51,951 CoreCivic, Inc. $CXW Shares Bought by CenterBook Partners LP

CenterBook Partners LP grew its stake in CoreCivic, Inc. (NYSE:CXW) by 338.0% in the third quarter, HoldingsChannel reports. The fund owned 67,322 shares of the real estate investment trust’s stock after acquiring an additional 51,951 shares during the period. CenterBook Partners LP’s holdings in CoreCivic were worth $2,171,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CXW. Farther Finance Advisors LLC grew its stake in shares of CoreCivic by 48.4% during the third quarter. Farther Finance Advisors LLC now owns 1,340 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 437 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of CoreCivic in the third quarter valued at approximately $48,000. Persistent Asset Partners Ltd acquired a new stake in shares of CoreCivic in the second quarter valued at approximately $52,000. Public Employees Retirement System of Ohio acquired a new stake in shares of CoreCivic in the second quarter valued at approximately $120,000. Finally, State of Wyoming acquired a new stake in shares of CoreCivic in the second quarter valued at approximately $205,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.

CoreCivic Stock Performance

CoreCivic stock opened at $28.59 on Monday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.27. CoreCivic, Inc. has a 1 year low of $15.73 and a 1 year high of $36.55. The company has a market cap of $2.83 billion, a PE ratio of 1.84 and a beta of 0.63. The company’s 50-day moving average is $32.32 and its two-hundred day moving average is $25.98.

CoreCivic (NYSE:CXW) last issued its earnings results on Wednesday, November 4th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $15.14 by ($14.65). CoreCivic had a net margin of 54.60% and a return on equity of 9.27%. The business had revenue of $744.09 million during the quarter, compared to the consensus estimate of $697.55 million. During the same period last year, the business posted $0.48 EPS. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. Equities analysts anticipate that CoreCivic, Inc. will post 2.82 earnings per share for the current year.

CoreCivic declared that its board has authorized a share buyback plan on Monday, August 10th that authorizes the company to buy back $500 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 15.7% of its stock through open market purchases. Share repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CXW. Wall Street Zen cut shares of CoreCivic from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Weiss Ratings lowered CoreCivic from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 28th. Noble Financial reiterated an “outperform” rating on shares of CoreCivic in a research report on Monday, August 10th. JonesTrading reissued a “buy” rating and issued a $42.00 target price on shares of CoreCivic in a research note on Friday, September 18th. Finally, Benchmark boosted their target price on CoreCivic from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, CoreCivic has an average rating of “Moderate Buy” and an average price target of $39.40.

Insider Buying and Selling at CoreCivic

In other CoreCivic news, Director Mark A. Emkes sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $34.25, for a total value of $1,027,500.00. Following the transaction, the director directly owned 141,274 shares of the company’s stock, valued at approximately $4,838,634.50. This trade represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John R. Prann, Jr. sold 3,098 shares of CoreCivic stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $34.00, for a total transaction of $105,332.00. Following the sale, the director directly owned 5,000 shares of the company’s stock, valued at $170,000. This represents a 38.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 459,287 shares of company stock valued at $15,431,193 over the last 90 days. Company insiders own 1.76% of the company’s stock.

CoreCivic Profile

CoreCivic, Inc is a U.S. corrections and government-services company that operates correctional and detention facilities under contracts with federal, state and local government agencies. Its services include facility management and related support for people in custody.

The company also provides residential reentry services, including transitional housing and programs intended to help people return to their communities. Through its real estate business, CoreCivic owns and develops correctional and detention properties that government agencies may lease.

Founded in 1983 as Corrections Corporation of America, the company adopted the CoreCivic name in 2016.