CoreCivic, Inc. $CXW Stock Holdings Lowered by Hahn Capital Management LLC

Key Points

• Hahn Capital Management reduced its CoreCivic stake by 15.5% in the first quarter, selling 37,476 shares and leaving it with 203,846 shares worth about $3.86 million.
• Several other institutional investors increased their positions, and 85.13% of CoreCivic shares are held by institutions, indicating strong professional ownership interest.
• Analysts remain upbeat on CXW, with multiple firms raising price targets and the stock carrying a consensus Buy rating and average price target of $36.20.

Hahn Capital Management LLC lessened its position in CoreCivic, Inc. (NYSE:CXW - Free Report) by 15.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 203,846 shares of the real estate investment trust's stock after selling 37,476 shares during the period. CoreCivic makes up 2.4% of Hahn Capital Management LLC's portfolio, making the stock its 21st biggest position. Hahn Capital Management LLC owned approximately 0.21% of CoreCivic worth $3,855,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Lee Danner & Bass Inc. boosted its stake in 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 purchasing an additional 1,590,940 shares during the period. Rubric Capital Management LP increased its stake in shares of 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 valued at $39,915,000 after purchasing an additional 1,146,166 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of 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 valued at $26,562,000 after purchasing an additional 987,375 shares during the period. Hatch Cove Capital LLC bought a new stake in shares of CoreCivic during the fourth quarter valued at approximately $12,951,000. Finally, Philosophy Capital Management LLC raised its holdings in shares of 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 buying an additional 604,311 shares during the last quarter. 85.13% of the stock is currently owned by institutional investors.

CoreCivic Price Performance

Shares of NYSE:CXW opened at $30.63 on Monday. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 24.90 and a beta of 0.57. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.44 and a quick ratio of 2.44. CoreCivic, Inc. has a 12 month low of $15.73 and a 12 month high of $32.60. The stock's 50 day moving average price is $26.18 and its 200 day moving average price is $21.71.

Wall Street Analysts Forecast Growth

CXW has been the subject of a number of recent analyst reports. Noble Financial increased their price objective on CoreCivic from $28.00 to $35.00 and gave the stock an "outperform" rating in a report on Tuesday, July 7th. Weiss Ratings upgraded CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, July 1st. UBS Group set a $35.00 price target on CoreCivic in a research note on Tuesday, July 7th. Northland Securities set a $40.00 price target on CoreCivic in a report on Friday, June 26th. Finally, Benchmark upped their price objective 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 research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $36.20.

About CoreCivic

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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