24,367 Shares in CoreCivic, Inc. $CXW Bought by Caxton Associates LLP

Key Points

• Caxton Associates LLP has acquired 24,367 shares of CoreCivic, Inc., valued at approximately $494,000, marking a new position for the institutional investor in the first quarter.
• CoreCivic's stock price has increased by 5.3%, currently trading at $21.40, reflecting positive analyst sentiment and robust quarterly earnings that exceeded expectations.
• Insider trading activity revealed that two company executives sold a total of 28,500 shares recently, which sparked discussions about insider confidence in the company’s future performance.

Caxton Associates LLP purchased a new stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,367 shares of the real estate investment trust's stock, valued at approximately $494,000.

A number of other large investors have also made changes to their positions in the company. Sciencast Management LP acquired a new stake in shares of CoreCivic during the first quarter valued at approximately $381,000. Jones Financial Companies Lllp increased its stake in CoreCivic by 3,884.2% in the 1st quarter. Jones Financial Companies Lllp now owns 18,885 shares of the real estate investment trust's stock valued at $383,000 after buying an additional 18,411 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in CoreCivic by 149.3% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 31,101 shares of the real estate investment trust's stock valued at $631,000 after buying an additional 18,627 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new position in CoreCivic in the 1st quarter valued at approximately $18,186,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in CoreCivic by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,828 shares of the real estate investment trust's stock valued at $1,315,000 after buying an additional 2,828 shares during the period. Institutional investors and hedge funds own 85.13% of the company's stock.

CoreCivic Stock Down 1.5%

CXW stock traded down $0.33 during trading hours on Friday, hitting $21.09. The company's stock had a trading volume of 1,089,330 shares, compared to its average volume of 905,082. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $2.26 billion, a PE ratio of 22.44 and a beta of 0.81. CoreCivic, Inc. has a 12 month low of $12.24 and a 12 month high of $24.99. The stock has a 50 day moving average price of $20.58 and a two-hundred day moving average price of $20.90.

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

Wall Street Analyst Weigh In

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

Insider Activity at CoreCivic

In related news, EVP Anthony L. Grande sold 22,500 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $21.18, for a total transaction of $476,550.00. Following the completion of the sale, the executive vice president directly owned 135,559 shares of the company's stock, valued at approximately $2,871,139.62. This represents a 14.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thurgood Marshall, Jr. sold 6,000 shares of the company's 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 sale, the director directly owned 44,023 shares of the company's stock, valued at approximately $903,351.96. This represents a 11.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,000 shares of company stock valued at $1,042,545 over the last three months. Insiders own 2.30% of the company's stock.

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.