Sciencast Management LP Purchases Shares of 18,783 CoreCivic, Inc. $CXW

Key Points

• Sciencast Management LP has acquired 18,783 shares of CoreCivic, Inc. valued at approximately $381,000, indicating growing institutional interest in the real estate investment trust.
• CoreCivic reported a 9.8% increase in revenue year-over-year, with an EPS of $0.59 for the last quarter, surpassing analysts' expectations.
• Several research firms have given buy ratings for CoreCivic, most notably with Wedbush setting a price target of $38.00 on the stock.

Sciencast Management LP purchased a new stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,783 shares of the real estate investment trust's stock, valued at approximately $381,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in CoreCivic by 2.2% in 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 period. Allianz Asset Management GmbH lifted its stake in CoreCivic by 7.3% in the first quarter. Allianz Asset Management GmbH now owns 1,622,800 shares of the real estate investment trust's stock valued at $32,927,000 after buying an additional 109,769 shares during the period. Millennium Management LLC lifted its stake in CoreCivic by 88.4% in the fourth quarter. Millennium Management LLC now owns 1,261,944 shares of the real estate investment trust's stock valued at $27,435,000 after buying an additional 592,070 shares during the period. Northern Trust Corp lifted its stake in CoreCivic by 3.1% in the fourth quarter. Northern Trust Corp now owns 1,251,464 shares of the real estate investment trust's stock valued at $27,207,000 after buying an additional 37,639 shares during the period. Finally, Wellington Management Group LLP lifted its stake in CoreCivic by 35.4% in the first quarter. Wellington Management Group LLP now owns 1,073,573 shares of the real estate investment trust's stock valued at $21,783,000 after buying an additional 280,495 shares during the period. Institutional investors and hedge funds own 85.13% of the company's stock.

CoreCivic Stock Down 1.5%

Shares of NYSE:CXW traded down $0.33 during mid-day trading on Friday, reaching $21.09. 1,089,330 shares of the stock were exchanged, compared to its average volume of 1,102,752. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.68. The company has a market cap of $2.26 billion, a P/E ratio of 22.44 and a beta of 0.81. CoreCivic, Inc. has a one year low of $12.24 and a one year high of $24.99. The stock's 50 day simple moving average is $20.59 and its 200-day simple moving average is $20.84.

CoreCivic (NYSE:CXW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.16. The business had revenue of $538.17 million during the quarter, compared to the consensus estimate of $499.02 million. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.CoreCivic's quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. As a group, equities research analysts predict that CoreCivic, Inc. will post 1.5 EPS for the current year.

Wall Street Analyst Weigh In

CXW has been the subject of several recent analyst reports. Wedbush restated an "outperform" rating and issued a $38.00 price target on shares of CoreCivic in a report on Wednesday, June 11th. Jones Trading restated a "buy" rating and issued a $30.00 price target on shares of CoreCivic in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded CoreCivic from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $33.33.

Insider Transactions at CoreCivic

In other CoreCivic news, EVP Anthony L. Grande sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $19.71, for a total value of $246,375.00. Following the completion of the transaction, the executive vice president directly owned 158,059 shares in the company, valued at $3,115,342.89. This trade represents a 7.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thurgood Marshall, Jr. sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $20.52, for a total value of $123,120.00. Following the completion of the transaction, the director owned 44,023 shares of the company's stock, valued at approximately $903,351.96. This represents a 11.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,500 shares of company stock valued at $565,995. 2.30% of the stock is owned by corporate insiders.

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.