Invenomic Capital Management LP Has $18.41 Million Stock Position in CoreCivic, Inc. $CXW

Key Points

• Invenomic Capital Management LP increased its stake in CoreCivic by 99.5%, acquiring an additional 452,559 shares, bringing its total holdings to 907,390 shares.
• CoreCivic reported a quarterly EPS of $0.59, surpassing analyst expectations and posting a revenue of $538.17 million, which is a 9.8% increase year-over-year.
• Analysts have upgraded CoreCivic's stock ratings, with Wall Street Zen changing it to a "strong-buy" and several firms setting price targets as high as $38.00.

Invenomic Capital Management LP increased its stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 99.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 907,390 shares of the real estate investment trust's stock after purchasing an additional 452,559 shares during the period. CoreCivic makes up approximately 0.9% of Invenomic Capital Management LP's investment portfolio, making the stock its 29th largest holding. Invenomic Capital Management LP owned about 0.83% of CoreCivic worth $18,411,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Millennium Management LLC lifted its holdings in CoreCivic by 88.4% during the fourth quarter. Millennium Management LLC now owns 1,261,944 shares of the real estate investment trust's stock worth $27,435,000 after acquiring an additional 592,070 shares in the last quarter. Nuveen LLC bought a new position in CoreCivic during the first quarter worth about $10,629,000. Voloridge Investment Management LLC bought a new position in CoreCivic during the fourth quarter worth about $11,194,000. Two Sigma Investments LP lifted its holdings in CoreCivic by 1,428.2% during the fourth quarter. Two Sigma Investments LP now owns 480,275 shares of the real estate investment trust's stock worth $10,441,000 after acquiring an additional 448,848 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in CoreCivic by 35.4% during the first quarter. Wellington Management Group LLP now owns 1,073,573 shares of the real estate investment trust's stock worth $21,783,000 after acquiring an additional 280,495 shares in the last quarter. 85.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on CXW. Jones Trading reiterated a "buy" rating and set a $30.00 target price 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 report on Saturday, August 9th. Finally, Wedbush reissued an "outperform" rating and issued a $38.00 price target on shares of CoreCivic in a research note on Wednesday, June 11th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, CoreCivic has an average rating of "Buy" and an average target price of $33.33.

CoreCivic Stock Down 0.3%

Shares of NYSE:CXW traded down $0.07 during midday trading on Wednesday, reaching $20.36. The company had a trading volume of 229,364 shares, compared to its average volume of 1,097,362. 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 business's 50 day moving average price is $20.60 and its 200 day moving average price is $20.82. The stock has a market cap of $2.18 billion, a PE ratio of 21.68 and a beta of 0.81. CoreCivic, Inc. has a 1-year low of $12.13 and a 1-year high of $24.99.

CoreCivic (NYSE:CXW - Get Free Report) last released its earnings results 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. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.The business had revenue of $538.17 million for the quarter, compared to the consensus estimate of $499.02 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. CoreCivic's quarterly revenue was up 9.8% on a year-over-year basis. Research analysts forecast that CoreCivic, Inc. will post 1.5 EPS for the current fiscal 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.