Ritholtz Wealth Management Sells 57,414 Shares of CoreCivic, Inc. $CXW

Key Points

• Ritholtz Wealth Management cut its position in CoreCivic by 64%, selling 57,414 shares in Q4 and now holds 32,242 shares worth $616,000 per its latest 13F filing.
• CoreCivic beat Q4 expectations with EPS of $0.52 versus $0.43 estimated and revenue of $603.95M (up 26% YoY), and the stock carries a consensus “Moderate Buy” rating with an average target of $32.00.
• Institutional investors own about 85.13% of CXW, which trades around $20.11 with a market cap of $1.99B and a P/E of 18.62.

Ritholtz Wealth Management decreased its holdings in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 64.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,242 shares of the real estate investment trust's stock after selling 57,414 shares during the period. Ritholtz Wealth Management's holdings in CoreCivic were worth $616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its stake in CoreCivic by 33.0% during the second quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust's stock worth $59,000 after purchasing an additional 702 shares during the period. Texas Permanent School Fund Corp lifted its stake in CoreCivic by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 121,147 shares of the real estate investment trust's stock worth $2,553,000 after purchasing an additional 709 shares during the period. Lazard Asset Management LLC lifted its stake in CoreCivic by 10.4% during the second quarter. Lazard Asset Management LLC now owns 10,595 shares of the real estate investment trust's stock worth $223,000 after purchasing an additional 1,002 shares during the period. Guidance Capital Inc. lifted its stake in CoreCivic by 5.0% during the third quarter. Guidance Capital Inc. now owns 26,749 shares of the real estate investment trust's stock worth $502,000 after purchasing an additional 1,274 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in CoreCivic by 19.1% during the second quarter. Osaic Holdings Inc. now owns 10,102 shares of the real estate investment trust's stock worth $213,000 after purchasing an additional 1,618 shares during the period. Institutional investors own 85.13% of the company's stock.

CoreCivic Stock Performance

NYSE:CXW opened at $20.11 on Thursday. CoreCivic, Inc. has a 1 year low of $15.73 and a 1 year high of $23.54. The firm has a 50 day moving average of $18.87 and a 200-day moving average of $18.74. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1.99 billion, a P/E ratio of 18.62 and a beta of 0.61.

CoreCivic (NYSE:CXW - Get Free Report) last posted its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.09. CoreCivic had a net margin of 5.27% and a return on equity of 8.17%. The company had revenue of $603.95 million during the quarter, compared to analysts' expectations of $585.12 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. CoreCivic's quarterly revenue was up 26.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CXW. JonesTrading restated a "buy" rating and set a $30.00 price target on shares of CoreCivic in a research note on Friday, February 13th. Benchmark began coverage on shares of CoreCivic in a research note on Tuesday, March 24th. They set a "buy" rating and a $28.00 price target for the company. Finally, Wall Street Zen cut shares of CoreCivic from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $32.00.

About CoreCivic

CoreCivic, Inc NYSE: CXW is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic's portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.

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