Rubric Capital Management LP Has $38.94 Million Stock Position in CoreCivic, Inc. $CXW

Rubric Capital Management LP raised its holdings in CoreCivic, Inc. (NYSE:CXW) by 5.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,059,216 shares of the real estate investment trust’s stock after buying an additional 97,770 shares during the quarter. Rubric Capital Management LP’s holdings in CoreCivic were worth $38,940,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CXW. Empowered Funds LLC bought a new stake in shares of CoreCivic in the first quarter valued at approximately $4,785,000. Quantinno Capital Management LP grew its stake in shares of CoreCivic by 316.4% in the first quarter. Quantinno Capital Management LP now owns 80,070 shares of the real estate investment trust’s stock worth $1,514,000 after acquiring an additional 60,841 shares during the last quarter. Weiss Asset Management LP bought a new position in CoreCivic during the first quarter worth $2,015,000. Entropy Technologies LP bought a new position in CoreCivic during the first quarter worth $342,000. Finally, Arrowstreet Capital Limited Partnership increased its position in CoreCivic by 968.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 148,035 shares of the real estate investment trust’s stock worth $2,799,000 after acquiring an additional 134,174 shares during the period. 85.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on CXW shares. Weiss Ratings raised shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Noble Financial raised their price target on shares of CoreCivic from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of CoreCivic from a “hold” rating to a “buy” rating in a report on Saturday. Northland Securities set a $40.00 price objective on shares of CoreCivic in a research report on Friday, June 26th. Finally, UBS Group set a $35.00 target price on shares of CoreCivic in a research note on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $36.20.

CoreCivic Stock Performance

CXW opened at $31.18 on Tuesday. The stock has a market cap of $3.08 billion, a PE ratio of 25.35 and a beta of 0.57. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.99. CoreCivic, Inc. has a 1 year low of $15.73 and a 1 year high of $32.69. The stock’s 50 day simple moving average is $27.52 and its 200-day simple moving average is $22.24.

About CoreCivic

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.