Hourglass Capital LLC Increases Holdings in CoreCivic, Inc. (NYSE:CXW)

Hourglass Capital LLC raised its stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 34.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 163,170 shares of the real estate investment trust's stock after acquiring an additional 41,790 shares during the period. Hourglass Capital LLC owned approximately 0.15% of CoreCivic worth $3,311,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its position in CoreCivic by 2.3% during the first quarter. Principal Financial Group Inc. now owns 547,061 shares of the real estate investment trust's stock valued at $11,100,000 after purchasing an additional 12,374 shares during the period. Teacher Retirement System of Texas raised its stake in CoreCivic by 89.6% during the 1st quarter. Teacher Retirement System of Texas now owns 399,537 shares of the real estate investment trust's stock valued at $8,107,000 after buying an additional 188,778 shares during the last quarter. Woodmont Investment Counsel LLC bought a new position in shares of CoreCivic during the 1st quarter valued at $514,000. Fortitude Advisory Group L.L.C. purchased a new position in shares of CoreCivic in the 1st quarter worth $307,000. Finally, Ritholtz Wealth Management purchased a new position in shares of CoreCivic in the 1st quarter worth $764,000. Hedge funds and other institutional investors own 85.13% of the company's stock.

Insider Transactions at CoreCivic

In other news, CEO Damon T. Hininger sold 72,246 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $22.50, for a total transaction of $1,625,535.00. Following the sale, the chief executive officer directly owned 879,324 shares of the company's stock, valued at $19,784,790. This represents a 7.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stacia Hylton sold 4,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were 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 $1,799,597.61. This represents a 4.60% 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 valued at $4,061,215. 2.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on CXW. Wall Street Zen cut CoreCivic from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Wedbush reaffirmed an "outperform" rating and set a $38.00 price target on shares of CoreCivic in a research report on Wednesday, June 11th.

CoreCivic Stock Performance

Shares of NYSE:CXW traded down $0.31 during midday trading on Friday, hitting $21.93. The company had a trading volume of 644,771 shares, compared to its average volume of 1,126,770. CoreCivic, Inc. has a 12-month low of $11.82 and a 12-month high of $24.99. The company has a fifty day moving average of $21.66 and a two-hundred day moving average of $20.96. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 28.85 and a beta of 0.77. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.55 and a quick ratio of 1.55.

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

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.