Nuveen LLC Acquires Shares of 523,840 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 stake in CoreCivic, Inc. (NYSE:CXW - Free Report) during the 1st quarter, according to its most recent filing with the Securities and 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 about 0.48% of CoreCivic at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Woodmont Investment Counsel LLC acquired a new position in shares of CoreCivic in the 1st quarter worth approximately $514,000. Wedge Capital Management L L P NC lifted its holdings in shares of CoreCivic by 29.3% in the 1st quarter. Wedge Capital Management L L P NC now owns 79,527 shares of the real estate investment trust's stock worth $1,614,000 after acquiring an additional 18,036 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 worth $247,852,000 after acquiring an additional 267,198 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of CoreCivic by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 547,061 shares of the real estate investment trust's stock worth $11,100,000 after acquiring an additional 12,374 shares during the last quarter. Finally, Nebula Research & Development LLC acquired a new position in shares of CoreCivic in the 4th quarter worth approximately $361,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CoreCivic

In other CoreCivic news, Director Stacia Hylton sold 4,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $21.69, for a total value of $86,760.00. Following the sale, the director directly owned 82,969 shares of the company's stock, valued at approximately $1,799,597.61. This represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.30% of the company's stock.

CoreCivic Stock Down 1.7%

CXW traded down $0.36 during trading hours on Thursday, hitting $20.19. 642,383 shares of the company's stock were exchanged, compared to its average volume of 1,112,377. CoreCivic, Inc. has a 12-month low of $12.13 and a 12-month high of $24.99. The firm has a 50 day moving average of $20.69 and a 200 day moving average of $20.74. The firm has a market cap of $2.16 billion, a P/E ratio of 21.47 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, topping the consensus estimate of $0.43 by $0.16. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The firm had revenue of $538.17 million for the quarter, compared to the consensus estimate of $499.02 million. During the same period in the prior year, the firm earned $0.42 EPS. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. Analysts predict that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.