Fluent Financial LLC Buys Shares of 46,242 CoreCivic, Inc. $CXW

Key Points

• Fluent Financial LLC has acquired 46,242 shares of CoreCivic, Inc. totaling approximately $974,000 in value, according to their recent SEC filing.
• CoreCivic reported an earnings per share of $0.59 for the last quarter, which exceeds analyst projections of $0.43, with revenue increasing by 9.8% year-over-year.
• Institutional investors control 85.13% of CoreCivic's stock, and recent analysts’ ratings suggest a consensus target price of $33.33 with several "buy" recommendations.

Fluent Financial LLC purchased a new stake in CoreCivic, Inc. (NYSE:CXW - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 46,242 shares of the real estate investment trust's stock, valued at approximately $974,000.

A number of other institutional investors have also made changes to their positions in CXW. GAMMA Investing LLC lifted its stake in CoreCivic by 10.0% in the first quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock valued at $105,000 after buying an additional 470 shares during the period. Harbour Investments Inc. grew its position in shares of CoreCivic by 215.6% during the 1st quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust's stock worth $108,000 after buying an additional 3,646 shares during the period. Harvest Fund Management Co. Ltd increased its stake in shares of CoreCivic by 29.6% in 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 acquiring an additional 2,113 shares during the last quarter. SCS Capital Management LLC acquired a new stake in shares of CoreCivic in the 1st quarter valued at approximately $203,000. Finally, Fortitude Advisory Group L.L.C. bought a new position in CoreCivic during the 1st quarter worth approximately $307,000. 85.13% of the stock is owned by institutional investors and hedge funds.

CoreCivic Stock Performance

Shares of CoreCivic stock opened at $18.75 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 19.95 and a beta of 0.75. The stock's 50-day moving average is $20.40 and its 200-day moving average is $21.01. CoreCivic, Inc. has a one year low of $12.45 and a one year high of $24.99.

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 analysts' consensus estimates of $0.43 by $0.16. The business had revenue of $538.17 million for the quarter, compared to analyst estimates of $499.02 million. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.CoreCivic's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 EPS. Equities analysts predict that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on CXW shares. Wedbush reaffirmed an "outperform" rating and issued a $38.00 target price on shares of CoreCivic in a research note on Wednesday, June 11th. Jones Trading restated a "buy" rating and issued a $30.00 price objective on shares of CoreCivic in a research report on Thursday, August 7th. Wall Street Zen upgraded CoreCivic from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of CoreCivic in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $33.33.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the director owned 44,023 shares of the company's stock, valued at approximately $903,351.96. This trade represents a 11.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anthony L. Grande sold 22,500 shares of CoreCivic stock in a transaction on Thursday, September 11th. The shares were 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 owned 135,559 shares in the company, valued at $2,871,139.62. The trade was a 14.24% decrease in their ownership of the stock. 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 currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.