Russell Investments Group Ltd. Grows Position in 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% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 106,087 shares of the real estate investment trust's stock after purchasing an additional 101,767 shares during the period. Russell Investments Group Ltd. owned approximately 0.10% of CoreCivic worth $2,153,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. GAMMA Investing LLC increased its position in CoreCivic by 10.0% in the first quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock worth $105,000 after purchasing an additional 470 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 valued at $1,348,000 after acquiring an additional 1,322 shares during the last quarter. State of Wyoming increased 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 valued at $452,000 after acquiring an additional 1,443 shares during the last quarter. Harvest Fund Management Co. Ltd increased 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 valued at $187,000 after acquiring an additional 2,113 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in CoreCivic by 4.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 58,563 shares of the real estate investment trust's stock valued at $1,273,000 after acquiring an additional 2,420 shares during the last quarter. Institutional investors own 85.13% of the company's stock.

CoreCivic Stock Performance

NYSE:CXW traded up $0.08 during midday trading on Friday, hitting $20.26. The company's stock had a trading volume of 1,119,646 shares, compared to its average volume of 1,112,665. CoreCivic, Inc. has a fifty-two week low of $12.13 and a fifty-two week high of $24.99. The firm's 50 day moving average is $20.69 and its 200-day moving average is $20.76. 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 firm has a market cap of $2.17 billion, a P/E ratio of 21.56 and a beta of 0.80.

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

Analyst Ratings Changes

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

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.