Rubric Capital Management LP Has $38.94 Million Position in CoreCivic, Inc. $CXW

Key Points

• Rubric Capital Management increased its CoreCivic stake by 5% in the first quarter, adding 97,770 shares to own 2.06 million shares valued at approximately $38.94 million, or 2.08% of the company.
• Institutional investors own 85.13% of CoreCivic, with several other firms also increasing or initiating positions.
• Analyst sentiment is positive: CoreCivic holds an average “Buy” rating with a $36.20 price target, while recent targets range from $35 to $41. The stock opened at $31.18 and trades near its 52-week high of $32.69.

Rubric Capital Management LP boosted its holdings in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,059,216 shares of the real estate investment trust's stock after acquiring an additional 97,770 shares during the quarter. Rubric Capital Management LP owned approximately 2.08% of CoreCivic worth $38,940,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CXW. NBC Securities Inc. increased its stake in shares of CoreCivic by 533.9% during the 4th quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 1,228 shares during the last quarter. Leonteq Securities AG bought a new position in shares of CoreCivic during the 4th quarter valued at $57,000. Smartleaf Asset Management LLC lifted its stake in shares of CoreCivic by 33.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 702 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of CoreCivic by 320.7% in the 4th quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust's stock valued at $64,000 after purchasing an additional 2,546 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in CoreCivic in the fourth quarter worth $71,000. 85.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on CXW shares. Northland Securities set a $40.00 target price on shares of CoreCivic in a research report on Friday, June 26th. Weiss Ratings upgraded CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, July 1st. Wall Street Zen upgraded CoreCivic from a "hold" rating to a "buy" rating in a research note on Saturday. UBS Group set a $35.00 price objective on CoreCivic in a report on Tuesday, July 7th. Finally, Benchmark raised their price objective on CoreCivic from $36.00 to $41.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $36.20.

CoreCivic Stock Performance

NYSE:CXW opened at $31.18 on Tuesday. CoreCivic, Inc. has a 1 year low of $15.73 and a 1 year high of $32.69. The firm's fifty day simple moving average is $27.52 and its 200 day simple moving average is $22.24. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $3.08 billion, a PE ratio of 25.35 and a beta of 0.57.

CoreCivic Profile

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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