Hourglass Capital LLC Buys 41,790 Shares of CoreCivic, Inc. (NYSE:CXW)

Hourglass Capital LLC boosted its position in CoreCivic, Inc. (NYSE:CXW - Free Report) by 34.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,170 shares of the real estate investment trust's stock after purchasing an additional 41,790 shares during the quarter. Hourglass Capital LLC owned approximately 0.15% of CoreCivic worth $3,311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in 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 valued at $11,100,000 after purchasing an additional 12,374 shares during the period. Teacher Retirement System of Texas increased its stake in CoreCivic by 89.6% in the 1st quarter. Teacher Retirement System of Texas now owns 399,537 shares of the real estate investment trust's stock worth $8,107,000 after acquiring 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 approximately $514,000. Fortitude Advisory Group L.L.C. purchased a new stake in CoreCivic during the 1st quarter valued at $307,000. Finally, Ritholtz Wealth Management bought a new stake in CoreCivic in the first quarter worth $764,000. 85.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on CXW shares. Wedbush reaffirmed an "outperform" rating and set a $38.00 price objective on shares of CoreCivic in a research note on Wednesday, June 11th. Wall Street Zen lowered shares of CoreCivic from a "buy" rating to a "hold" rating in a research note on Saturday.

Insider Transactions at CoreCivic

In related news, COO Patrick D. Swindle sold 23,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $22.39, for a total transaction of $514,970.00. Following the completion of the sale, the chief operating officer directly owned 241,630 shares in the company, valued at approximately $5,410,095.70. This trade represents a 8.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Damon T. Hininger sold 72,246 shares of the firm's 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 transaction, the chief executive officer directly owned 879,324 shares of the company's stock, valued at approximately $19,784,790. The trade was a 7.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,246 shares of company stock valued at $4,061,215. Company insiders own 2.30% of the company's stock.

CoreCivic Stock Up 3.8%

Shares of CXW opened at $22.50 on Tuesday. 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 firm has a fifty day moving average price of $21.71 and a 200-day moving average price of $20.93. The firm has a market capitalization of $2.46 billion, a P/E ratio of 29.61 and a beta of 0.77. CoreCivic, Inc. has a 12-month low of $11.82 and a 12-month high of $24.99.

CoreCivic (NYSE:CXW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $488.60 million for the quarter, compared to the consensus estimate of $478.49 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts expect that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

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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