Aberdeen Group plc Raises Holdings in CoreCivic, Inc. $CXW

Key Points

• Aberdeen Group plc boosted its stake in CoreCivic by 60.1% in Q4, buying an additional 363,526 shares to own 968,300 shares (about 0.93% of the company) valued at roughly $18.5 million; institutional investors now hold about 85.13% of the stock.
• CoreCivic missed Q4 consensus on earnings (reported $0.27 EPS vs. $0.43 expected) but posted a 26% revenue increase to $603.95 million, and analysts are generally positive—three Buys and one Hold with a consensus target near $32.

Aberdeen Group plc increased its position in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 60.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 968,300 shares of the real estate investment trust's stock after purchasing an additional 363,526 shares during the quarter. Aberdeen Group plc owned approximately 0.93% of CoreCivic worth $18,504,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd boosted its stake in CoreCivic by 31,516.7% during the third quarter. Covestor Ltd now owns 1,897 shares of the real estate investment trust's stock worth $39,000 after buying an additional 1,891 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in CoreCivic by 33.0% during the second quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust's stock worth $59,000 after buying an additional 702 shares during the last quarter. CWM LLC lifted its stake in shares of CoreCivic by 133.5% in the 3rd quarter. CWM LLC now owns 5,105 shares of the real estate investment trust's stock valued at $104,000 after purchasing an additional 2,919 shares during the last quarter. LSV Asset Management acquired a new position in shares of CoreCivic in the 3rd quarter valued at $151,000. Finally, Evergreen Capital Management LLC acquired a new position in shares of CoreCivic in the 2nd quarter valued at $202,000. Institutional investors and hedge funds own 85.13% of the company's stock.

CoreCivic Trading Down 2.4%

CXW opened at $20.01 on Tuesday. The company has a market cap of $1.98 billion, a P/E ratio of 18.53 and a beta of 0.61. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.66 and a current ratio of 1.66. CoreCivic, Inc. has a one year low of $15.73 and a one year high of $23.54. The business's 50-day simple moving average is $18.67 and its 200-day simple moving average is $18.79.

CoreCivic (NYSE:CXW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.16). CoreCivic had a return on equity of 8.17% and a net margin of 5.27%.The business had revenue of $603.95 million for the quarter, compared to analysts' expectations of $585.12 million. During the same period in the previous year, the business posted $0.39 earnings per share. The company's revenue for the quarter was up 26.0% on a year-over-year basis. As a group, equities research analysts expect that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CXW. Wall Street Zen raised CoreCivic from a "hold" rating to a "buy" rating in a research note on Sunday, March 8th. Benchmark initiated coverage on CoreCivic in a report on Tuesday, March 24th. They issued a "buy" rating and a $28.00 price objective on the stock. Finally, JonesTrading reiterated a "buy" rating and issued a $30.00 price objective on shares of CoreCivic in a report on Friday, February 13th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, CoreCivic has an average rating of "Moderate Buy" and a consensus target price of $32.00.

CoreCivic Company Profile

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.

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