Allianz Asset Management GmbH Has $32.93 Million Position in CoreCivic, Inc. (NYSE:CXW)

Allianz Asset Management GmbH increased its stake in CoreCivic, Inc. (NYSE:CXW - Free Report) by 7.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,622,800 shares of the real estate investment trust's stock after purchasing an additional 109,769 shares during the quarter. Allianz Asset Management GmbH owned 1.48% of CoreCivic worth $32,927,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CXW. Meeder Asset Management Inc. purchased a new position in CoreCivic during the 4th quarter valued at about $43,000. Copia Wealth Management purchased a new stake in shares of CoreCivic during the fourth quarter valued at approximately $82,000. Russell Investments Group Ltd. increased its stake in shares of CoreCivic by 86,300.0% in the fourth quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust's stock worth $94,000 after buying an additional 4,315 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of CoreCivic by 10.0% in the first quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock worth $105,000 after buying an additional 470 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in CoreCivic during the fourth quarter valued at $211,000. Hedge funds and other institutional investors own 85.13% of the company's stock.

Insiders Place Their Bets

In other CoreCivic news, COO Patrick D. Swindle sold 23,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $22.39, for a total transaction of $514,970.00. Following the transaction, the chief operating officer owned 241,630 shares in the company, valued at approximately $5,410,095.70. This trade represents a 8.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stacia Hylton sold 4,000 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $21.69, for a total value of $86,760.00. Following the transaction, the director owned 82,969 shares in the company, valued at approximately $1,799,597.61. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,246 shares of company stock valued at $4,061,215 over the last 90 days. Corporate insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wedbush reissued an "outperform" rating and set a $38.00 price target on shares of CoreCivic in a report on Wednesday, June 11th. Wall Street Zen downgraded CoreCivic from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Jones Trading reissued a "buy" rating and issued a $30.00 price target on shares of CoreCivic in a research note on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.33.

CoreCivic Stock Performance

Shares of NYSE CXW traded up $0.14 during trading hours on Thursday, reaching $19.96. The stock had a trading volume of 886,481 shares, compared to its average volume of 995,748. The business's fifty day moving average is $21.44 and its two-hundred day moving average is $20.91. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 26.26 and a beta of 0.77. CoreCivic, Inc. has a twelve month low of $11.81 and a twelve month high of $24.99.

CoreCivic (NYSE:CXW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 EPS for the quarter, topping the consensus estimate of $0.35 by $0.10. The company had revenue of $488.60 million for the quarter, compared to analysts' expectations of $478.49 million. CoreCivic had a return on equity of 5.75% and a net margin of 4.33%. The business'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 earned $0.46 earnings per share. As a group, research analysts expect that CoreCivic, Inc. will post 1.5 EPS for the current year.

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.