Raymond James Financial Inc. Acquires 15,996 Shares of CoreCivic, Inc. $CXW

Key Points

• Raymond James Financial Inc. increased its position in CoreCivic, Inc. by 3.0% in the first quarter, acquiring an additional 15,996 shares, bringing its total to 555,671 shares valued at approximately $11.3 million.
• CoreCivic received positive ratings from analysts, with Wall Street Zen upgrading it to "strong-buy" and several analysts setting target prices ranging from $30.00 to $38.00 per share.
• CoreCivic reported earnings of $0.59 per share for the most recent quarter, exceeding analysts' estimates and reflecting a 9.8% year-over-year revenue increase to $538.17 million.

Raymond James Financial Inc. increased its position in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 3.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 555,671 shares of the real estate investment trust's stock after buying an additional 15,996 shares during the period. Raymond James Financial Inc. owned 0.51% of CoreCivic worth $11,275,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CXW. Woodmont Investment Counsel LLC acquired a new position in shares of CoreCivic during the first quarter valued at about $514,000. Wedge Capital Management L L P NC grew its holdings in shares of CoreCivic by 29.3% during the first quarter. Wedge Capital Management L L P NC now owns 79,527 shares of the real estate investment trust's stock valued at $1,614,000 after buying an additional 18,036 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of CoreCivic by 2.2% during the first quarter. Vanguard Group Inc. now owns 12,215,492 shares of the real estate investment trust's stock valued at $247,852,000 after buying an additional 267,198 shares during the last quarter. Principal Financial Group Inc. raised its position in CoreCivic by 2.3% in the first quarter. Principal Financial Group Inc. now owns 547,061 shares of the real estate investment trust's stock worth $11,100,000 after acquiring an additional 12,374 shares during the period. Finally, Ritholtz Wealth Management bought a new stake in CoreCivic during the 1st quarter worth approximately $764,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.

CoreCivic Stock Performance

NYSE:CXW traded down $0.22 during mid-day trading on Friday, hitting $19.65. The stock had a trading volume of 86,247 shares, compared to its average volume of 1,099,775. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 20.86 and a beta of 0.81. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.68. The company has a 50 day simple moving average of $20.67 and a 200-day simple moving average of $20.79. CoreCivic, Inc. has a 52 week low of $12.13 and a 52 week high of $24.99.

CoreCivic (NYSE:CXW - Get Free Report) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 5.21% and a return on equity of 7.12%. The company's revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. On average, research analysts expect that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CXW has been the topic of several recent research reports. Wall Street Zen upgraded CoreCivic from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Wedbush reiterated 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 restated a "buy" rating and set a $30.00 price target on shares of CoreCivic in a research report on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $33.33.

About CoreCivic

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.