Nuveen LLC Makes New $10.63 Million Investment in CoreCivic, Inc. $CXW

Key Points

• Nuveen LLC acquired a new stake in CoreCivic, Inc. by purchasing 523,840 shares valued at approximately $10.6 million, bringing their total ownership to 0.48% of the company.
• CoreCivic's stock recently received multiple positive ratings from analysts, with a consensus rating of "Buy" and a price target averaging $33.33.
• The company reported strong quarterly earnings, with $0.59 EPS, exceeding analysts' estimates, and a year-over-year revenue increase of 9.8% to $538.17 million.

Nuveen LLC bought a new position in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 523,840 shares of the real estate investment trust's stock, valued at approximately $10,629,000. Nuveen LLC owned approximately 0.48% of CoreCivic at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CXW. Sierra Summit Advisors LLC grew its position in shares of CoreCivic by 26.2% during the 1st quarter. Sierra Summit Advisors LLC now owns 33,324 shares of the real estate investment trust's stock valued at $676,000 after acquiring an additional 6,926 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in CoreCivic by 57.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 206,965 shares of the real estate investment trust's stock valued at $4,199,000 after purchasing an additional 75,470 shares during the period. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 267,198 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of CoreCivic during the 1st quarter valued at $2,288,000. Finally, Gill Capital Partners LLC raised its position in shares of CoreCivic by 97.2% during the 1st quarter. Gill Capital Partners LLC now owns 22,512 shares of the real estate investment trust's stock valued at $457,000 after buying an additional 11,095 shares in the last quarter. 85.13% of the stock is owned by institutional investors.

CoreCivic Trading Up 0.8%

Shares of CXW stock traded up $0.17 during mid-day trading on Wednesday, reaching $20.54. The stock had a trading volume of 286,905 shares, compared to its average volume of 1,116,061. The stock's 50-day moving average price is $20.70 and its two-hundred day moving average price is $20.73. CoreCivic, Inc. has a 52-week low of $12.13 and a 52-week high of $24.99. The firm has a market capitalization of $2.20 billion, a PE ratio of 21.83 and a beta of 0.80. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.68.

CoreCivic (NYSE:CXW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share 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 analyst estimates of $499.02 million. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 EPS. Equities analysts expect that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CXW. Wedbush restated an "outperform" rating and set a $38.00 price objective on shares of CoreCivic in a research report on Wednesday, June 11th. Wall Street Zen upgraded shares of CoreCivic from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, Jones Trading reiterated a "buy" rating and issued a $30.00 target price on shares of CoreCivic in a research report on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $33.33.

Insider Buying and Selling at CoreCivic

In related news, Director Stacia Hylton sold 4,000 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $21.69, for a total transaction of $86,760.00. Following the sale, the director owned 82,969 shares of the company's stock, valued at $1,799,597.61. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.30% of the company's stock.

CoreCivic Company 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.