Millennium Management LLC Boosts Holdings in CoreCivic, Inc. (NYSE:CXW)

Millennium Management LLC grew its stake in shares of CoreCivic, Inc. (NYSE:CXW) by 88.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,261,944 shares of the real estate investment trust’s stock after acquiring an additional 592,070 shares during the quarter. Millennium Management LLC’s holdings in CoreCivic were worth $27,435,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CXW. Meeder Asset Management Inc. purchased a new stake in CoreCivic in the fourth quarter valued at approximately $43,000. Smartleaf Asset Management LLC raised its stake in CoreCivic by 318.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 1,859 shares during the period. Russell Investments Group Ltd. raised its stake in CoreCivic by 86,300.0% during the fourth quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 4,315 shares during the period. KBC Group NV raised its stake in CoreCivic by 57.3% during the fourth quarter. KBC Group NV now owns 5,477 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 1,995 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in CoreCivic during the fourth quarter worth approximately $155,000. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CoreCivic

In other news, EVP Lucibeth Mayberry sold 75,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $21.49, for a total value of $1,611,750.00. Following the completion of the sale, the executive vice president now owns 211,232 shares of the company’s stock, valued at $4,539,375.68. This represents a 26.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CXW shares. Wedbush reaffirmed an “outperform” rating and set a $30.00 price target on shares of CoreCivic in a research note on Tuesday, February 11th. StockNews.com raised shares of CoreCivic from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Noble Financial raised shares of CoreCivic from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 12th.

CoreCivic Price Performance

CoreCivic stock opened at $22.67 on Tuesday. CoreCivic, Inc. has a 52-week low of $10.74 and a 52-week high of $24.99. The firm has a fifty day moving average of $21.23 and a 200-day moving average of $20.87. The firm has a market capitalization of $2.47 billion, a P/E ratio of 37.16 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) last released its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.10. CoreCivic had a net margin of 3.51% and a return on equity of 5.97%. The company had revenue of $488.60 million during the quarter, compared to analyst estimates of $478.49 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, analysts predict that CoreCivic, Inc. will post 1.5 EPS for the current year.

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.