SG Americas Securities LLC Increases Holdings in CoreCivic, Inc. $CXW

Key Points

• SG Americas Securities LLC raised its stake by 141%, adding 323,804 shares to hold 553,388 CXW shares (about 0.53% of the company) valued at roughly $10.58 million at quarter-end.
• Analyst sentiment has turned positive with multiple upgrades—three Buy and one Hold—resulting in a consensus rating of “Moderate Buy” and an average price target of $32.00.
• CoreCivic posted revenue up 26% year-over-year but missed EPS estimates ($0.27 vs. $0.43); the REIT has a market cap of about $1.9 billion, a P/E of 18.01 and roughly 85% institutional ownership.

SG Americas Securities LLC raised its holdings in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 141.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 553,388 shares of the real estate investment trust's stock after purchasing an additional 323,804 shares during the period. SG Americas Securities LLC owned 0.53% of CoreCivic worth $10,575,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CXW. Advisors Asset Management Inc. purchased a new position in shares of CoreCivic during the second quarter valued at approximately $25,000. Covestor Ltd lifted its stake in CoreCivic by 31,516.7% in the third quarter. Covestor Ltd now owns 1,897 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 1,891 shares during the period. Smartleaf Asset Management LLC lifted its stake in CoreCivic by 33.0% in the second quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust's stock worth $59,000 after acquiring an additional 702 shares during the period. CWM LLC boosted its holdings in CoreCivic by 133.5% in the third quarter. CWM LLC now owns 5,105 shares of the real estate investment trust's stock valued at $104,000 after acquiring an additional 2,919 shares in the last quarter. Finally, LSV Asset Management bought a new stake in CoreCivic in the third quarter valued at $151,000. Hedge funds and other institutional investors own 85.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JonesTrading restated a "buy" rating and issued a $30.00 price objective on shares of CoreCivic in a report 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 target price on the stock. Finally, Wall Street Zen upgraded shares of CoreCivic from a "hold" rating to a "buy" rating in a research report on Sunday, March 8th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $32.00.

CoreCivic Trading Up 0.1%

NYSE CXW opened at $19.46 on Monday. The firm has a market capitalization of $1.90 billion, a PE ratio of 18.01 and a beta of 0.72. The stock's 50 day moving average is $18.69 and its 200 day moving average is $18.84. CoreCivic, Inc. has a twelve month low of $15.73 and a twelve month high of $23.54. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.86.

CoreCivic (NYSE:CXW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.16). The firm had revenue of $603.95 million during the quarter, compared to the consensus estimate of $585.12 million. CoreCivic had a return on equity of 8.17% and a net margin of 5.27%.CoreCivic's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 EPS. Research analysts forecast that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

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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