Ritholtz Wealth Management Buys Shares of 37,649 CoreCivic, Inc. (NYSE:CXW)

Ritholtz Wealth Management acquired a new position in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 37,649 shares of the real estate investment trust's stock, valued at approximately $764,000.

Other institutional investors have also modified their holdings of the company. Allianz Asset Management GmbH lifted its position in shares of CoreCivic by 11.4% during the 4th quarter. Allianz Asset Management GmbH now owns 1,513,031 shares of the real estate investment trust's stock worth $32,893,000 after purchasing an additional 154,426 shares during the last quarter. Nebula Research & Development LLC purchased a new stake in shares of CoreCivic during the 4th quarter worth $361,000. Wedge Capital Management L L P NC lifted its position in shares of CoreCivic by 29.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 79,527 shares of the real estate investment trust's stock worth $1,614,000 after purchasing an additional 18,036 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of CoreCivic during the 4th quarter worth $4,582,000. Finally, State of Tennessee Department of Treasury lifted its position in shares of CoreCivic by 65.5% during the 4th quarter. State of Tennessee Department of Treasury now owns 48,999 shares of the real estate investment trust's stock worth $1,065,000 after purchasing an additional 19,391 shares during the last quarter. 85.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CXW. Wedbush reissued an "outperform" rating and issued a $38.00 price target on shares of CoreCivic in a research report on Wednesday, June 11th. Wall Street Zen raised shares of CoreCivic from a "hold" rating to a "buy" rating in a research report on Monday, June 9th.

Insider Transactions at CoreCivic

In related news, Director Stacia Hylton sold 4,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 82,969 shares of the company's stock, valued at $1,799,597.61. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Lucibeth Mayberry sold 75,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $21.49, for a total transaction of $1,611,750.00. Following the transaction, the executive vice president now directly owns 211,232 shares of the company's stock, valued at $4,539,375.68. This represents a 26.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,246 shares of company stock worth $4,061,215. Company insiders own 2.30% of the company's stock.

CoreCivic Stock Performance

CXW traded down $0.18 on Friday, reaching $20.47. The company had a trading volume of 1,536,246 shares, compared to its average volume of 1,129,220. CoreCivic, Inc. has a 1 year low of $11.35 and a 1 year high of $24.99. The stock has a market capitalization of $2.23 billion, a PE ratio of 26.94 and a beta of 0.79. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $21.92 and a 200-day moving average price of $20.98.

CoreCivic (NYSE:CXW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.10. CoreCivic had a net margin of 4.33% and a return on equity of 5.75%. The firm had revenue of $488.60 million during the quarter, compared to analysts' expectations of $478.49 million. During the same period in the previous year, the company earned $0.46 earnings per share. CoreCivic's quarterly revenue was down 2.4% compared to the same quarter last year. As a group, research analysts forecast that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

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.