CoreCivic, Inc. $CXW Shares Acquired 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 increased its position in CoreCivic, Inc. (NYSE:CXW - Free Report) by 43.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake 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. Bank of Montreal Can boosted its stake in CoreCivic by 8.0% during the 4th quarter. Bank of Montreal Can now owns 12,742 shares of the real estate investment trust's stock valued at $277,000 after acquiring an additional 944 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CoreCivic by 2.2% during the 4th 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 boosted its stake in CoreCivic by 7.5% during the 4th 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. Finally, Harvest Fund Management Co. Ltd boosted its stake in CoreCivic by 29.6% during the 1st 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. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

CoreCivic Stock Performance

Shares of CoreCivic stock traded down $0.3540 during trading hours on Monday, reaching $20.4360. The company's stock had a trading volume of 1,149,646 shares, compared to its average volume of 1,058,506. The company's 50 day simple moving average is $20.70 and its 200 day simple moving average is $20.74. 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 one year low of $12.13 and a one year high of $24.99. The stock has a market cap of $2.19 billion, a P/E ratio of 21.74 and a beta of 0.80.

CoreCivic (NYSE:CXW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping 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 company had revenue of $538.17 million for the quarter, compared to the consensus estimate of $499.02 million. During the same period last year, the firm posted $0.42 EPS. The company's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts expect that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling at CoreCivic

In related news, Director Stacia Hylton sold 4,000 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $21.69, for a total value of $86,760.00. Following the sale, the director owned 82,969 shares of the company's stock, valued at $1,799,597.61. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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