CoreCivic, Inc. (NYSE:CXW) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 29.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,527 shares of the real estate investment trust's stock after acquiring an additional 18,036 shares during the period. Wedge Capital Management L L P NC owned about 0.07% of CoreCivic worth $1,614,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CXW. GAMMA Investing LLC increased its stake in CoreCivic by 2,132.5% during the first quarter. GAMMA Investing LLC now owns 104,615 shares of the real estate investment trust's stock valued at $2,123,000 after purchasing an additional 99,929 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of CoreCivic by 11.5% in the 1st quarter. Versant Capital Management Inc now owns 94,018 shares of the real estate investment trust's stock valued at $1,908,000 after buying an additional 9,666 shares during the period. Copia Wealth Management acquired a new position in shares of CoreCivic in the 4th quarter valued at about $82,000. PharVision Advisers LLC bought a new stake in shares of CoreCivic during the 4th quarter valued at about $879,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in CoreCivic by 11.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 215,490 shares of the real estate investment trust's stock worth $4,685,000 after acquiring an additional 22,031 shares during the last quarter. 85.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on CXW. Noble Financial raised CoreCivic from a "market perform" rating to an "outperform" rating in a report on Wednesday, February 12th. Wall Street Zen upgraded CoreCivic from a "hold" rating to a "buy" rating in a research note on Monday. Finally, Wedbush reiterated an "outperform" rating and issued a $38.00 target price on shares of CoreCivic in a research note on Wednesday.

CoreCivic Stock Performance

NYSE CXW traded down $0.02 on Thursday, hitting $21.42. The stock had a trading volume of 188,830 shares, compared to its average volume of 1,134,083. The company's 50-day moving average is $21.84 and its two-hundred day moving average is $21.05. CoreCivic, Inc. has a one year low of $11.23 and a one year high of $24.99. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 35.11 and a beta of 0.79. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 0.65.

CoreCivic (NYSE:CXW - Get Free Report) last posted its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.45 EPS for the quarter, beating the consensus estimate of $0.35 by $0.10. The firm had revenue of $488.60 million for the quarter, compared to analysts' expectations of $478.49 million. CoreCivic had a return on equity of 5.97% and a net margin of 3.51%. The firm's revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.46 EPS. On average, analysts expect that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Damon T. Hininger sold 72,246 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $22.50, for a total transaction of $1,625,535.00. Following the completion of the transaction, the chief executive officer now owns 879,324 shares of the company's stock, valued at $19,784,790. This trade represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stacia Hylton sold 4,000 shares of CoreCivic stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $21.69, for a total value of $86,760.00. Following the transaction, the director now directly owns 82,969 shares in the company, valued at approximately $1,799,597.61. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,246 shares of company stock worth $4,061,215. 2.30% of the stock is owned by corporate insiders.

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.