Invesco Ltd. Reduces Stock Holdings in CoreCivic, Inc. $CXW

Key Points

• Invesco Ltd. reduced its stake in CoreCivic, Inc. by 47.0%, now owning 374,411 shares valued at approximately $7.60 million.
• Institutional investors have shown varying interest, with Millennium Management increasing its position by 88.4% and several others making significant adjustments in their holdings during the fourth quarter.
• CoreCivic reported a quarterly EPS of $0.59, surpassing estimates, with revenue reaching $538.17 million, a 9.8% year-over-year increase.

Invesco Ltd. lowered its stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 47.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 374,411 shares of the real estate investment trust's stock after selling 331,727 shares during the period. Invesco Ltd. owned 0.34% of CoreCivic worth $7,597,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Copia Wealth Management acquired a new stake in shares of CoreCivic during the fourth quarter valued at $82,000. GAMMA Investing LLC boosted its stake in shares of CoreCivic by 10.0% during the first quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock valued at $105,000 after acquiring an additional 470 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of CoreCivic by 215.6% during the first quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust's stock valued at $108,000 after acquiring an additional 3,646 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of CoreCivic by 29.6% during the first quarter. Harvest Fund Management Co. Ltd now owns 9,250 shares of the real estate investment trust's stock valued at $187,000 after acquiring an additional 2,113 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of CoreCivic during the fourth quarter valued at $211,000. Institutional investors and hedge funds own 85.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. 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 raised CoreCivic from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Jones Trading reissued a "buy" rating and issued a $30.00 price target on shares of CoreCivic in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CoreCivic currently has a consensus rating of "Buy" and a consensus price target of $33.33.

CoreCivic Trading Up 0.4%

Shares of CoreCivic stock traded up $0.08 during trading hours on Friday, reaching $20.26. The stock had a trading volume of 1,119,646 shares, compared to its average volume of 1,133,378. The firm has a 50 day simple moving average of $20.69 and a two-hundred day simple moving average of $20.78. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 21.56 and a beta of 0.81. 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, 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 quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.16. The company had revenue of $538.17 million for the quarter, compared to the consensus estimate of $499.02 million. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $0.42 EPS. As a group, equities research analysts anticipate 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.