Intech Investment Management LLC Sells 27,260 Shares of CoreCivic, Inc. $CXW

Intech Investment Management LLC reduced its position in CoreCivic, Inc. (NYSE:CXW) by 23.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,727 shares of the real estate investment trust’s stock after selling 27,260 shares during the period. Intech Investment Management LLC owned approximately 0.09% of CoreCivic worth $1,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in CoreCivic by 49.2% in the first quarter. Royal Bank of Canada now owns 59,523 shares of the real estate investment trust’s stock valued at $1,207,000 after acquiring an additional 19,630 shares during the period. AQR Capital Management LLC boosted its holdings in shares of CoreCivic by 69.8% in the first quarter. AQR Capital Management LLC now owns 28,120 shares of the real estate investment trust’s stock worth $571,000 after buying an additional 11,557 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in CoreCivic by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,828 shares of the real estate investment trust’s stock valued at $1,315,000 after buying an additional 2,828 shares during the period. Jones Financial Companies Lllp increased its holdings in CoreCivic by 3,884.2% during the first quarter. Jones Financial Companies Lllp now owns 18,885 shares of the real estate investment trust’s stock valued at $383,000 after buying an additional 18,411 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 worth $4,473,000 after acquiring an additional 4,977 shares during the period. Hedge funds and other institutional investors own 85.13% of the company’s stock.

CoreCivic Trading Up 0.7%

CXW stock opened at $18.46 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.66 and a quick ratio of 1.66. CoreCivic, Inc. has a 1-year low of $15.73 and a 1-year high of $23.54. The business has a 50 day simple moving average of $18.85 and a two-hundred day simple moving average of $19.00. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 17.09 and a beta of 0.72.

CoreCivic (NYSE:CXW) last released its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.16). CoreCivic had a net margin of 5.27% and a return on equity of 8.17%. The company had revenue of $603.95 million for the quarter, compared to the consensus estimate of $585.12 million. During the same quarter in the previous year, the business earned $0.39 EPS. The company’s quarterly revenue was up 26.0% on a year-over-year basis. Research analysts anticipate that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

CoreCivic announced that its Board of Directors has initiated a stock buyback program on Monday, November 10th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 10.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of CoreCivic from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. JonesTrading reissued a “buy” rating and set a $30.00 price target on shares of CoreCivic in a report on Friday, February 13th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

CoreCivic Company Profile

CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.