CoreCivic, Inc. $CXW Shares Purchased by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in CoreCivic, Inc. by 43.7% in the first quarter, now holding approximately 195,873 shares valued at $3,974,000.
• Wall Street analysts upgraded CoreCivic to a "strong-buy" rating and set a consensus target price of $33.33, reflecting positive sentiment among four analysts.
• CoreCivic reported a 9.8% increase in revenue year-over-year, achieving $538.17 million in revenue for the quarter and earnings per share of $0.59, surpassing consensus estimates.

Algert Global LLC grew its stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 43.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 195,873 shares of the real estate investment trust's stock after purchasing an additional 59,607 shares during the quarter. Algert Global LLC owned 0.18% of CoreCivic worth $3,974,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Woodmont Investment Counsel LLC purchased a new position in CoreCivic in the 1st quarter valued at about $514,000. Wedge Capital Management L L P NC boosted its position in CoreCivic by 29.3% in the 1st quarter. Wedge Capital Management L L P NC now owns 79,527 shares of the real estate investment trust's stock valued at $1,614,000 after buying an additional 18,036 shares during the last quarter. Principal Financial Group Inc. boosted its position in CoreCivic by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 547,061 shares of the real estate investment trust's stock valued at $11,100,000 after buying an additional 12,374 shares during the last quarter. Nebula Research & Development LLC purchased a new position in CoreCivic in the 4th quarter valued at about $361,000. Finally, State of Tennessee Department of Treasury boosted its position in CoreCivic by 65.5% in the 4th quarter. State of Tennessee Department of Treasury now owns 48,999 shares of the real estate investment trust's stock valued at $1,065,000 after buying an additional 19,391 shares during the last quarter. 85.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CoreCivic news, Director Stacia Hylton sold 4,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $21.69, for a total transaction of $86,760.00. Following the completion of the sale, the director owned 82,969 shares in the company, valued at $1,799,597.61. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is currently owned by insiders.

CoreCivic Stock Performance

CXW stock traded up $0.2860 during trading on Friday, hitting $20.7360. 1,229,403 shares of the company's stock traded hands, compared to its average volume of 1,052,763. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.68. CoreCivic, Inc. has a 52 week low of $12.13 and a 52 week high of $24.99. The stock has a fifty day moving average price of $20.71 and a two-hundred day moving average price of $20.70. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 22.06 and a beta of 0.80.

CoreCivic (NYSE:CXW - Get Free Report) last released its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating 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 firm had revenue of $538.17 million during the quarter, compared to analyst estimates of $499.02 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities analysts anticipate that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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