CoreCivic, Inc. $CXW Shares Purchased by Martingale Asset Management L P

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 stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 36.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,749 shares of the real estate investment trust's stock after acquiring an additional 16,232 shares during the period. Martingale Asset Management L P owned 0.06% of CoreCivic worth $1,233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in CoreCivic by 10.0% in the 1st quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock valued at $105,000 after purchasing an additional 470 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in CoreCivic by 2.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,000 shares of the real estate investment trust's stock valued at $1,348,000 after acquiring an additional 1,322 shares during the last quarter. State of Wyoming lifted its stake in shares of CoreCivic by 7.5% during the 4th quarter. State of Wyoming now owns 20,796 shares of the real estate investment trust's stock worth $452,000 after purchasing an additional 1,443 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in shares of CoreCivic by 29.6% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 9,250 shares of the real estate investment trust's stock worth $187,000 after purchasing an additional 2,113 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of CoreCivic by 4.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 58,563 shares of the real estate investment trust's stock worth $1,273,000 after purchasing an additional 2,420 shares during the last quarter. Hedge funds and other institutional investors own 85.13% of the company's stock.

CoreCivic Stock Down 1.7%

NYSE CXW traded down $0.36 during trading hours on Thursday, hitting $20.19. The company had a trading volume of 367,240 shares, compared to its average volume of 1,113,325. The firm's 50 day moving average is $20.70 and its 200 day moving average is $20.73. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 21.55 and a beta of 0.80. CoreCivic, Inc. has a fifty-two week low of $12.13 and a fifty-two week high of $24.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60.

CoreCivic (NYSE:CXW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.16. The company had revenue of $538.17 million during 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 revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. Sell-side analysts anticipate that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at CoreCivic

In related news, Director Stacia Hylton sold 4,000 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $21.69, for a total transaction of $86,760.00. Following the completion of the sale, the director directly owned 82,969 shares of the company's stock, valued at approximately $1,799,597.61. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.30% of the company's stock.

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.