Hodges Capital Management Inc. Invests $898,000 in CoreCivic, Inc. $CXW

Hodges Capital Management Inc. bought a new position in shares of CoreCivic, Inc. (NYSE:CXW) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 44,253 shares of the real estate investment trust’s stock, valued at approximately $898,000.

Several other hedge funds also recently made changes to their positions in CXW. Intech Investment Management LLC increased its stake in CoreCivic by 12.2% in the first quarter. Intech Investment Management LLC now owns 73,281 shares of the real estate investment trust’s stock valued at $1,487,000 after acquiring an additional 7,971 shares during the last quarter. SCS Capital Management LLC bought a new position in CoreCivic in the first quarter valued at approximately $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in CoreCivic by 2.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,467 shares of the real estate investment trust’s stock valued at $4,473,000 after acquiring an additional 4,977 shares during the last quarter. Aristeia Capital L.L.C. bought a new position in CoreCivic in the first quarter valued at approximately $489,000. Finally, Caxton Associates LLP bought a new position in CoreCivic in the first quarter valued at approximately $494,000. 85.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CXW has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of CoreCivic from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Jones Trading reissued a “buy” rating and issued a $30.00 price objective on shares of CoreCivic in a research note on Thursday, August 7th. Finally, Wedbush reissued an “outperform” rating and issued a $38.00 price objective on shares of CoreCivic in a research note on Wednesday, June 11th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $33.33.

Insiders Place Their Bets

In related news, EVP Anthony L. Grande sold 22,500 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $21.18, for a total value of $476,550.00. Following the sale, the executive vice president owned 135,559 shares of the company’s stock, valued at $2,871,139.62. The trade was a 14.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thurgood Marshall, Jr. sold 6,000 shares of the firm’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $20.52, for a total value of $123,120.00. Following the transaction, the director directly owned 44,023 shares of the company’s stock, valued at approximately $903,351.96. This represents a 11.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,000 shares of company stock worth $1,042,545. Insiders own 2.30% of the company’s stock.

CoreCivic Stock Performance

NYSE CXW opened at $21.09 on Friday. The firm’s fifty day moving average price is $20.58 and its two-hundred day moving average price is $20.86. The stock has a market cap of $2.26 billion, a PE ratio of 22.44 and a beta of 0.81. CoreCivic, Inc. has a fifty-two week low of $12.24 and a fifty-two week high of $24.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.60 and a current ratio of 1.60.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. The firm had revenue of $538.17 million for the quarter, compared to analysts’ expectations of $499.02 million. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. On average, equities analysts expect that CoreCivic, Inc. will post 1.5 EPS for the current fiscal 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.