Wellington Management Group LLP Has $21.78 Million Holdings in CoreCivic, Inc. $CXW

Key Points

• Wellington Management Group LLP increased its holdings in CoreCivic, Inc. by 35.4% during Q1, owning over 1 million shares valued at approximately $21.78 million.
• CoreCivic reported quarterly earnings of $0.59 EPS, exceeding expectations, along with a revenue increase of 9.8% year-over-year, totaling $538.17 million.
• Wall Street analysts have a consensus rating of "Buy" for CoreCivic, with target prices ranging from $30.00 to $38.00.

Wellington Management Group LLP lifted its holdings in CoreCivic, Inc. (NYSE:CXW - Free Report) by 35.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,073,573 shares of the real estate investment trust's stock after purchasing an additional 280,495 shares during the period. Wellington Management Group LLP owned 0.98% of CoreCivic worth $21,783,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Woodmont Investment Counsel LLC bought a new position in CoreCivic in the 1st quarter worth $514,000. Wedge Capital Management L L P NC raised its holdings in CoreCivic by 29.3% in the 1st quarter. Wedge Capital Management L L P NC now owns 79,527 shares of the real estate investment trust's stock worth $1,614,000 after acquiring an additional 18,036 shares during the period. Principal Financial Group Inc. raised its holdings in CoreCivic by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 547,061 shares of the real estate investment trust's stock worth $11,100,000 after acquiring an additional 12,374 shares during the period. Vanguard Group Inc. raised its holdings in CoreCivic by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 12,215,492 shares of the real estate investment trust's stock worth $247,852,000 after acquiring an additional 267,198 shares during the period. Finally, Nebula Research & Development LLC bought a new position in CoreCivic in the 4th quarter worth $361,000. Institutional investors own 85.13% of the company's stock.

CoreCivic Stock Performance

NYSE:CXW opened at $20.4360 on Tuesday. The firm's 50-day moving average is $20.70 and its 200-day moving average is $20.74. CoreCivic, Inc. has a 52-week low of $12.13 and a 52-week high of $24.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 21.74 and a beta of 0.80.

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

Insider Activity

In other news, Director Stacia Hylton sold 4,000 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $21.69, for a total transaction of $86,760.00. Following the transaction, the director owned 82,969 shares in the company, valued at approximately $1,799,597.61. The trade was a 4.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Jones Trading reiterated a "buy" rating and issued a $30.00 target price on shares of CoreCivic in a report on Thursday, August 7th. Wall Street Zen upgraded shares of CoreCivic from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Wedbush reiterated an "outperform" rating and issued a $38.00 target price on shares of CoreCivic in a report on Wednesday, June 11th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, CoreCivic currently has an average rating of "Buy" and a consensus target price of $33.33.

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.

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