Dynamic Technology Lab Private Ltd Increases Stake in CoreCivic, Inc. $CXW

Key Points

• Dynamic Technology Lab Private Ltd increased its holdings in CoreCivic, Inc. by 149.3%, owning 31,101 shares valued at $631,000 as of its recent SEC filing.
• CoreCivic reported earnings of $0.59 per share, exceeding analyst expectations of $0.43, and its revenue of $538.17 million surpassed estimates of $499.02 million, marking a 9.8% increase from the previous year.
• Wall Street analysts have a positive outlook for CoreCivic, with multiple upgrades and a consensus Buy rating, accompanied by significant target prices ranging from $30.00 to $38.00 per share.

Dynamic Technology Lab Private Ltd lifted its stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 149.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,101 shares of the real estate investment trust's stock after buying an additional 18,627 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in CoreCivic were worth $631,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of CoreCivic by 10.0% during the 1st quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock worth $105,000 after buying an additional 470 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 worth $1,348,000 after buying an additional 1,322 shares during the period. State of Wyoming grew its position in shares of CoreCivic by 7.5% during the 4th quarter. State of Wyoming now owns 20,796 shares of the real estate investment trust's stock worth $452,000 after buying an additional 1,443 shares during the period. Harvest Fund Management Co. Ltd grew its position in shares of 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 worth $187,000 after buying an additional 2,113 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of CoreCivic by 4.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 58,563 shares of the real estate investment trust's stock worth $1,273,000 after buying an additional 2,420 shares during the period. Institutional investors and hedge funds own 85.13% of the company's stock.

Insider Buying and Selling at CoreCivic

In other news, EVP Anthony L. Grande sold 22,500 shares of the firm's stock in a transaction 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 sale, the executive vice president directly owned 135,559 shares of the company's stock, valued at $2,871,139.62. This trade represents a 14.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thurgood Marshall, Jr. sold 6,000 shares of the firm's stock in a transaction 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 sale, the director directly owned 44,023 shares of the company's stock, valued at approximately $903,351.96. This represents a 11.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,000 shares of company stock valued at $1,042,545. Insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

CXW has been the topic of a number of recent research reports. Jones Trading reiterated a "buy" rating and issued a $30.00 target price on shares of CoreCivic in a report on Thursday, August 7th. Wall Street Zen upgraded CoreCivic from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Wedbush restated an "outperform" rating and set a $38.00 price objective on shares of CoreCivic in a research note on Wednesday, June 11th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $33.33.

CoreCivic Stock Performance

Shares of CoreCivic stock traded down $0.33 during trading hours on Friday, hitting $21.09. 1,089,330 shares of the company's stock traded hands, compared to its average volume of 905,082. CoreCivic, Inc. has a 12-month low of $12.24 and a 12-month high of $24.99. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 22.44 and a beta of 0.81. The company has a fifty day simple moving average of $20.58 and a 200-day simple moving average of $20.86. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60.

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 (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.16. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.The firm had revenue of $538.17 million during the quarter, compared to analyst estimates of $499.02 million. During the same period last year, the firm posted $0.42 EPS. The business's revenue was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

CoreCivic Profile

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.