Amalgamated Bank Acquires 545 Shares of Corrections Corp. of America (NYSE:CXW)
Amalgamated Bank boosted its stake in Corrections Corp. of America (NYSE:CXW) by 3.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,527 shares of the real estate investment trust’s stock after buying an additional 545 shares during the period. Amalgamated Bank’s holdings in Corrections Corp. of America were worth $582,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Comerica Bank boosted its stake in shares of Corrections Corp. of America by 6.9% in the fourth quarter. Comerica Bank now owns 88,632 shares of the real estate investment trust’s stock valued at $2,413,000 after buying an additional 5,716 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Corrections Corp. of America during the fourth quarter valued at about $251,000. FMR LLC raised its position in shares of Corrections Corp. of America by 332.7% in the fourth quarter. FMR LLC now owns 3,413,693 shares of the real estate investment trust’s stock valued at $83,499,000 after buying an additional 2,624,693 shares in the last quarter. Credit Agricole S A increased its position in Corrections Corp. of America by 86.5% in the fourth quarter. Credit Agricole S A now owns 12,059 shares of the real estate investment trust’s stock worth $295,000 after buying an additional 5,592 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in Corrections Corp. of America during the fourth quarter worth $1,301,000. 87.49% of the stock is owned by hedge funds and other institutional investors.
Corrections Corp. of America (NYSE:CXW) traded up 2.09% during trading on Friday, reaching $28.38. The company’s stock had a trading volume of 623,717 shares. Corrections Corp. of America has a 52-week low of $12.99 and a 52-week high of $35.33. The company has a market cap of $3.35 billion, a PE ratio of 14.94 and a beta of 0.93. The stock has a 50-day moving average price of $29.80 and a 200 day moving average price of $30.27.
Corrections Corp. of America (NYSE:CXW) last released its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The company had revenue of $445.70 million during the quarter, compared to analyst estimates of $446.12 million. Corrections Corp. of America had a return on equity of 15.42% and a net margin of 12.10%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.61 earnings per share. On average, analysts expect that Corrections Corp. of America will post $1.53 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.68 annualized dividend and a yield of 5.92%. Corrections Corp. of America’s dividend payout ratio is currently 88.42%.
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CXW has been the subject of a number of recent research reports. Zacks Investment Research downgraded Corrections Corp. of America from a “buy” rating to a “hold” rating in a research report on Tuesday, April 11th. Canaccord Genuity restated a “buy” rating and issued a $34.00 price target on shares of Corrections Corp. of America in a research note on Monday, March 27th. Deutsche Bank AG increased their price target on Corrections Corp. of America from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Finally, BidaskClub cut Corrections Corp. of America from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $32.50.
In related news, EVP Lucibeth Mayberry sold 6,236 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $30.41, for a total value of $189,636.76. Following the completion of the sale, the executive vice president now owns 51,851 shares in the company, valued at $1,576,788.91. The sale 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 23,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $33.86, for a total value of $778,780.00. Following the completion of the sale, the executive vice president now owns 39,510 shares of the company’s stock, valued at approximately $1,337,808.60. The disclosure for this sale can be found here. Insiders have sold 44,236 shares of company stock valued at $1,453,317 in the last 90 days. Company insiders own 1.30% of the company’s stock.
About Corrections Corp. of America
CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.
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