44,253 Shares in CoreCivic, Inc. $CXW Bought by Hodges Capital Management Inc.

Key Points

• Hodges Capital Management Inc. invested approximately $898,000 in CoreCivic, acquiring 44,253 shares of the company during the first quarter.
• Several hedge funds have also made changes to their positions in CoreCivic, with 85.13% of the stock now owned by institutional investors.
• Recent analyst ratings for CoreCivic include upgrades to a "strong-buy" and a price target increase to $30.00, indicating a positive outlook for the company's stock.

Hodges Capital Management Inc. purchased a new stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 44,253 shares of the real estate investment trust's stock, valued at approximately $898,000.

Other institutional investors have also added to or reduced their stakes in the company. Copia Wealth Management purchased a new stake in CoreCivic during the 4th quarter worth about $82,000. GAMMA Investing LLC increased 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 valued at $105,000 after purchasing an additional 470 shares during the last quarter. Harbour Investments Inc. grew its position in 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 acquiring an additional 3,646 shares during the last quarter. Harvest Fund Management Co. Ltd grew its position in 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 acquiring an additional 2,113 shares during the last quarter. Finally, SCS Capital Management LLC bought a new position in CoreCivic during the 1st quarter worth approximately $203,000. Hedge funds and other institutional investors own 85.13% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on CXW. Jones Trading reiterated a "buy" rating and issued a $30.00 price objective 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 issued a $38.00 target price on shares of CoreCivic in a research note on Wednesday, June 11th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CoreCivic presently has a consensus rating of "Buy" and a consensus target price of $33.33.

Insiders Place Their Bets

In other CoreCivic news, Director Thurgood Marshall, Jr. sold 6,000 shares of CoreCivic stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $20.52, for a total value of $123,120.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Anthony L. Grande sold 22,500 shares of CoreCivic stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $21.18, for a total value 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 approximately $2,871,139.62. The trade was a 14.24% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 51,000 shares of company stock valued at $1,042,545. Corporate insiders own 2.30% of the company's stock.

CoreCivic Stock Up 0.9%

NYSE:CXW traded up $0.19 during trading hours on Thursday, reaching $20.86. 237,328 shares of the company traded hands, compared to its average volume of 1,093,547. The business's 50-day moving average price is $20.49 and its two-hundred day moving average price is $20.91. The stock has a market capitalization of $2.23 billion, a P/E ratio of 22.17 and a beta of 0.81. CoreCivic, Inc. has a 1 year low of $12.24 and a 1 year high of $24.99. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.68.

CoreCivic (NYSE:CXW - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $499.02 million. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.The firm's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 earnings per share. Analysts predict that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

About CoreCivic

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.