LLC increased its holdings in CoreCivic by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 57,312 shares of the real estate investment trust's stock worth $1,246,000 after buying an additional 1,450 shares during the period. Smartleaf Asset Management LLC raised its position in CoreCivic by 318.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust's stock worth $53,000 after buying an additional 1,859 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in CoreCivic during the 4th quarter valued at approximately $43,000. Finally, KBC Group NV lifted its stake in CoreCivic by 57.3% during the 4th quarter. KBC Group NV now owns 5,477 shares of the real estate investment trust's stock valued at $119,000 after acquiring an additional 1,995 shares during the period. Hedge funds and other institutional investors own 85.13% of the company's stock.

CoreCivic Price Performance

Shares of CoreCivic stock traded up $0.24 during trading hours on Tuesday, reaching $21.88. The stock had a trading volume of 118,671 shares, compared to its average volume of 1,150,165. The stock's 50 day moving average is $20.96 and its 200 day moving average is $20.60. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 0.65. CoreCivic, Inc. has a twelve month low of $10.74 and a twelve month high of $24.99. The firm has a market capitalization of $2.39 billion, a PE ratio of 35.87 and a beta of 0.79.

CoreCivic (NYSE:CXW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.10. The company had revenue of $488.60 million for the quarter, compared to the consensus estimate of $478.49 million. CoreCivic had a return on equity of 5.97% and a net margin of 3.51%. CoreCivic's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 earnings per share. Equities analysts expect that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CXW. Noble Financial raised shares of CoreCivic from a "market perform" rating to an "outperform" rating in a report on Wednesday, February 12th. Wedbush reiterated an "outperform" rating and set a $30.00 price objective on shares of CoreCivic in a research note on Tuesday, February 11th. Finally, StockNews.com upgraded CoreCivic from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th.

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.