Cornercap Investment Counsel Inc. Lowers Position in CoreCivic, Inc. (NYSE:CXW)

Cornercap Investment Counsel Inc. trimmed its position in shares of CoreCivic, Inc. (NYSE:CXW) by 29.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 37,671 shares of the real estate investment trust’s stock after selling 15,633 shares during the period. Cornercap Investment Counsel Inc.’s holdings in CoreCivic were worth $547,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of CoreCivic during the 1st quarter valued at $36,000. Quarry LP acquired a new stake in shares of CoreCivic in the first quarter valued at about $57,000. Lazard Asset Management LLC purchased a new stake in shares of CoreCivic during the 2nd quarter valued at about $58,000. UBS Group AG lifted its position in CoreCivic by 110.6% during the 2nd quarter. UBS Group AG now owns 5,387 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 2,829 shares in the last quarter. Finally, Advisory Services Network LLC boosted its holdings in CoreCivic by 152.5% in the 1st quarter. Advisory Services Network LLC now owns 7,121 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 4,301 shares during the period. 85.13% of the stock is owned by hedge funds and other institutional investors.

CoreCivic Stock Down 0.6 %

CXW stock opened at $15.11 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.73. The firm has a 50 day simple moving average of $15.02 and a 200-day simple moving average of $14.05. The company has a market capitalization of $1.69 billion, a P/E ratio of 25.60 and a beta of 0.81. CoreCivic, Inc. has a twelve month low of $7.84 and a twelve month high of $16.24.

CoreCivic (NYSE:CXW) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.17). The company had revenue of $491.25 million for the quarter, compared to analyst estimates of $489.62 million. CoreCivic had a return on equity of 4.70% and a net margin of 3.56%. On average, equities research analysts predict that CoreCivic, Inc. will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CXW. StockNews.com cut shares of CoreCivic from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Northland Securities boosted their price objective on shares of CoreCivic from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Finally, Wedbush raised their target price on CoreCivic from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, April 8th.

Insider Activity at CoreCivic

In other CoreCivic news, EVP Anthony L. Grande sold 15,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $14.50, for a total transaction of $217,500.00. Following the transaction, the executive vice president now owns 186,692 shares of the company’s stock, valued at approximately $2,707,034. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other CoreCivic news, EVP Anthony L. Grande sold 15,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $14.50, for a total transaction of $217,500.00. Following the completion of the sale, the executive vice president now owns 186,692 shares in the company, valued at $2,707,034. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Damon T. Hininger sold 50,525 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $14.62, for a total transaction of $738,675.50. Following the completion of the transaction, the chief executive officer now owns 820,262 shares in the company, valued at $11,992,230.44. The disclosure for this sale can be found here. 2.21% of the stock is owned by corporate insiders.

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.