Rhumbline Advisers Trims Position in CoreCivic, Inc. $CXW

Rhumbline Advisers lessened its holdings in shares of CoreCivic, Inc. (NYSE:CXW) by 4.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 309,505 shares of the real estate investment trust’s stock after selling 15,965 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of CoreCivic worth $6,280,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Intech Investment Management LLC lifted its stake in shares of CoreCivic by 12.2% during the 1st quarter. Intech Investment Management LLC now owns 73,281 shares of the real estate investment trust’s stock worth $1,487,000 after purchasing an additional 7,971 shares during the period. SCS Capital Management LLC purchased a new position in shares of CoreCivic during the 1st quarter worth $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of CoreCivic by 2.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,467 shares of the real estate investment trust’s stock worth $4,473,000 after purchasing an additional 4,977 shares during the period. Aristeia Capital L.L.C. purchased a new position in shares of CoreCivic during the 1st quarter worth $489,000. Finally, Caxton Associates LLP purchased a new position in shares of CoreCivic during the 1st quarter worth $494,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

CoreCivic Trading Down 1.5%

NYSE:CXW opened at $21.09 on Friday. The business’s 50-day moving average is $20.58 and its two-hundred day moving average is $20.86. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60. CoreCivic, Inc. has a 12 month low of $12.24 and a 12 month high of $24.99. The firm has a market capitalization of $2.26 billion, a PE ratio of 22.44 and a beta of 0.81.

CoreCivic (NYSE:CXW) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.59 EPS for the quarter, beating 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 analyst estimates of $499.02 million. During the same period last year, the company posted $0.42 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. Research analysts predict that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CXW has been the topic of several research reports. Wedbush reaffirmed an “outperform” rating and issued a $38.00 target price on shares of CoreCivic in a research report on Wednesday, June 11th. Wall Street Zen raised CoreCivic from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Finally, Jones Trading reaffirmed a “buy” rating and issued a $30.00 target price on shares of CoreCivic in a research report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $33.33.

Insider Activity

In other CoreCivic news, Director Thurgood Marshall, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $20.52, for a total value of $123,120.00. Following the transaction, the director directly owned 44,023 shares of the company’s stock, valued at $903,351.96. This trade represents a 11.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Anthony L. Grande sold 22,500 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $21.18, for a total value of $476,550.00. Following the completion of the transaction, the executive vice president directly owned 135,559 shares in the company, valued at $2,871,139.62. This trade represents a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,000 shares of company stock worth $1,042,545 over the last three months. 2.30% of the stock is currently owned by corporate insiders.

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.