Paloma Partners Management Co bought a new position in Corrections Corp. of America (NYSE:CXW) during the first quarter, according to its most recent filing with the SEC. The firm bought 7,364 shares of the real estate investment trust’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TLP Group LLC acquired a new position in shares of Corrections Corp. of America during the first quarter worth about $113,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Corrections Corp. of America during the first quarter worth about $116,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Corrections Corp. of America during the first quarter worth about $126,000. Nisa Investment Advisors LLC acquired a new position in shares of Corrections Corp. of America during the first quarter worth about $172,000. Finally, ClariVest Asset Management LLC acquired a new position in shares of Corrections Corp. of America during the first quarter worth about $182,000. Hedge funds and other institutional investors own 88.79% of the company’s stock.

Corrections Corp. of America (CXW) traded down 0.69% during mid-day trading on Friday, hitting $24.42. 629,539 shares of the company traded hands. The firm has a market capitalization of $2.89 billion, a P/E ratio of 13.59 and a beta of 0.92. Corrections Corp. of America has a one year low of $12.99 and a one year high of $35.33. The firm has a 50 day moving average of $27.18 and a 200 day moving average of $30.50.

Corrections Corp. of America (NYSE:CXW) last released its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.23. Corrections Corp. of America had a net margin of 11.62% and a return on equity of 14.54%. The business had revenue of $436.39 million during the quarter, compared to analysts’ expectations of $437.92 million. During the same quarter in the previous year, the company earned $0.49 EPS. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. Equities research analysts expect that Corrections Corp. of America will post $1.53 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a $0.42 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.68 dividend on an annualized basis and a yield of 6.88%. Corrections Corp. of America’s dividend payout ratio is presently 93.86%.

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A number of research analysts have issued reports on the stock. Deutsche Bank AG decreased their target price on shares of Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, August 8th. ValuEngine upgraded shares of Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a research report on Friday. Zacks Investment Research upgraded shares of Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Friday, August 4th. Finally, Canaccord Genuity set a $36.00 price target on shares of Corrections Corp. of America and gave the stock a “buy” rating in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Corrections Corp. of America has an average rating of “Buy” and a consensus price target of $30.00.

In other news, EVP Lucibeth Mayberry sold 6,236 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were 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 directly owns 51,851 shares in the company, valued at approximately $1,576,788.91. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kim White sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $26.27, for a total transaction of $131,350.00. Following the completion of the sale, the executive vice president now owns 22,393 shares of the company’s stock, valued at $588,264.11. The disclosure for this sale can be found here. In the last three months, insiders sold 16,236 shares of company stock valued at $473,687. Corporate insiders own 1.30% of the company’s stock.

Corrections Corp. of America Company Profile

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.

Institutional Ownership by Quarter for Corrections Corp. of America (NYSE:CXW)

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