Y Intercept Hong Kong Ltd Purchases 96,750 Shares of CoreCivic, Inc. $CXW

Y Intercept Hong Kong Ltd raised its holdings in shares of CoreCivic, Inc. (NYSE:CXW) by 126.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,354 shares of the real estate investment trust’s stock after buying an additional 96,750 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.16% of CoreCivic worth $3,528,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. bought a new stake in CoreCivic during the second quarter valued at approximately $25,000. Covestor Ltd increased its stake in CoreCivic by 31,516.7% in the third quarter. Covestor Ltd now owns 1,897 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 1,891 shares during the last quarter. CWM LLC lifted its stake in CoreCivic by 80.1% during the second quarter. CWM LLC now owns 2,186 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 972 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of CoreCivic by 33.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 702 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of CoreCivic by 9.9% during the 2nd quarter. GAMMA Investing LLC now owns 5,667 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 511 shares in the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

Analyst Upgrades and Downgrades

CXW has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of CoreCivic in a research report on Wednesday, October 8th. Jones Trading reaffirmed a “buy” rating and set a $30.00 price objective on shares of CoreCivic in a research note on Friday, November 7th. Finally, Wall Street Zen cut CoreCivic from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.00.

CoreCivic Price Performance

Shares of NYSE CXW opened at $18.75 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. CoreCivic, Inc. has a 1 year low of $15.95 and a 1 year high of $23.54. The company’s 50-day moving average is $18.91 and its 200 day moving average is $19.42. The stock has a market capitalization of $1.96 billion, a P/E ratio of 18.94 and a beta of 0.69.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, November 5th. The real estate investment trust reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. The firm had revenue of $580.44 million for the quarter, compared to the consensus estimate of $544.38 million. CoreCivic had a return on equity of 7.38% and a net margin of 5.24%.The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 EPS. CoreCivic has set its FY 2025 guidance at 1.940-2.000 EPS. On average, sell-side analysts expect that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

CoreCivic declared that its Board of Directors has initiated a share buyback plan on Monday, November 10th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 10.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

CoreCivic Company Profile

CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.