Versant Capital Management Inc Has $145,000 Stake in CoreCivic, Inc. $CXW

Key Points

• Versant Capital Management sharply reduced its CoreCivic stake by 94.5% in the second quarter, selling 81,307 shares and retaining 4,773 shares valued at approximately $145,000.
• Institutional investors and hedge funds own 85.13% of CoreCivic, with several firms—including Smartleaf Asset Management and Lazard Asset Management—adding to their positions.
• Analysts remain broadly bullish: CoreCivic has a consensus “Buy” rating and an average price target of $37, compared with shares opening at $32.33.

Versant Capital Management Inc reduced its holdings in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 94.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,773 shares of the real estate investment trust's stock after selling 81,307 shares during the quarter. Versant Capital Management Inc's holdings in CoreCivic were worth $145,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CXW. PNC Financial Services Group Inc. lifted its holdings in CoreCivic by 1.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 31,880 shares of the real estate investment trust's stock valued at $603,000 after purchasing an additional 510 shares during the last quarter. State of Wyoming increased its holdings in shares of CoreCivic by 3.1% in the first quarter. State of Wyoming now owns 22,172 shares of the real estate investment trust's stock valued at $419,000 after purchasing an additional 659 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of 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 valued at $59,000 after purchasing an additional 702 shares during the last quarter. Bessemer Group Inc. raised its position in shares of CoreCivic by 0.4% in the first quarter. Bessemer Group Inc. now owns 166,475 shares of the real estate investment trust's stock valued at $3,148,000 after purchasing an additional 742 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in shares of CoreCivic by 10.4% during the 2nd quarter. Lazard Asset Management LLC now owns 10,595 shares of the real estate investment trust's stock worth $223,000 after buying an additional 1,002 shares during the last quarter. 85.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Northland Securities set a $40.00 target price on shares of CoreCivic in a report on Friday, June 26th. Benchmark raised their price objective on shares of CoreCivic from $41.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday. Weiss Ratings upgraded CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 1st. Noble Financial upped their target price on CoreCivic from $28.00 to $35.00 and gave the company an "outperform" rating in a research report on Tuesday, July 7th. Finally, UBS Group set a $35.00 target price on CoreCivic in a research note on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $37.00.

CoreCivic Stock Up 0.3%

Shares of CXW opened at $32.33 on Friday. The company has a current ratio of 1.32, a quick ratio of 2.44 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 firm's 50 day moving average is $29.22 and its 200-day moving average is $22.91. The stock has a market capitalization of $3.20 billion, a PE ratio of 25.86 and a beta of 0.58.

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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