JPMorgan Chase & Co. Has $7.57 Million Position in CoreCivic, Inc. $CXW

Key Points

• JPMorgan Chase & Co. boosted its stake in CoreCivic by 24.5% in Q3, owning 372,018 shares (about $7.57 million and ~0.36% of the company), while institutional investors collectively own 85.13% of the stock.
• Sell-side sentiment is positive with three Buys and one Hold, giving a consensus rating of "Moderate Buy" and a consensus target price of $32, versus the recent share price around $19.
• CoreCivic recently reported a quarterly EPS miss ($0.27 vs. $0.43 est.) despite revenue rising 26% year-over-year to $603.95 million.

JPMorgan Chase & Co. increased its holdings in CoreCivic, Inc. (NYSE:CXW - Free Report) by 24.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 372,018 shares of the real estate investment trust's stock after purchasing an additional 73,145 shares during the period. JPMorgan Chase & Co. owned approximately 0.36% of CoreCivic worth $7,571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of CoreCivic in the 3rd quarter valued at approximately $1,195,000. Aberdeen Group plc lifted its position in shares of CoreCivic by 44.5% during the 3rd quarter. Aberdeen Group plc now owns 604,774 shares of the real estate investment trust's stock worth $13,027,000 after buying an additional 186,174 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in CoreCivic by 126.3% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 173,354 shares of the real estate investment trust's stock valued at $3,528,000 after buying an additional 96,750 shares in the last quarter. Vanguard Group Inc. boosted its stake in CoreCivic by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,574,673 shares of the real estate investment trust's stock valued at $255,895,000 after buying an additional 183,923 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in CoreCivic by 1,004.1% in the second quarter. Quantbot Technologies LP now owns 146,406 shares of the real estate investment trust's stock valued at $3,085,000 after acquiring an additional 133,146 shares during the period. Institutional investors own 85.13% of the company's stock.

Wall Street Analyst Weigh In

CXW has been the subject of several recent analyst reports. Benchmark assumed coverage on CoreCivic in a research note on Tuesday, March 24th. They set a "buy" rating and a $28.00 price objective for the company. JonesTrading reaffirmed a "buy" rating and issued a $30.00 target price on shares of CoreCivic in a report on Friday, February 13th. Finally, Wall Street Zen upgraded shares of CoreCivic from a "hold" rating to a "buy" rating in a research report on Sunday, March 8th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $32.00.

CoreCivic Stock Down 2.0%

NYSE CXW opened at $19.06 on Tuesday. The firm has a market cap of $1.86 billion, a PE ratio of 17.65 and a beta of 0.72. CoreCivic, Inc. has a one year low of $15.73 and a one year high of $23.54. The stock's 50 day simple moving average is $18.67 and its 200 day simple moving average is $18.82. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.66 and a quick ratio of 1.66.

CoreCivic (NYSE:CXW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.16). The business had revenue of $603.95 million during the quarter, compared to the consensus estimate of $585.12 million. CoreCivic had a net margin of 5.27% and a return on equity of 8.17%. The company's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 EPS. As a group, sell-side analysts forecast that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

CoreCivic Company Profile

CoreCivic, Inc NYSE: CXW is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic's portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.

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