Counterpoint Mutual Funds LLC Invests $415,000 in CoreCivic, Inc. $CXW

Key Points

• Counterpoint Mutual Funds LLC invested approximately $415,000 to acquire a new stake in CoreCivic, Inc., acquiring 19,701 shares during the second quarter.
• Insider transactions indicate that Director Thurgood Marshall, Jr. and EVP Anthony L. Grande sold shares recently, collectively reducing their holdings significantly.
• CoreCivic reported a better-than-expected earnings per share of $0.59 for the last quarter, exceeding analysts' estimates of $0.43, alongside a notable revenue increase of 9.8% year-over-year.

Counterpoint Mutual Funds LLC acquired a new stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 19,701 shares of the real estate investment trust's stock, valued at approximately $415,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Copia Wealth Management purchased a new stake in shares of CoreCivic in the fourth quarter worth $82,000. GAMMA Investing LLC boosted its stake in CoreCivic by 10.0% in the 1st quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock worth $105,000 after purchasing an additional 470 shares in the last quarter. Harbour Investments Inc. grew its position in CoreCivic by 215.6% during the 1st quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust's stock valued at $108,000 after purchasing an additional 3,646 shares during the last quarter. Harvest Fund Management Co. Ltd increased 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 purchasing an additional 2,113 shares in the last quarter. Finally, SCS Capital Management LLC purchased a new position in CoreCivic in the first quarter worth about $203,000. 85.13% of the stock is owned by institutional investors.

Insider Transactions at CoreCivic

In other news, Director Thurgood Marshall, Jr. sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $20.52, for a total value of $123,120.00. Following the transaction, the director owned 44,023 shares in the company, valued at $903,351.96. This represents a 11.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Anthony L. Grande sold 22,500 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $21.18, for a total transaction of $476,550.00. Following the completion of the transaction, the executive vice president directly owned 135,559 shares in the company, valued at approximately $2,871,139.62. The trade was a 14.24% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 51,000 shares of company stock worth $1,042,545. 2.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

CoreCivic Stock Up 0.1%

Shares of CoreCivic stock opened at $21.18 on Wednesday. CoreCivic, Inc. has a twelve month low of $12.24 and a twelve month 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 company's 50 day moving average is $20.42 and its 200 day moving average is $20.99. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 22.53 and a beta of 0.81.

CoreCivic (NYSE:CXW - Get Free Report) last announced 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. The business had revenue of $538.17 million during the quarter, compared to analyst estimates of $499.02 million. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. Research analysts anticipate that CoreCivic, Inc. will post 1.5 EPS for the current year.

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.

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