CoreCivic, Inc. $CXW Shares Purchased by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its stake in CoreCivic, Inc. by 5,594.4% during the first quarter, bringing its total holdings to 37,355 shares valued at approximately $758,000.
• Several other institutional investors also raised their positions in CoreCivic, resulting in 85.13% of the stock being owned by hedge funds and institutional investors.
• CoreCivic reported strong quarterly earnings, surpassing expectations with $0.59 EPS and revenue of $538.17 million, marking a 9.8% year-over-year increase.

AlphaQuest LLC boosted its stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 5,594.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,355 shares of the real estate investment trust's stock after buying an additional 36,699 shares during the quarter. AlphaQuest LLC's holdings in CoreCivic were worth $758,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Woodmont Investment Counsel LLC purchased a new position in CoreCivic during the first quarter worth about $514,000. Wedge Capital Management L L P NC boosted its stake in CoreCivic by 29.3% during the first 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 buying an additional 18,036 shares during the period. Vanguard Group Inc. boosted its stake in CoreCivic by 2.2% during the first quarter. Vanguard Group Inc. now owns 12,215,492 shares of the real estate investment trust's stock worth $247,852,000 after buying an additional 267,198 shares during the period. Principal Financial Group Inc. boosted its stake in CoreCivic by 2.3% during the first quarter. Principal Financial Group Inc. now owns 547,061 shares of the real estate investment trust's stock worth $11,100,000 after buying an additional 12,374 shares during the period. Finally, Nebula Research & Development LLC purchased a new position in CoreCivic during the fourth quarter worth about $361,000. Hedge funds and other institutional investors own 85.13% of the company's stock.

Wall Street Analyst Weigh In

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

CoreCivic Stock Up 0.4%

Shares of NYSE CXW traded up $0.08 during midday trading on Friday, hitting $20.26. The company's stock had a trading volume of 1,119,646 shares, compared to its average volume of 1,112,665. The business's fifty day simple moving average is $20.69 and its two-hundred day simple moving average is $20.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60. CoreCivic, Inc. has a 1 year low of $12.13 and a 1 year high of $24.99. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 21.56 and a beta of 0.80.

CoreCivic (NYSE:CXW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.59 EPS for the quarter, beating 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 business had revenue of $538.17 million during the quarter, compared to analyst estimates of $499.02 million. During the same quarter last year, the firm posted $0.42 earnings per share. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts predict that CoreCivic, Inc. will post 1.5 EPS for the current year.

About CoreCivic

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.