Mackenzie Financial Corp Buys 72,752 Shares of CoreCivic, Inc. (NYSE:CXW)

Key Points

• Mackenzie Financial Corp significantly increased its stake in CoreCivic, acquiring 72,752 shares, which raised its position by 445.0% during the first quarter, bringing its total ownership to 89,102 shares valued at approximately $1.8 million.
• Recent insider trading activities included COO Patrick D. Swindle and CEO Damon T. Hininger selling shares, with Swindle's transaction totaling about $514,970 and Hininger's reaching approximately $1.63 million, reflecting decreases of 8.69% and 7.59% in their respective holdings.
• Analysts maintain a generally positive outlook for CoreCivic, with an average rating of "Moderate Buy" and a target price of approximately $33.33, following a range of buy and outperform ratings from multiple research reports.

Mackenzie Financial Corp grew its holdings in CoreCivic, Inc. (NYSE:CXW - Free Report) by 445.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 89,102 shares of the real estate investment trust's stock after purchasing an additional 72,752 shares during the period. Mackenzie Financial Corp owned approximately 0.08% of CoreCivic worth $1,808,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CXW. Copia Wealth Management acquired a new position in CoreCivic during the fourth quarter worth about $82,000. Russell Investments Group Ltd. lifted its stake in CoreCivic by 86,300.0% in the 4th quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust's stock valued at $94,000 after purchasing an additional 4,315 shares during the last quarter. GAMMA Investing LLC boosted its position in CoreCivic by 10.0% in the first quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock valued at $105,000 after buying an additional 470 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of CoreCivic during the fourth quarter worth $211,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of CoreCivic in the 4th quarter valued at $257,000. Institutional investors and hedge funds own 85.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CXW. Wall Street Zen cut CoreCivic from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Wedbush reaffirmed an "outperform" rating and issued a $38.00 price objective on shares of CoreCivic in a research note on Wednesday, June 11th. Finally, Jones Trading reiterated a "buy" rating and set a $30.00 target price on shares of CoreCivic in a research report on Friday, July 18th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $33.33.

Insider Buying and Selling at CoreCivic

In other news, EVP Lucibeth Mayberry sold 75,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $21.49, for a total value of $1,611,750.00. Following the transaction, the executive vice president directly owned 211,232 shares of the company's stock, valued at $4,539,375.68. The trade was a 26.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stacia Hylton sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $21.69, for a total value of $86,760.00. Following the sale, the director directly owned 82,969 shares of the company's stock, valued at $1,799,597.61. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,246 shares of company stock valued at $4,061,215 over the last three months. 2.30% of the stock is currently owned by corporate insiders.

CoreCivic Trading Down 2.1%

Shares of NYSE CXW traded down $0.42 during trading on Wednesday, reaching $19.70. The company had a trading volume of 2,218,539 shares, compared to its average volume of 1,113,886. CoreCivic, Inc. has a 12 month low of $11.98 and a 12 month high of $24.99. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.66. The stock has a market cap of $2.15 billion, a P/E ratio of 25.91 and a beta of 0.80. The company's fifty day moving average price is $21.03 and its 200-day moving average price is $20.74.

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 for the quarter, beating analysts' consensus estimates of $0.41 by $0.18. CoreCivic had a net margin of 4.33% and a return on equity of 5.75%. As a group, research analysts expect that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

CoreCivic Company 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.