KCM Capital Inc Takes $10.40 Million Position in CoreCivic, Inc. $CXW

Key Points

• KCM Capital Inc. initiated a new position in CoreCivic, buying 550,000 shares worth about $10.4 million in the first quarter. The stake represents about 1.7% of KCM Capital’s holdings and 0.56% of CoreCivic.
• Institutional ownership remains heavy, with hedge funds and other investors holding about 85.13% of CoreCivic shares. Several other firms also recently increased or started positions in the stock.
• Analyst sentiment is positive, with multiple firms issuing Buy ratings and price targets as high as $41.00. The consensus rating is Buy, with a consensus price target of $36.20.

KCM Capital Inc bought a new position in CoreCivic, Inc. (NYSE:CXW - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 550,000 shares of the real estate investment trust's stock, valued at approximately $10,400,000. CoreCivic accounts for about 1.7% of KCM Capital Inc's holdings, making the stock its 18th largest holding. KCM Capital Inc owned about 0.56% of CoreCivic as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CXW. NBC Securities Inc. raised its position in CoreCivic by 533.9% during the fourth quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 1,228 shares during the period. Leonteq Securities AG acquired a new stake in CoreCivic during the 4th quarter worth about $57,000. Smartleaf Asset Management LLC boosted its position in CoreCivic by 33.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust's stock worth $59,000 after acquiring an additional 702 shares during the period. Fifth Third Bancorp grew its stake in CoreCivic by 320.7% during the 4th quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust's stock valued at $64,000 after acquiring an additional 2,546 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in CoreCivic during the 4th quarter valued at about $71,000. Hedge funds and other institutional investors own 85.13% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CXW shares. Wall Street Zen lowered shares of CoreCivic from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. UBS Group set a $35.00 price objective on shares of CoreCivic in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, July 1st. Benchmark increased their target price on shares of CoreCivic from $36.00 to $41.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Finally, Northland Securities set a $40.00 target price on shares of CoreCivic in a research note on Friday, June 26th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $36.20.

CoreCivic Stock Performance

Shares of NYSE CXW opened at $32.19 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.44 and a quick ratio of 2.44. CoreCivic, Inc. has a one year low of $15.73 and a one year high of $32.69. The business's 50-day moving average price is $26.90 and its two-hundred day moving average price is $21.98. The company has a market capitalization of $3.18 billion, a P/E ratio of 26.17 and a beta of 0.57.

About CoreCivic

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.