CoreCivic, Inc. $CXW Shares Acquired by Lee Danner & Bass Inc.

Key Points

• Lee Danner & Bass Inc. increased its stake in CoreCivic by 20.1%, acquiring 97,413 shares to own 582,558 shares (about 0.56% of the company) valued at roughly $11.13 million per its latest SEC filing.
• Analysts hold a consensus rating of Moderate Buy with an average target of $32.00 (three Buy ratings and one Hold), including recent Buy initiations from Benchmark and reaffirmation from JonesTrading.
• CoreCivic beat quarterly expectations with EPS of $0.52 and revenue of $603.95 million (up 26% year-over-year); the stock trades near $20.52 and the company has a market cap of about $2.03 billion.

Lee Danner & Bass Inc. grew its stake in CoreCivic, Inc. (NYSE:CXW - Free Report) by 20.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 582,558 shares of the real estate investment trust's stock after purchasing an additional 97,413 shares during the quarter. Lee Danner & Bass Inc. owned approximately 0.56% of CoreCivic worth $11,133,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CXW. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in CoreCivic in the third quarter valued at about $1,195,000. Aberdeen Group plc boosted its position in CoreCivic by 44.5% in the third quarter. Aberdeen Group plc now owns 604,774 shares of the real estate investment trust's stock valued at $13,027,000 after buying an additional 186,174 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in CoreCivic by 126.3% in the third quarter. Y Intercept Hong Kong Ltd now owns 173,354 shares of the real estate investment trust's stock valued at $3,528,000 after buying an additional 96,750 shares in the last quarter. Vanguard Group Inc. boosted its position in CoreCivic by 1.5% in the third quarter. Vanguard Group Inc. now owns 12,574,673 shares of the real estate investment trust's stock valued at $255,895,000 after buying an additional 183,923 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in CoreCivic by 13.8% in the third quarter. Allianz Asset Management GmbH now owns 1,856,230 shares of the real estate investment trust's stock valued at $37,774,000 after buying an additional 224,747 shares in the last quarter. Institutional investors and hedge funds own 85.13% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on CXW shares. Benchmark initiated coverage on shares of CoreCivic in a research report on Tuesday, March 24th. They issued a "buy" rating and a $28.00 price target on the stock. Wall Street Zen raised shares of CoreCivic from a "hold" rating to a "buy" rating in a research note on Sunday, April 19th. Finally, JonesTrading reaffirmed a "buy" rating and issued a $30.00 target price on shares of CoreCivic in a research note on Friday, February 13th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $32.00.

CoreCivic Trading Up 2.4%

Shares of NYSE CXW opened at $20.52 on Friday. CoreCivic, Inc. has a 1-year low of $15.73 and a 1-year high of $23.54. The company has a market cap of $2.03 billion, a PE ratio of 19.00 and a beta of 0.61. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average of $19.12 and a two-hundred day moving average of $18.76.

CoreCivic (NYSE:CXW - Get Free Report) last announced its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.09. CoreCivic had a net margin of 5.27% and a return on equity of 8.17%. The company had revenue of $603.95 million during the quarter, compared to the consensus estimate of $585.12 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The company's revenue was up 26.0% on a year-over-year basis. As a group, equities analysts expect that CoreCivic, Inc. will post 2.57 earnings per share for the current fiscal year.

About CoreCivic

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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