CoreCivic, Inc. $CXW Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in shares of CoreCivic, Inc. (NYSE:CXW) by 61.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,987 shares of the real estate investment trust’s stock after buying an additional 44,706 shares during the period. Intech Investment Management LLC’s holdings in CoreCivic were worth $2,486,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in shares of CoreCivic by 433.2% during the first quarter. Victory Capital Management Inc. now owns 109,996 shares of the real estate investment trust’s stock worth $2,232,000 after acquiring an additional 89,365 shares during the last quarter. Allianz Asset Management GmbH raised its position in CoreCivic by 7.3% in the 1st quarter. Allianz Asset Management GmbH now owns 1,622,800 shares of the real estate investment trust’s stock valued at $32,927,000 after purchasing an additional 109,769 shares during the last quarter. Guidance Capital Inc. boosted its stake in CoreCivic by 19.9% during the 1st quarter. Guidance Capital Inc. now owns 25,059 shares of the real estate investment trust’s stock worth $508,000 after purchasing an additional 4,151 shares during the period. Mackenzie Financial Corp grew its position in CoreCivic by 445.0% during the 1st quarter. Mackenzie Financial Corp now owns 89,102 shares of the real estate investment trust’s stock worth $1,808,000 after purchasing an additional 72,752 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd increased its stake in CoreCivic by 29.6% in the first quarter. Harvest Fund Management Co. Ltd now owns 9,250 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 2,113 shares during the period. Hedge funds and other institutional investors own 85.13% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CXW. Wall Street Zen downgraded shares of CoreCivic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Jones Trading reaffirmed a “buy” rating and set a $30.00 price objective on shares of CoreCivic in a research note on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CoreCivic in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

CoreCivic Stock Up 3.8%

CXW opened at $16.74 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60. The business has a 50 day simple moving average of $18.94 and a 200-day simple moving average of $20.32. The stock has a market capitalization of $1.75 billion, a P/E ratio of 17.81 and a beta of 0.68. CoreCivic, Inc. has a 12 month low of $15.95 and a 12 month high of $23.85.

CoreCivic (NYSE:CXW) last announced its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. The firm had revenue of $580.44 million for the quarter, compared to analyst estimates of $544.38 million. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.CoreCivic’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 earnings per share. CoreCivic has set its FY 2025 guidance at 1.940-2.000 EPS. On average, equities analysts anticipate that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

CoreCivic announced that its board has initiated a share buyback plan on Monday, November 10th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 10.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

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

CoreCivic Company 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.