Weiss Asset Management LP Purchases Shares of 106,560 CoreCivic, Inc. $CXW

Key Points

• Weiss Asset Management bought 106,560 CoreCivic shares worth approximately $2.0 million, establishing a stake of about 0.11%. Institutional investors collectively own 85.13% of the company.
• CoreCivic shares opened at $31.28, near their 12-month high of $32.69, with a market capitalization of approximately $3.09 billion. The stock’s 50-day and 200-day moving averages were $27.32 and $22.16, respectively.
• Analysts remain bullish, with a consensus “Buy” rating and an average price target of $36.20; recent targets range from $35 to $41.

Weiss Asset Management LP purchased a new stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 106,560 shares of the real estate investment trust's stock, valued at approximately $2,015,000. Weiss Asset Management LP owned about 0.11% of CoreCivic as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of CXW. Vanguard Group Inc. increased its holdings in CoreCivic by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust's stock valued at $242,955,000 after purchasing an additional 138,846 shares during the period. River Road Asset Management LLC lifted its holdings in CoreCivic by 3.3% during the 4th quarter. River Road Asset Management LLC now owns 8,978,240 shares of the real estate investment trust's stock worth $171,574,000 after buying an additional 287,108 shares during the period. Lee Danner & Bass Inc. lifted its holdings in CoreCivic by 273.1% during the 1st quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust's stock worth $41,101,000 after buying an additional 1,590,940 shares during the period. Rubric Capital Management LP grew its position in shares of CoreCivic by 140.6% in the 3rd quarter. Rubric Capital Management LP now owns 1,961,446 shares of the real estate investment trust's stock valued at $39,915,000 after buying an additional 1,146,166 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its position in shares of CoreCivic by 361.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust's stock valued at $26,562,000 after buying an additional 987,375 shares during the last quarter. Institutional investors and hedge funds own 85.13% of the company's stock.

CoreCivic Stock Performance

Shares of CXW opened at $31.28 on Monday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $3.09 billion, a P/E ratio of 25.43 and a beta of 0.57. The firm's fifty day simple moving average is $27.32 and its two-hundred day simple moving average is $22.16. CoreCivic, Inc. has a 12 month low of $15.73 and a 12 month high of $32.69.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CXW. UBS Group set a $35.00 price objective on CoreCivic in a research report on Tuesday, July 7th. Noble Financial upped their target price on CoreCivic from $28.00 to $35.00 and gave the company an "outperform" rating in a report on Tuesday, July 7th. Northland Securities set a $40.00 target price on CoreCivic in a report on Friday, June 26th. Benchmark increased their target price on shares of CoreCivic from $36.00 to $41.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen upgraded shares of CoreCivic from a "hold" rating to a "buy" rating in a report on Saturday. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, CoreCivic currently has a consensus rating of "Buy" and an average price target of $36.20.

CoreCivic Profile

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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