Russell Investments Group Ltd. Buys 101,767 Shares of CoreCivic, Inc. $CXW

Key Points

• Russell Investments Group Ltd. significantly increased its holdings in CoreCivic, Inc. by 2,355.7% during the first quarter, owning 106,087 shares valued at approximately $2.15 million.
• CoreCivic reported 📈 earnings per share of $0.59 for the most recent quarter, beating analysts' expectations and showing a 9.8% increase in revenue year-over-year.
• Analysts currently have an average rating of "Buy" for CoreCivic shares, with a target price of $33.33, indicating positive future expectations for the stock.

Russell Investments Group Ltd. increased its holdings in CoreCivic, Inc. (NYSE:CXW - Free Report) by 2,355.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 106,087 shares of the real estate investment trust's stock after buying an additional 101,767 shares during the period. Russell Investments Group Ltd. owned 0.10% of CoreCivic worth $2,153,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC bought a new stake in CoreCivic during the 1st quarter worth approximately $10,629,000. Sierra Summit Advisors LLC increased its holdings in CoreCivic by 26.2% during the 1st quarter. Sierra Summit Advisors LLC now owns 33,324 shares of the real estate investment trust's stock worth $676,000 after acquiring an additional 6,926 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in CoreCivic by 57.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 206,965 shares of the real estate investment trust's stock worth $4,199,000 after acquiring an additional 75,470 shares during the period. Vanguard Group Inc. increased its holdings in CoreCivic by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 12,215,492 shares of the real estate investment trust's stock worth $247,852,000 after acquiring an additional 267,198 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in CoreCivic during the 1st quarter worth approximately $2,288,000. Institutional investors own 85.13% of the company's stock.

CoreCivic Price Performance

NYSE CXW traded up $0.08 on Friday, reaching $20.26. 1,119,646 shares of the company's stock traded hands, compared to its average volume of 1,133,378. CoreCivic, Inc. has a 12 month low of $12.13 and a 12 month high of $24.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a 50-day simple moving average of $20.69 and a 200 day simple moving average of $20.78. The stock has a market cap of $2.17 billion, a PE ratio of 21.56 and a beta of 0.81.

CoreCivic (NYSE:CXW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.16. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The business had revenue of $538.17 million for the quarter, compared to analysts' expectations of $499.02 million. During the same period last year, the business earned $0.42 earnings per share. The business's quarterly revenue was up 9.8% on a year-over-year basis. As a group, research analysts predict that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

Analyst Ratings Changes

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