Man Group plc Invests $2.46 Million in CoreCivic, Inc. (NYSE:CXW)

Man Group plc purchased a new position in shares of CoreCivic, Inc. (NYSE:CXW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 112,939 shares of the real estate investment trust’s stock, valued at approximately $2,455,000. Man Group plc owned about 0.10% of CoreCivic as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC raised its stake in shares of CoreCivic by 312.4% during the 3rd quarter. Barclays PLC now owns 184,332 shares of the real estate investment trust’s stock worth $2,331,000 after buying an additional 139,631 shares during the last quarter. Allianz Asset Management GmbH increased its position in CoreCivic by 11.4% during the 4th quarter. Allianz Asset Management GmbH now owns 1,513,031 shares of the real estate investment trust’s stock worth $32,893,000 after purchasing an additional 154,426 shares in the last quarter. Empowered Funds LLC purchased a new stake in CoreCivic during the 4th quarter worth about $1,477,000. Nebula Research & Development LLC purchased a new stake in CoreCivic during the 4th quarter worth about $361,000. Finally, Teacher Retirement System of Texas purchased a new stake in CoreCivic during the 4th quarter worth about $4,582,000. Institutional investors and hedge funds own 85.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CXW. Wedbush reiterated an “outperform” rating and set a $30.00 price objective on shares of CoreCivic in a research report on Tuesday, February 11th. Noble Financial upgraded CoreCivic from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 12th. Finally, Wall Street Zen upgraded CoreCivic from a “hold” rating to a “buy” rating in a research report on Friday, May 16th.

Insider Activity

In related news, COO Patrick D. Swindle sold 23,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $22.39, for a total transaction of $514,970.00. Following the completion of the sale, the chief operating officer now owns 241,630 shares of the company’s stock, valued at approximately $5,410,095.70. This represents a 8.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony L. Grande sold 10,000 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $22.22, for a total transaction of $222,200.00. Following the sale, the executive vice president now directly owns 180,559 shares of the company’s stock, valued at approximately $4,012,020.98. This trade represents a 5.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,000 shares of company stock valued at $2,348,920 in the last 90 days. 2.30% of the stock is currently owned by insiders.

CoreCivic Trading Up 0.3%

NYSE CXW opened at $22.41 on Friday. CoreCivic, Inc. has a 12 month low of $10.74 and a 12 month high of $24.99. The company has a 50-day moving average of $21.37 and a 200-day moving average of $20.96. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.57 and a quick ratio of 1.51. The company has a market cap of $2.45 billion, a P/E ratio of 36.74 and a beta of 0.79.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.45 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $478.49 million. During the same quarter in the prior year, the company posted $0.46 EPS. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, equities analysts predict that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

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.