Bank of New York Mellon Corp Reduces Position in CoreCivic, Inc. (NYSE:CXW)

Bank of New York Mellon Corp decreased its holdings in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 3.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 710,861 shares of the real estate investment trust's stock after selling 24,739 shares during the period. Bank of New York Mellon Corp owned 0.65% of CoreCivic worth $14,423,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CXW. GAMMA Investing LLC grew its position in shares of CoreCivic by 10.0% in the 1st 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. Bank of Montreal Can grew its position in shares of CoreCivic by 8.0% in the 4th quarter. Bank of Montreal Can now owns 12,742 shares of the real estate investment trust's stock worth $277,000 after buying an additional 944 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of CoreCivic by 2.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,000 shares of the real estate investment trust's stock worth $1,348,000 after buying an additional 1,322 shares during the last quarter. State of Wyoming grew its position in shares of CoreCivic by 7.5% in the 4th quarter. State of Wyoming now owns 20,796 shares of the real estate investment trust's stock worth $452,000 after buying an additional 1,443 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of CoreCivic in the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 85.13% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wedbush reiterated an "outperform" rating and issued a $38.00 target price on shares of CoreCivic in a research note on Wednesday, June 11th. Jones Trading reiterated a "buy" rating and issued a $30.00 target price on shares of CoreCivic in a research note on Friday. Finally, Wall Street Zen cut shares of CoreCivic from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $33.33.

CoreCivic Stock Performance

Shares of CXW traded down $0.29 during trading hours on Tuesday, hitting $19.95. The stock had a trading volume of 295,901 shares, compared to its average volume of 1,125,233. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a 50-day moving average price of $21.55 and a 200 day moving average price of $20.94. CoreCivic, Inc. has a fifty-two week low of $11.82 and a fifty-two week high of $24.99. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 26.24 and a beta of 0.77.

CoreCivic (NYSE:CXW - Get Free Report) last posted its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.10. CoreCivic had a net margin of 4.33% and a return on equity of 5.75%. The firm had revenue of $488.60 million during the quarter, compared to analysts' expectations of $478.49 million. During the same period in the previous year, the business posted $0.46 EPS. The business's revenue was down 2.4% compared to the same quarter last year. As a group, research analysts anticipate that CoreCivic, Inc. will post 1.5 EPS for the current year.

Insider Transactions at CoreCivic

In related news, CEO Damon T. Hininger sold 72,246 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $22.50, for a total value of $1,625,535.00. Following the completion of the sale, the chief executive officer owned 879,324 shares of the company's stock, valued at approximately $19,784,790. The trade was a 7.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Anthony L. Grande sold 10,000 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $22.22, for a total transaction of $222,200.00. Following the completion of the sale, the executive vice president directly owned 180,559 shares of the company's stock, valued at approximately $4,012,020.98. The trade was a 5.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,246 shares of company stock worth $4,061,215. Insiders own 2.30% of the company's stock.

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.