Arrowstreet Capital Limited Partnership Buys 134,174 Shares of CoreCivic, Inc. $CXW

Key Points

• Arrowstreet Capital increased its CoreCivic stake by 968% in the first quarter, purchasing 134,174 additional shares for a total holding of 148,035 shares, worth approximately $2.8 million. Institutional investors collectively own 85.13% of the company.
• Analyst sentiment remains generally positive: CoreCivic has a consensus “Buy” rating and an average price target of $36.20, compared with the reported share price of $30.12.
• CoreCivic shares have risen significantly from their one-year low of $15.73, with a market capitalization of about $2.98 billion. The REIT operates correctional, detention, reentry and community-based facilities under government contracts.

Arrowstreet Capital Limited Partnership raised its stake in CoreCivic, Inc. (NYSE:CXW - Free Report) by 968.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 148,035 shares of the real estate investment trust's stock after buying an additional 134,174 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.15% of CoreCivic worth $2,799,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of CoreCivic by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust's stock valued at $242,955,000 after acquiring an additional 138,846 shares during the period. Lee Danner & Bass Inc. boosted its stake in CoreCivic by 20.1% during the 4th quarter. Lee Danner & Bass Inc. now owns 582,558 shares of the real estate investment trust's stock worth $11,133,000 after acquiring an additional 97,413 shares during the last quarter. KCM Capital Inc acquired a new position in CoreCivic during the first quarter valued at approximately $10,400,000. Aberdeen Group plc grew its holdings in CoreCivic by 60.1% during the fourth quarter. Aberdeen Group plc now owns 968,300 shares of the real estate investment trust's stock valued at $18,504,000 after purchasing an additional 363,526 shares during the period. Finally, Kestrel Investment Management Corp bought a new stake in CoreCivic in the fourth quarter valued at approximately $5,601,000. Institutional investors own 85.13% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CXW. Northland Securities set a $40.00 target price on CoreCivic in a report on Friday, June 26th. Weiss Ratings upgraded CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 1st. Wall Street Zen lowered CoreCivic from a "buy" rating to a "hold" rating in a research report on Sunday. Noble Financial lifted their price objective on CoreCivic from $28.00 to $35.00 and gave the company an "outperform" rating in a report on Tuesday, July 7th. Finally, UBS Group set a $35.00 price objective on CoreCivic in a research report on Tuesday, July 7th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $36.20.

CoreCivic Trading Down 0.6%

CXW stock opened at $30.12 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.44 and a quick ratio of 2.44. The company has a fifty day moving average price of $28.58 and a two-hundred day moving average price of $22.68. CoreCivic, Inc. has a one year low of $15.73 and a one year high of $32.69. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 24.48 and a beta of 0.58.

CoreCivic 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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