New Age Alpha Advisors LLC Takes $2.29 Million Position in CoreCivic, Inc. (NYSE:CXW)

Key Points

• New Age Alpha Advisors LLC acquired a new position in CoreCivic, Inc. by purchasing 112,751 shares valued at approximately $2.29 million during the first quarter.
• Recent insider trading includes Lucibeth Mayberry, EVP, selling 75,000 shares and Damon T. Hininger, CEO, selling 72,246 shares, indicating decreased ownership stakes by both executives.
• CoreCivic's stock recently increased by 2.3%, reaching $20.45, and has an average price target of $33.33 according to several Wall Street analysts.

New Age Alpha Advisors LLC acquired a new stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 112,751 shares of the real estate investment trust's stock, valued at approximately $2,288,000. New Age Alpha Advisors LLC owned about 0.10% of CoreCivic as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CXW. Copia Wealth Management acquired a new stake in shares of CoreCivic during the 4th quarter worth approximately $82,000. Russell Investments Group Ltd. grew its position 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 acquiring an additional 4,315 shares in the last quarter. GAMMA Investing LLC grew its position in shares of CoreCivic by 10.0% during the first quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock worth $105,000 after buying an additional 470 shares in the last quarter. Harbour Investments Inc. boosted its holdings in CoreCivic by 215.6% in the first quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust's stock valued at $108,000 after purchasing an additional 3,646 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its stake in CoreCivic by 29.6% in the first quarter. Harvest Fund Management Co. Ltd now owns 9,250 shares of the real estate investment trust's stock valued at $187,000 after buying an additional 2,113 shares during the last quarter. 85.13% of the stock is owned by hedge funds and other institutional investors.

CoreCivic Stock Down 1.2%

Shares of NYSE CXW traded down $0.25 during mid-day trading on Monday, hitting $20.25. The company had a trading volume of 108,674 shares, compared to its average volume of 1,116,142. The company has a market capitalization of $2.17 billion, a PE ratio of 21.59 and a beta of 0.80. The firm has a 50-day simple moving average of $20.92 and a two-hundred day simple moving average of $20.68. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.68. CoreCivic, Inc. has a one year low of $12.13 and a one year high of $24.99.

CoreCivic (NYSE:CXW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.16. The business 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 firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 earnings per share. On average, equities analysts expect that CoreCivic, Inc. will post 1.5 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Lucibeth Mayberry sold 75,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $21.49, for a total transaction of $1,611,750.00. Following the transaction, the executive vice president owned 211,232 shares in the company, valued at $4,539,375.68. The trade was a 26.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $86,760.00. Following the completion of the sale, the director owned 82,969 shares in the company, 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 sold 184,246 shares of company stock worth $4,061,215 in the last three months. Insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CXW shares. Wall Street Zen raised CoreCivic from a "hold" rating to a "strong-buy" rating in a report on Saturday. Wedbush reissued 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 reissued a "buy" rating and issued a $30.00 price target on shares of CoreCivic in a research report on Thursday. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CoreCivic currently has an average rating of "Buy" and an average price target 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.