Wellington Management Group LLP Raises Stock 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 boosted its stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 35.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 about 0.98% of CoreCivic worth $21,783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Woodmont Investment Counsel LLC purchased a new position in CoreCivic during the first quarter valued at $514,000. Wedge Capital Management L L P NC lifted its position in CoreCivic by 29.3% during the first quarter. Wedge Capital Management L L P NC now owns 79,527 shares of the real estate investment trust's stock valued at $1,614,000 after purchasing an additional 18,036 shares in the last quarter. Vanguard Group Inc. lifted its position in CoreCivic by 2.2% during the first quarter. Vanguard Group Inc. now owns 12,215,492 shares of the real estate investment trust's stock valued at $247,852,000 after purchasing an additional 267,198 shares in the last quarter. Principal Financial Group Inc. lifted its position in CoreCivic by 2.3% during the first quarter. Principal Financial Group Inc. now owns 547,061 shares of the real estate investment trust's stock valued at $11,100,000 after purchasing an additional 12,374 shares in the last quarter. Finally, Nebula Research & Development LLC purchased a new position in CoreCivic during the fourth quarter valued at $361,000. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

CoreCivic Trading Up 0.4%

NYSE CXW traded up $0.08 during trading hours on Friday, hitting $20.26. 1,119,646 shares of the company were exchanged, compared to its average volume of 1,133,378. The stock has a 50-day moving average price of $20.69 and a 200 day moving average price of $20.78. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.68. CoreCivic, Inc. has a 52 week low of $12.13 and a 52 week high of $24.99. The stock has a market cap of $2.17 billion, a PE ratio of 21.56 and a beta of 0.81.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CXW shares. Jones Trading reiterated a "buy" rating and set a $30.00 target price on shares of CoreCivic in a research report on Thursday, August 7th. Wedbush reiterated an "outperform" rating and set a $38.00 target price on shares of CoreCivic in a research report on Wednesday, June 11th. 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 MarketBeat.com, CoreCivic has a consensus rating of "Buy" and a consensus price target of $33.33.

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.