Manning & Napier Advisors LLC lowered its position in Corrections Corp. of America (NYSE:CXW) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,480 shares of the real estate investment trust’s stock after selling 9,905 shares during the quarter. Manning & Napier Advisors LLC owned 0.31% of Corrections Corp. of America worth $9,703,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CXW. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Corrections Corp. of America in the third quarter valued at $34,152,000. Daiwa Securities Group Inc. increased its position in shares of Corrections Corp. of America by 43.4% in the second quarter. Daiwa Securities Group Inc. now owns 3,865,032 shares of the real estate investment trust’s stock valued at $106,598,000 after buying an additional 1,170,205 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in Corrections Corp. of America during the 2nd quarter worth about $20,652,000. Russell Investments Group Ltd. increased its position in Corrections Corp. of America by 166.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 928,651 shares of the real estate investment trust’s stock worth $25,613,000 after purchasing an additional 580,109 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Corrections Corp. of America by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 19,273,935 shares of the real estate investment trust’s stock worth $531,576,000 after purchasing an additional 459,903 shares in the last quarter. Institutional investors and hedge funds own 84.78% of the company’s stock.

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A number of analysts recently commented on CXW shares. BidaskClub cut Corrections Corp. of America from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Friday, August 4th. Canaccord Genuity set a $36.00 price objective on Corrections Corp. of America and gave the stock a “buy” rating in a research report on Monday, August 7th. Deutsche Bank AG dropped their price objective on Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, August 8th. Finally, ValuEngine upgraded Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Corrections Corp. of America has an average rating of “Hold” and a consensus target price of $34.25.

In other Corrections Corp. of America news, CFO David Garfinkle sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $25.90, for a total value of $259,000.00. Following the sale, the chief financial officer now directly owns 90,114 shares of the company’s stock, valued at approximately $2,333,952.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thurgood Marshall, Jr. sold 2,360 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $25.90, for a total value of $61,124.00. Following the completion of the sale, the director now directly owns 31,083 shares in the company, valued at $805,049.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,360 shares of company stock worth $580,224. 1.30% of the stock is owned by corporate insiders.

Shares of Corrections Corp. of America (NYSE CXW) traded down $0.20 during trading hours on Friday, reaching $23.21. The company’s stock had a trading volume of 725,106 shares, compared to its average volume of 1,041,872. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.97. Corrections Corp. of America has a 12-month low of $19.97 and a 12-month high of $35.33. The firm has a market cap of $2,770.00, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 1.64 and a beta of 0.91.

Corrections Corp. of America (NYSE:CXW) last issued its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Corrections Corp. of America had a return on equity of 13.54% and a net margin of 11.03%. The firm had revenue of $442.80 million for the quarter, compared to analyst estimates of $437.18 million. During the same period last year, the company earned $0.69 EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. equities analysts predict that Corrections Corp. of America will post 2.33 earnings per share for the current year.

Corrections Corp. of America 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.

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

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