CoreCivic, Inc. $CXW Stock Holdings Decreased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon reduced its CoreCivic stake by 7.6% in the first quarter, selling 50,021 shares and retaining 606,141 shares valued at approximately $11.5 million. Institutional investors collectively own 85.13% of the company.
• CoreCivic shares opened at $29.86, near the upper end of their 52-week range of $15.73 to $32.69, with a market capitalization of approximately $2.95 billion.
• Analysts remain broadly positive, with CoreCivic holding a consensus “Buy” rating and an average price target of $36.20; Benchmark recently raised its target to $41, while Noble Financial lifted its target to $35.

Bank of New York Mellon Corp lessened its stake in CoreCivic, Inc. (NYSE:CXW - Free Report) by 7.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 606,141 shares of the real estate investment trust's stock after selling 50,021 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.61% of CoreCivic worth $11,462,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Lee Danner & Bass Inc. raised its position in shares of CoreCivic by 273.1% during the 1st quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust's stock valued at $41,101,000 after acquiring an additional 1,590,940 shares in the last quarter. Rubric Capital Management LP boosted its holdings in CoreCivic by 140.6% in the third quarter. Rubric Capital Management LP now owns 1,961,446 shares of the real estate investment trust's stock worth $39,915,000 after purchasing an additional 1,146,166 shares during the period. Balyasny Asset Management L.P. boosted its holdings in CoreCivic by 361.3% in the second quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust's stock worth $26,562,000 after purchasing an additional 987,375 shares during the period. Hatch Cove Capital LLC bought a new stake in CoreCivic during the fourth quarter valued at $12,951,000. Finally, Philosophy Capital Management LLC increased its stake in CoreCivic by 144.9% during the third quarter. Philosophy Capital Management LLC now owns 1,021,373 shares of the real estate investment trust's stock valued at $20,785,000 after purchasing an additional 604,311 shares during the last quarter. Institutional investors own 85.13% of the company's stock.

CoreCivic Trading Up 0.2%

NYSE:CXW opened at $29.86 on Friday. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 24.28 and a beta of 0.57. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.44 and a current ratio of 2.44. CoreCivic, Inc. has a 1 year low of $15.73 and a 1 year high of $32.69. The business has a fifty day moving average of $28.22 and a 200-day moving average of $22.51.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of CoreCivic from a "buy" rating to a "hold" rating in a research report on Sunday. UBS Group set a $35.00 price objective on shares of CoreCivic in a research report on Tuesday, July 7th. Noble Financial increased their price objective on shares of CoreCivic from $28.00 to $35.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 7th. Northland Securities set a $40.00 price objective on shares of CoreCivic in a research note on Friday, June 26th. Finally, Benchmark raised their target price on shares of CoreCivic from $36.00 to $41.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CoreCivic has a consensus rating of "Buy" and an average target price of $36.20.

CoreCivic Profile

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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