Fortitude Advisory Group L.L.C. Purchases Shares of 14,000 CoreCivic, Inc. (NYSE:CXW)

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

A number of other institutional investors and hedge funds have also recently modified their holdings of CXW. Allianz Asset Management GmbH raised its position 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 valued at $32,893,000 after buying an additional 154,426 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of CoreCivic in the 4th quarter valued at $1,477,000. Nebula Research & Development LLC purchased a new stake in shares of CoreCivic in the 4th quarter valued at $361,000. Teacher Retirement System of Texas bought a new position in shares of CoreCivic during the fourth quarter valued at about $4,582,000. Finally, State of Tennessee Department of Treasury grew its position in CoreCivic by 65.5% during the 4th quarter. State of Tennessee Department of Treasury now owns 48,999 shares of the real estate investment trust's stock worth $1,065,000 after acquiring an additional 19,391 shares during the last quarter. 85.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CoreCivic

In related news, EVP Anthony L. Grande sold 10,000 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $22.22, for a total value of $222,200.00. Following the transaction, the executive vice president now directly owns 180,559 shares of the company's stock, valued at approximately $4,012,020.98. This represents a 5.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lucibeth Mayberry sold 75,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $21.49, for a total value of $1,611,750.00. Following the transaction, the executive vice president now directly owns 211,232 shares in the company, valued at approximately $4,539,375.68. The trade was a 26.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,246 shares of company stock worth $4,061,215. 2.30% of the stock is owned by corporate insiders.

CoreCivic Stock Down 0.9%

CoreCivic stock traded down $0.18 during trading hours on Friday, hitting $20.47. 1,535,703 shares of the stock traded hands, compared to its average volume of 1,156,963. CoreCivic, Inc. has a one year low of $11.23 and a one year high of $24.99. The firm's 50-day moving average price is $21.94 and its two-hundred day moving average price is $20.99. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.66. The company has a market cap of $2.23 billion, a PE ratio of 26.94 and a beta of 0.79.

CoreCivic (NYSE:CXW - Get Free Report) last released its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.10. CoreCivic had a return on equity of 5.75% and a net margin of 4.33%. The company had revenue of $488.60 million during the quarter, compared to analysts' expectations of $478.49 million. During the same quarter last year, the business posted $0.46 EPS. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. On average, research analysts forecast that CoreCivic, Inc. will post 1.5 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CXW. Wedbush restated an "outperform" rating and issued a $38.00 target price on shares of CoreCivic in a report on Wednesday, June 11th. Wall Street Zen upgraded CoreCivic from a "hold" rating to a "buy" rating in a report on Monday, June 9th.

CoreCivic Company 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.