Tandem Financial LLC Purchases 33,686 Shares of CoreCivic, Inc. (NYSE:CXW)

Tandem Financial LLC increased its stake in CoreCivic, Inc. (NYSE:CXW - Free Report) by 127.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,051 shares of the real estate investment trust's stock after buying an additional 33,686 shares during the period. CoreCivic comprises about 1.3% of Tandem Financial LLC's investment portfolio, making the stock its 17th largest position. Tandem Financial LLC owned approximately 0.05% of CoreCivic worth $1,218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. LPL Financial LLC boosted its holdings in shares of CoreCivic by 67.2% during the fourth quarter. LPL Financial LLC now owns 69,838 shares of the real estate investment trust's stock valued at $1,518,000 after acquiring an additional 28,074 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of CoreCivic during the fourth quarter valued at $43,000. Franklin Resources Inc. boosted its holdings in shares of CoreCivic by 52.7% during the fourth quarter. Franklin Resources Inc. now owns 51,038 shares of the real estate investment trust's stock valued at $1,110,000 after acquiring an additional 17,608 shares during the period. National Bank of Canada FI boosted its holdings in shares of CoreCivic by 19.5% during the fourth quarter. National Bank of Canada FI now owns 910,000 shares of the real estate investment trust's stock valued at $19,783,000 after acquiring an additional 148,508 shares during the period. Finally, Diametric Capital LP acquired a new stake in CoreCivic in the fourth quarter worth about $314,000. Institutional investors own 85.13% of the company's stock.

CoreCivic Trading Down 2.0%

NYSE CXW traded down $0.41 on Friday, hitting $19.63. 705,253 shares of the company were exchanged, compared to its average volume of 1,112,695. The firm has a market capitalization of $2.14 billion, a P/E ratio of 25.83 and a beta of 0.77. The company's 50 day moving average price is $21.18 and its 200-day moving average price is $20.82. CoreCivic, Inc. has a twelve month low of $11.81 and a twelve month high of $24.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.55 and a quick ratio of 1.55.

CoreCivic (NYSE:CXW - Get Free Report) last posted its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share (EPS) 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 business had revenue of $488.60 million for the quarter, compared to analyst estimates of $478.49 million. During the same period last year, the business posted $0.46 EPS. CoreCivic's revenue was down 2.4% compared to the same quarter last year. Analysts predict that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Anthony L. Grande sold 10,000 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $22.22, for a total transaction of $222,200.00. Following the transaction, the executive vice president directly owned 180,559 shares in the company, valued at $4,012,020.98. The trade was a 5.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lucibeth Mayberry sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $21.49, for a total value of $1,611,750.00. Following the transaction, the executive vice president directly owned 211,232 shares in the company, valued at $4,539,375.68. The trade was a 26.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,246 shares of company stock valued at $4,061,215 in the last ninety days. Company insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CXW. Wall Street Zen downgraded shares of CoreCivic from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Jones Trading reaffirmed a "buy" rating and issued a $30.00 price objective on shares of CoreCivic in a report on Friday, July 18th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $38.00 price objective on shares of CoreCivic in a report on Wednesday, June 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.33.

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.