CoreCivic, Inc. $CXW Position Raised by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its position in shares of CoreCivic, Inc. (NYSE:CXW) by 130.7% in the second quarter, HoldingsChannel.com reports. The firm owned 76,604 shares of the real estate investment trust’s stock after buying an additional 43,398 shares during the period. Y Intercept Hong Kong Ltd’s holdings in CoreCivic were worth $1,614,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. CWM LLC lifted its holdings in shares of CoreCivic by 80.1% in the second quarter. CWM LLC now owns 2,186 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 972 shares during the period. GAMMA Investing LLC raised its position in CoreCivic by 10.0% in the first quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust’s stock worth $105,000 after acquiring an additional 470 shares in the last quarter. Harbour Investments Inc. lifted its holdings in CoreCivic by 215.6% in the 1st quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust’s stock valued at $108,000 after acquiring an additional 3,646 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of CoreCivic by 29.6% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 9,250 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 2,113 shares in the last quarter. Finally, SCS Capital Management LLC bought a new position in shares of CoreCivic during the 1st quarter valued at about $203,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CXW has been the subject of several recent research reports. Jones Trading reissued a “buy” rating and set a $30.00 target price on shares of CoreCivic in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CoreCivic in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded CoreCivic from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, CoreCivic presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Insiders Place Their Bets

In other news, EVP Anthony L. Grande sold 22,500 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $21.18, for a total value of $476,550.00. Following the completion of the sale, the executive vice president owned 135,559 shares of the company’s stock, valued at $2,871,139.62. This trade represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Thurgood Marshall, Jr. sold 6,000 shares of CoreCivic stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $20.52, for a total value of $123,120.00. Following the transaction, the director owned 44,023 shares in the company, valued at $903,351.96. This represents a 11.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 51,000 shares of company stock valued at $1,042,545 in the last 90 days. Corporate insiders own 2.30% of the company’s stock.

CoreCivic Stock Performance

CoreCivic stock opened at $18.60 on Friday. CoreCivic, Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $24.99. The firm’s 50 day simple moving average is $19.70 and its 200-day simple moving average is $20.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market cap of $1.99 billion, a P/E ratio of 19.78 and a beta of 0.75.

CoreCivic (NYSE:CXW) last issued its quarterly earnings results 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 net margin of 5.21% and a return on equity of 7.12%. The business had revenue of $538.17 million during the quarter, compared to the consensus estimate of $499.02 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities research 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.