Fox Run Management L.L.C. Decreases Stake in CoreCivic, Inc. $CXW

Key Points

• Fox Run Management L.L.C. significantly reduced its holdings in CoreCivic, Inc. by 85.1% in the first quarter, now owning only 10,477 shares valued at $213,000.
• Other institutional investors, such as Russell Investments Group Ltd. and Nuveen LLC, increased their positions in CoreCivic, with Russell's stake rising by 2,355.7% to 106,087 shares worth over $2 million.
• CoreCivic reported better-than-expected earnings of $0.59 per share in its latest quarter, exceeding analyst estimates and showing a revenue increase of 9.8% from the previous year.

Fox Run Management L.L.C. lowered its stake in CoreCivic, Inc. (NYSE:CXW - Free Report) by 85.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,477 shares of the real estate investment trust's stock after selling 59,674 shares during the period. Fox Run Management L.L.C.'s holdings in CoreCivic were worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Woodmont Investment Counsel LLC acquired a new stake in CoreCivic in the 1st quarter valued at about $514,000. Wedge Capital Management L L P NC lifted its position in shares of CoreCivic by 29.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 79,527 shares of the real estate investment trust's stock worth $1,614,000 after purchasing an additional 18,036 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of CoreCivic by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 547,061 shares of the real estate investment trust's stock worth $11,100,000 after purchasing an additional 12,374 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of CoreCivic by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 12,215,492 shares of the real estate investment trust's stock worth $247,852,000 after purchasing an additional 267,198 shares during the last quarter. Finally, Nebula Research & Development LLC purchased a new stake in shares of CoreCivic during the 4th quarter worth $361,000. Institutional investors and hedge funds own 85.13% of the company's stock.

Wall Street Analysts Forecast Growth

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

CoreCivic Stock Performance

CXW traded up $0.1240 during trading on Monday, hitting $20.9140. 495,320 shares of the stock were exchanged, compared to its average volume of 1,114,883. The stock has a fifty day moving average price of $20.71 and a two-hundred day moving average price of $20.72. CoreCivic, Inc. has a 1-year low of $12.13 and a 1-year 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 firm has a market capitalization of $2.24 billion, a P/E ratio of 22.28 and a beta of 0.80.

CoreCivic (NYSE:CXW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.16. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The business had revenue of $538.17 million during the quarter, compared to analysts' expectations of $499.02 million. During the same period in the prior year, the company earned $0.42 earnings per share. The business's revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts predict that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

Insider Activity

In other news, Director Stacia Hylton sold 4,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $21.69, for a total value of $86,760.00. Following the transaction, the director owned 82,969 shares of the company's stock, valued at approximately $1,799,597.61. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company's stock.

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.