Turiya Advisors Asia Ltd Buys Shares of 479,000 CoreCivic, Inc. $CXW

Turiya Advisors Asia Ltd purchased a new stake in CoreCivic, Inc. (NYSE:CXW) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 479,000 shares of the real estate investment trust’s stock, valued at approximately $9,748,000. CoreCivic accounts for approximately 2.6% of Turiya Advisors Asia Ltd’s holdings, making the stock its 4th largest position.

Several other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. purchased a new position in CoreCivic in the second quarter worth approximately $25,000. Covestor Ltd lifted its stake in shares of CoreCivic by 31,516.7% in the 3rd quarter. Covestor Ltd now owns 1,897 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,891 shares during the last quarter. CWM LLC grew its holdings in shares of CoreCivic by 80.1% during the 2nd quarter. CWM LLC now owns 2,186 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 972 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of CoreCivic by 33.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 702 shares during the period. Finally, LSV Asset Management acquired a new stake in shares of CoreCivic during the 3rd quarter worth about $151,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

CoreCivic Stock Up 4.2%

Shares of CXW opened at $17.16 on Thursday. The company’s 50-day simple moving average is $18.97 and its 200-day simple moving average is $19.09. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.41 and a current ratio of 1.66. CoreCivic, Inc. has a 1 year low of $15.73 and a 1 year high of $23.54. The stock has a market capitalization of $1.68 billion, a PE ratio of 15.89 and a beta of 0.71.

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

CoreCivic declared that its board has approved a stock buyback program 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have commented on CXW shares. Wall Street Zen raised shares of CoreCivic from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. JonesTrading restated a “buy” rating and issued a $30.00 price objective on shares of CoreCivic in a report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, CoreCivic has an average rating of “Moderate Buy” and an average target price of $34.00.

CoreCivic 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.