Maverick Capital Ltd. Raises Position in CoreCivic, Inc. $CXW

Key Points

• Maverick Capital Ltd. increased its stake in CoreCivic, Inc. by 157.8%, purchasing an additional 28,954 shares, bringing its total holdings to 47,299 shares valued at approximately $960,000.
• CoreCivic reported a strong quarterly performance with an earnings per share (EPS) of $0.59, exceeding analyst expectations, and revealed revenues of $538.17 million, marking a year-over-year growth of 9.8%.
• Analysts remain optimistic about CoreCivic, with several firms upgrading their ratings, leading to an average target price of $33.33 for the stock, which is currently rated as "Buy" by most analysts.

Maverick Capital Ltd. lifted its holdings in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 157.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,299 shares of the real estate investment trust's stock after acquiring an additional 28,954 shares during the quarter. Maverick Capital Ltd.'s holdings in CoreCivic were worth $960,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Copia Wealth Management bought a new stake in shares of CoreCivic during the 4th quarter valued at $82,000. GAMMA Investing LLC lifted its position in shares of CoreCivic by 10.0% during the 1st quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock valued at $105,000 after acquiring an additional 470 shares during the period. Harbour Investments Inc. lifted its position in shares of CoreCivic by 215.6% during the 1st quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust's stock valued at $108,000 after acquiring an additional 3,646 shares during the period. Harvest Fund Management Co. Ltd raised its holdings 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 buying an additional 2,113 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of CoreCivic during the 4th quarter worth $211,000. 85.13% of the stock is currently owned by institutional investors.

CoreCivic Trading Down 1.1%

Shares of NYSE CXW traded down $0.22 during trading on Friday, reaching $19.65. The company had a trading volume of 685,150 shares, compared to its average volume of 945,654. The company's fifty day moving average price is $20.64 and its 200-day moving average price is $20.80. CoreCivic, Inc. has a 12 month low of $12.13 and a 12 month high of $24.99. The stock has a market cap of $2.10 billion, a P/E ratio of 20.90 and a beta of 0.81. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.68.

CoreCivic (NYSE:CXW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.16. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.The firm had revenue of $538.17 million for the quarter, compared to analyst estimates of $499.02 million. During the same quarter in the previous year, the company posted $0.42 EPS. The business's revenue was up 9.8% on a year-over-year basis. As a group, research analysts expect that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wall Street Zen raised CoreCivic from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Wedbush reissued an "outperform" rating and set a $38.00 price target on shares of CoreCivic in a report on Wednesday, June 11th. Finally, Jones Trading reissued a "buy" rating and set a $30.00 price target on shares of CoreCivic in a report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock 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.