CoreCivic, Inc. (NYSE:CXW) Shares Bought by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its stake in CoreCivic, Inc. by 433.2%, holding 109,996 shares worth $2.23 million as of the last quarter.
• CoreCivic's quarterly earnings beat projections with an EPS of $0.45, surpassing the consensus estimate of $0.35, despite a 2.4% year-over-year revenue decline.
• Insider trading activity saw CEO Damon T. Hininger selling 72,246 shares for approximately $1.63 million, resulting in a 7.59% decrease in his ownership stake.

Victory Capital Management Inc. raised its position in CoreCivic, Inc. (NYSE:CXW - Free Report) by 433.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,996 shares of the real estate investment trust's stock after acquiring an additional 89,365 shares during the quarter. Victory Capital Management Inc. owned approximately 0.10% of CoreCivic worth $2,232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CXW. Cooper Creek Partners Management LLC grew its holdings in CoreCivic by 9.9% in the fourth quarter. Cooper Creek Partners Management LLC now owns 6,127,227 shares of the real estate investment trust's stock worth $133,206,000 after purchasing an additional 553,336 shares during the period. Millennium Management LLC grew its holdings 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 worth $27,435,000 after purchasing an additional 592,070 shares during the period. Northern Trust Corp grew its holdings 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 worth $27,207,000 after purchasing an additional 37,639 shares during the period. National Bank of Canada FI grew its holdings in CoreCivic by 19.5% in the fourth quarter. National Bank of Canada FI now owns 910,000 shares of the real estate investment trust's stock worth $19,783,000 after purchasing an additional 148,508 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of CoreCivic by 2.3% in the first quarter. Principal Financial Group Inc. now owns 547,061 shares of the real estate investment trust's stock worth $11,100,000 after buying an additional 12,374 shares in the last quarter. Hedge funds and other institutional investors own 85.13% of the company's stock.

Insiders Place Their Bets

In related news, EVP Anthony L. Grande sold 10,000 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $22.22, for a total transaction of $222,200.00. Following the sale, the executive vice president directly owned 180,559 shares of the company's stock, valued at approximately $4,012,020.98. This represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Patrick D. Swindle sold 23,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $22.39, for a total transaction of $514,970.00. Following the sale, the chief operating officer directly owned 241,630 shares in the company, valued at $5,410,095.70. This trade represents a 8.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 184,246 shares of company stock worth $4,061,215. Company insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

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

CoreCivic Price Performance

CXW traded down $0.09 during trading on Friday, hitting $19.95. 175,083 shares of the company traded hands, compared to its average volume of 1,108,953. CoreCivic, Inc. has a 1 year low of $11.81 and a 1 year high of $24.99. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.66. The stock's 50-day simple moving average is $21.18 and its two-hundred day simple moving average is $20.82. The company has a market cap of $2.18 billion, a PE ratio of 26.24 and a beta of 0.77.

CoreCivic (NYSE:CXW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.10. The company had revenue of $488.60 million during the quarter, compared to analyst estimates of $478.49 million. CoreCivic had a net margin of 4.33% and a return on equity of 5.75%. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.46 EPS. As a group, sell-side analysts anticipate that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

CoreCivic 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.