Sei Investments Co. Invests $2.12 Million in CoreCivic, Inc. $CXW

Key Points

• Sei Investments Co. acquired a new 112,282-share stake in CoreCivic during the first quarter, valued at approximately $2.12 million and representing 0.11% of the company.
• Institutional ownership remains high at 85.13%, with Vanguard increasing its position and several firms, including KCM Capital and Kestrel Investment Management, establishing new stakes.
• Analysts are broadly bullish: CoreCivic has a consensus “Buy” rating and an average price target of $37, compared with shares opening at $32.33.

Sei Investments Co. acquired a new stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 112,282 shares of the real estate investment trust's stock, valued at approximately $2,123,000. Sei Investments Co. owned 0.11% of CoreCivic as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of CoreCivic by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust's stock valued at $242,955,000 after buying an additional 138,846 shares during the period. Lee Danner & Bass Inc. lifted its holdings in shares of CoreCivic by 20.1% in the fourth quarter. Lee Danner & Bass Inc. now owns 582,558 shares of the real estate investment trust's stock worth $11,133,000 after buying an additional 97,413 shares in the last quarter. KCM Capital Inc bought a new position in shares of CoreCivic in the first quarter valued at approximately $10,400,000. Kestrel Investment Management Corp bought a new position in shares of CoreCivic in the fourth quarter valued at approximately $5,601,000. Finally, Y Intercept Hong Kong Ltd grew its stake in CoreCivic by 298.1% during the first quarter. Y Intercept Hong Kong Ltd now owns 87,025 shares of the real estate investment trust's stock valued at $1,646,000 after acquiring an additional 65,167 shares in the last quarter. Hedge funds and other institutional investors own 85.13% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of CoreCivic from a "hold" rating to a "buy" rating in a report on Monday. JonesTrading reissued a "buy" rating and issued a $30.00 price target on shares of CoreCivic in a report on Wednesday, August 5th. UBS Group set a $35.00 price target on shares of CoreCivic in a research report on Tuesday, July 7th. Weiss Ratings raised shares of CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 1st. Finally, Northland Securities set a $40.00 price objective on CoreCivic in a research report on Friday, June 26th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CoreCivic presently has a consensus rating of "Buy" and an average target price of $37.00.

CoreCivic Price Performance

Shares of CoreCivic stock opened at $32.33 on Monday. The firm has a market capitalization of $3.20 billion, a PE ratio of 25.86 and a beta of 0.58. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.86. CoreCivic, Inc. has a 12 month low of $15.73 and a 12 month high of $34.00. The business's 50-day moving average price is $29.22 and its 200-day moving average price is $22.93.

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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