Martingale Asset Management L P Increases Stake in CoreCivic, Inc. $CXW

Key Points

• Martingale Asset Management L P increased its holdings in CoreCivic, Inc. by 36.5%, acquiring 16,232 shares to reach a total of 60,749 shares valued at approximately $1.23 million.
• Institutional investors own 85.13% of CoreCivic stock, with several firms, including Wells Fargo and First Trust Advisors, significantly increasing their positions in recent quarters.
• CoreCivic reported a quarterly earnings per share of $0.59, surpassing analyst expectations, and the stock currently has an average "Buy" rating with a price target of $33.33.

Martingale Asset Management L P lifted its position in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 36.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,749 shares of the real estate investment trust's stock after buying an additional 16,232 shares during the quarter. Martingale Asset Management L P owned approximately 0.06% of CoreCivic worth $1,233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CXW. Wells Fargo & Company MN boosted its position in CoreCivic by 33.2% during the fourth quarter. Wells Fargo & Company MN now owns 69,965 shares of the real estate investment trust's stock valued at $1,521,000 after purchasing an additional 17,426 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in CoreCivic in the fourth quarter valued at about $257,000. Russell Investments Group Ltd. raised its stake in CoreCivic by 86,300.0% in the fourth quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust's stock valued at $94,000 after buying an additional 4,315 shares during the last quarter. Barclays PLC raised its stake in CoreCivic by 4.6% in the fourth quarter. Barclays PLC now owns 192,799 shares of the real estate investment trust's stock valued at $4,192,000 after buying an additional 8,467 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in CoreCivic by 11.6% in the fourth quarter. First Trust Advisors LP now owns 329,603 shares of the real estate investment trust's stock valued at $7,166,000 after buying an additional 34,332 shares during the last quarter. Institutional investors own 85.13% of the company's stock.

CoreCivic Stock Performance

Shares of NYSE:CXW traded down $0.23 during trading on Friday, hitting $19.96. The stock had a trading volume of 154,088 shares, compared to its average volume of 1,109,000. CoreCivic, Inc. has a 12-month low of $12.13 and a 12-month high of $24.99. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 21.23 and a beta of 0.80. 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 stock has a 50-day simple moving average of $20.69 and a two-hundred day simple moving average of $20.74.

CoreCivic (NYSE:CXW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.16. The firm had revenue of $538.17 million during the quarter, compared to analysts' expectations of $499.02 million. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $0.42 earnings per share. On average, equities research analysts expect that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Jones Trading reiterated a "buy" rating and issued a $30.00 price target on shares of CoreCivic in a research note on Thursday, August 7th. Wedbush reiterated an "outperform" rating and issued a $38.00 price target on shares of CoreCivic in a research note on Wednesday, June 11th. Finally, Wall Street Zen upgraded CoreCivic from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $33.33.

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.