CoreCivic, Inc. $CXW Shares Sold by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC has reduced its stake in CoreCivic, Inc. by 20.4%, now holding 254,851 shares valued at approximately $5.17 million.
• Several institutional investors have also adjusted their positions, with ownership by hedge funds and institutional investors accounting for 85.13% of the stock.
• CoreCivic recently reported an earnings per share (EPS) of $0.59, exceeding analyst expectations of $0.43, reflecting a 9.8% revenue increase compared to the previous year.

Voya Investment Management LLC lowered its position in CoreCivic, Inc. (NYSE:CXW - Free Report) by 20.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 254,851 shares of the real estate investment trust's stock after selling 65,422 shares during the quarter. Voya Investment Management LLC owned 0.23% of CoreCivic worth $5,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the business. Copia Wealth Management acquired a new stake in CoreCivic in the fourth quarter valued at approximately $82,000. GAMMA Investing LLC boosted its holdings in shares of CoreCivic by 10.0% in the first quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust's stock worth $105,000 after acquiring an additional 470 shares during the period. Harbour Investments Inc. lifted its position in CoreCivic by 215.6% during the first quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust's stock valued at $108,000 after purchasing an additional 3,646 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its stake in CoreCivic by 29.6% during the first quarter. Harvest Fund Management Co. Ltd now owns 9,250 shares of the real estate investment trust's stock worth $187,000 after purchasing an additional 2,113 shares during the last quarter. Finally, SCS Capital Management LLC bought a new position in shares of CoreCivic during the 1st quarter valued at $203,000. 85.13% of the stock is owned by institutional investors.

CoreCivic Stock Performance

CoreCivic stock traded down $0.04 during trading on Friday, reaching $20.89. The company had a trading volume of 2,316,440 shares, compared to its average volume of 872,278. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 22.22 and a beta of 0.81. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.68. The firm's 50-day simple moving average is $20.44 and its 200 day simple moving average is $20.95. CoreCivic, Inc. has a 52 week low of $12.24 and a 52 week high of $24.99.

CoreCivic (NYSE:CXW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.16. The firm had revenue of $538.17 million during the quarter, compared to analysts' expectations of $499.02 million. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 earnings per share. Sell-side analysts forecast that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CXW. Wedbush reiterated an "outperform" rating and set a $38.00 target price on shares of CoreCivic in a report on Wednesday, June 11th. Jones Trading reaffirmed a "buy" rating and set a $30.00 price target on shares of CoreCivic in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded CoreCivic from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $33.33.

Insider Activity

In related news, Director Thurgood Marshall, Jr. sold 6,000 shares of CoreCivic stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $20.52, for a total transaction of $123,120.00. Following the transaction, the director directly owned 44,023 shares of the company's stock, valued at $903,351.96. This trade represents a 11.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Anthony L. Grande sold 22,500 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $21.18, for a total value of $476,550.00. Following the sale, the executive vice president directly owned 135,559 shares in the company, valued at approximately $2,871,139.62. The trade was a 14.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,000 shares of company stock worth $1,042,545 over the last quarter. 2.30% of the stock is currently owned by insiders.

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.