AlphaQuest LLC Has $758,000 Stock Position in CoreCivic, Inc. $CXW

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

Several other hedge funds and other institutional investors have also modified their holdings of the business. Martingale Asset Management L P boosted its holdings in shares of CoreCivic by 36.5% in the 1st quarter. Martingale Asset Management L P now owns 60,749 shares of the real estate investment trust's stock valued at $1,233,000 after buying an additional 16,232 shares during the period. Wellington Management Group LLP grew its position in shares of CoreCivic by 35.4% during the first quarter. Wellington Management Group LLP now owns 1,073,573 shares of the real estate investment trust's stock worth $21,783,000 after acquiring an additional 280,495 shares during the last quarter. Algert Global LLC increased its holdings in shares of CoreCivic by 43.7% in the 1st quarter. Algert Global LLC now owns 195,873 shares of the real estate investment trust's stock worth $3,974,000 after acquiring an additional 59,607 shares during the period. Raymond James Financial Inc. increased its holdings in shares of CoreCivic by 3.0% in the 1st quarter. Raymond James Financial Inc. now owns 555,671 shares of the real estate investment trust's stock worth $11,275,000 after acquiring an additional 15,996 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of CoreCivic by 2,355.7% in the 1st quarter. Russell Investments Group Ltd. now owns 106,087 shares of the real estate investment trust's stock worth $2,153,000 after acquiring an additional 101,767 shares during the period. 85.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Stacia Hylton sold 4,000 shares of CoreCivic 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

CoreCivic Price Performance

CoreCivic stock traded down $0.36 during trading hours on Thursday, hitting $20.19. 642,383 shares of the company traded hands, compared to its average volume of 1,115,169. The firm's 50-day simple moving average is $20.70 and its two-hundred day simple moving average is $20.73. 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 quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.68. CoreCivic, Inc. has a 1-year low of $12.13 and a 1-year high of $24.99.

CoreCivic (NYSE:CXW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.16. The company had revenue of $538.17 million for the quarter, compared to analysts' expectations of $499.02 million. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The business's revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. As a group, analysts forecast that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

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.