Aristeia Capital L.L.C. Takes Position in CoreCivic, Inc. $CXW

Key Points

• Aristeia Capital L.L.C. has acquired a new stake in CoreCivic, Inc., purchasing 24,124 shares for approximately $489,000 during the first quarter.
• Analysts have a consensus rating of "Buy" for CoreCivic with an average price target of $33.33, indicating confidence in its potential.
• CoreCivic reported a strong quarterly earnings performance with an EPS of $0.59, exceeding estimates and showing revenue growth of 9.8% year-over-year.

Aristeia Capital L.L.C. acquired a new stake in CoreCivic, Inc. (NYSE:CXW - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 24,124 shares of the real estate investment trust's stock, valued at approximately $489,000.

Other hedge funds also recently modified their holdings of the company. Copia Wealth Management bought a new stake in shares of CoreCivic in the fourth quarter valued at approximately $82,000. GAMMA Investing LLC boosted its position 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 valued at $105,000 after acquiring an additional 470 shares during the period. Harbour Investments Inc. boosted its position in shares of CoreCivic by 215.6% in the first quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust's stock valued at $108,000 after acquiring an additional 3,646 shares during the period. Harvest Fund Management Co. Ltd boosted its position in shares of CoreCivic by 29.6% in the first quarter. Harvest Fund Management Co. Ltd now owns 9,250 shares of the real estate investment trust's stock valued at $187,000 after acquiring an additional 2,113 shares during the period. Finally, Fortitude Advisory Group L.L.C. bought a new stake in shares of CoreCivic in the first quarter valued at approximately $307,000. 85.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other CoreCivic news, Director Thurgood Marshall, Jr. sold 6,000 shares of CoreCivic stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $20.52, for a total transaction of $123,120.00. Following the completion of the transaction, the director directly owned 44,023 shares of the company's stock, valued at approximately $903,351.96. This trade represents a 11.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Anthony L. Grande sold 12,500 shares of CoreCivic stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.71, for a total value of $246,375.00. Following the transaction, the executive vice president directly owned 158,059 shares of the company's stock, valued at approximately $3,115,342.89. The trade was a 7.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,500 shares of company stock valued at $565,995. Company insiders own 2.30% of the company's stock.

CoreCivic Price Performance

Shares of CXW stock traded down $0.33 during mid-day trading on Friday, reaching $21.09. The company's stock had a trading volume of 1,089,213 shares, compared to its average volume of 1,100,652. CoreCivic, Inc. has a 1-year low of $12.24 and a 1-year high of $24.99. The company has a market cap of $2.26 billion, a P/E ratio of 22.44 and a beta of 0.81. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.60 and a current ratio of 1.60. The firm's 50-day moving average is $20.59 and its two-hundred day moving average is $20.84.

CoreCivic (NYSE:CXW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.16. The company had revenue of $538.17 million during the quarter, compared to analysts' expectations of $499.02 million. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.The business's revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned $0.42 earnings per share. On average, research analysts predict that CoreCivic, Inc. will post 1.5 earnings per share 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.