Caxton Associates LLP Invests $494,000 in CoreCivic, Inc. $CXW

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 bought a new stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,367 shares of the real estate investment trust's stock, valued at approximately $494,000.

A number of other hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its holdings 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 purchasing an additional 470 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in CoreCivic by 2.2% during the fourth 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 acquiring an additional 1,322 shares during the period. State of Wyoming boosted its position in CoreCivic by 7.5% during the fourth quarter. State of Wyoming now owns 20,796 shares of the real estate investment trust's stock worth $452,000 after purchasing an additional 1,443 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its position in CoreCivic by 29.6% during the first quarter. Harvest Fund Management Co. Ltd now owns 9,250 shares of the real estate investment trust's stock worth $187,000 after purchasing an additional 2,113 shares in the last quarter. Finally, Harbour Investments Inc. lifted 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 in the last quarter. 85.13% of the stock is owned by institutional investors and hedge funds.

CoreCivic Stock Performance

Shares of CXW traded up $0.18 during trading hours on Wednesday, reaching $20.81. 90,256 shares of the company traded hands, compared to its average volume of 1,094,202. The stock's fifty day moving average is $20.52 and its 200 day moving average is $20.91. The stock has a market cap of $2.23 billion, a P/E ratio of 22.22 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. CoreCivic, Inc. has a 1-year low of $12.24 and a 1-year high of $24.99.

CoreCivic (NYSE:CXW - Get Free Report) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.16. The business 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 firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Equities research analysts anticipate that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

Insider Activity at CoreCivic

In related news, EVP Anthony L. Grande sold 22,500 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $21.18, for a total value of $476,550.00. Following the transaction, the executive vice president directly owned 135,559 shares in the company, valued at $2,871,139.62. This represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thurgood Marshall, Jr. sold 6,000 shares of the 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 sale, the director owned 44,023 shares in the company, valued at approximately $903,351.96. This trade 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 worth $1,042,545 over the last 90 days. 2.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.