Connor Clark & Lunn Investment Management Ltd. Acquires 75,470 Shares of CoreCivic, Inc. (NYSE:CXW)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 57.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 206,965 shares of the real estate investment trust's stock after buying an additional 75,470 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.19% of CoreCivic worth $4,199,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CXW. LPL Financial LLC lifted its stake in CoreCivic by 67.2% during the fourth quarter. LPL Financial LLC now owns 69,838 shares of the real estate investment trust's stock worth $1,518,000 after purchasing an additional 28,074 shares during the last quarter. Franklin Resources Inc. lifted its stake in CoreCivic by 52.7% during the fourth quarter. Franklin Resources Inc. now owns 51,038 shares of the real estate investment trust's stock worth $1,110,000 after purchasing an additional 17,608 shares during the last quarter. Wells Fargo & Company MN lifted its stake in CoreCivic by 33.2% during the fourth quarter. Wells Fargo & Company MN now owns 69,965 shares of the real estate investment trust's stock worth $1,521,000 after purchasing an additional 17,426 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in CoreCivic during the fourth quarter worth about $257,000. Finally, Russell Investments Group Ltd. lifted its stake in CoreCivic by 86,300.0% during the fourth quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust's stock worth $94,000 after purchasing an additional 4,315 shares during the last quarter. Institutional investors own 85.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CXW. Jones Trading reaffirmed a "buy" rating and set a $30.00 price target on shares of CoreCivic in a research note on Thursday, August 7th. Wedbush reaffirmed an "outperform" rating and set a $38.00 price target on shares of CoreCivic in a research note on Wednesday, June 11th. Finally, Wall Street Zen raised CoreCivic from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, CoreCivic presently has a consensus rating of "Buy" and an average target price of $33.33.

CoreCivic Trading Up 1.7%

Shares of NYSE CXW traded up $0.35 during midday trading on Friday, reaching $20.81. The company had a trading volume of 950,900 shares, compared to its average volume of 1,091,162. CoreCivic, Inc. has a one year low of $12.13 and a one year high of $24.99. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.68. The firm's fifty day moving average price is $20.79 and its 200-day moving average price is $20.68. The stock has a market cap of $2.23 billion, a PE ratio of 22.14 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 analysts' consensus estimates of $0.43 by $0.16. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%. The company 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 company posted $0.42 EPS. CoreCivic's revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts anticipate that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

Insider Buying and Selling

In other CoreCivic news, Director Stacia Hylton sold 4,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $21.69, for a total transaction of $86,760.00. Following the completion of the transaction, the director owned 82,969 shares of the company's stock, valued at $1,799,597.61. This represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Damon T. Hininger sold 72,246 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $22.50, for a total value of $1,625,535.00. Following the transaction, the chief executive officer directly owned 879,324 shares of the company's stock, valued at $19,784,790. The trade was a 7.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,246 shares of company stock worth $2,449,465. Insiders own 2.30% of the company's stock.

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.