Fortitude Advisory Group L.L.C. Purchases New Stake in CoreCivic, Inc. (NYSE:CXW)

Fortitude Advisory Group L.L.C. acquired a new position in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,000 shares of the real estate investment trust's stock, valued at approximately $307,000.

Other hedge funds have also added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its stake in shares of CoreCivic by 11.4% during the 4th quarter. Allianz Asset Management GmbH now owns 1,513,031 shares of the real estate investment trust's stock worth $32,893,000 after purchasing an additional 154,426 shares during the last quarter. Empowered Funds LLC bought a new position in CoreCivic during the fourth quarter valued at $1,477,000. Nebula Research & Development LLC purchased a new stake in CoreCivic in the fourth quarter worth $361,000. Teacher Retirement System of Texas bought a new stake in shares of CoreCivic in the fourth quarter valued at $4,582,000. Finally, State of Tennessee Department of Treasury raised its stake in shares of CoreCivic by 65.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 48,999 shares of the real estate investment trust's stock valued at $1,065,000 after buying an additional 19,391 shares during the period. Institutional investors own 85.13% of the company's stock.

CoreCivic Trading Up 0.4%

Shares of CXW opened at $20.70 on Tuesday. The business's 50-day moving average price is $21.94 and its 200-day moving average price is $21.00. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 0.65. CoreCivic, Inc. has a twelve month low of $11.23 and a twelve month high of $24.99. The stock has a market cap of $2.26 billion, a PE ratio of 33.93 and a beta of 0.79.

CoreCivic (NYSE:CXW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 EPS for the quarter, beating the consensus estimate of $0.35 by $0.10. The firm had revenue of $488.60 million during the quarter, compared to the consensus estimate of $478.49 million. CoreCivic had a net margin of 3.51% and a return on equity of 5.97%. The business's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.46 EPS. On average, equities analysts forecast that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling

In other CoreCivic news, CEO Damon T. Hininger sold 72,246 shares of CoreCivic stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $22.50, for a total transaction of $1,625,535.00. Following the completion of the sale, the chief executive officer now directly owns 879,324 shares in the company, valued at $19,784,790. The trade was a 7.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lucibeth Mayberry sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $21.49, for a total transaction of $1,611,750.00. Following the completion of the transaction, the executive vice president now directly owns 211,232 shares of the company's stock, valued at approximately $4,539,375.68. This represents a 26.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,246 shares of company stock worth $4,061,215 over the last ninety days. 2.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CXW has been the subject of several research reports. Wall Street Zen upgraded CoreCivic from a "hold" rating to a "buy" rating in a research note on Monday, June 9th. Wedbush reiterated an "outperform" rating and set a $38.00 target price on shares of CoreCivic in a research report on Wednesday, June 11th.

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.

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