Integrated Quantitative Investments LLC Takes $1.07 Million Position in CoreCivic, Inc. $CXW

Integrated Quantitative Investments LLC purchased a new position in shares of CoreCivic, Inc. (NYSE:CXW) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 52,659 shares of the real estate investment trust’s stock, valued at approximately $1,072,000. Integrated Quantitative Investments LLC owned approximately 0.05% of CoreCivic at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Balyasny Asset Management L.P. increased its position in CoreCivic by 361.3% during the second quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust’s stock worth $26,562,000 after buying an additional 987,375 shares during the last quarter. Turiya Advisors Asia Ltd bought a new position in shares of CoreCivic during the 3rd quarter worth approximately $9,748,000. Rubric Capital Management LP increased its holdings in shares of CoreCivic by 107.0% during the 2nd quarter. Rubric Capital Management LP now owns 815,280 shares of the real estate investment trust’s stock worth $17,178,000 after acquiring an additional 421,391 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of CoreCivic by 172.3% during the 2nd quarter. Prudential Financial Inc. now owns 587,361 shares of the real estate investment trust’s stock worth $12,376,000 after acquiring an additional 371,632 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in CoreCivic by 104.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 672,179 shares of the real estate investment trust’s stock valued at $14,163,000 after acquiring an additional 344,083 shares during the period. 85.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of CoreCivic from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. JonesTrading reiterated a “buy” rating and issued a $30.00 price target on shares of CoreCivic in a research note on Friday, February 13th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

CoreCivic Stock Performance

Shares of NYSE:CXW opened at $18.46 on Thursday. The company’s 50 day simple moving average is $18.85 and its 200 day simple moving average is $19.00. 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 $1.80 billion, a price-to-earnings ratio of 17.09 and a beta of 0.72. 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 (NYSE:CXW) last issued its quarterly 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 company had revenue of $603.95 million during the quarter, compared to analyst estimates of $585.12 million. CoreCivic had a net margin of 5.27% and a return on equity of 8.17%. The company’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. As a group, research analysts predict that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

CoreCivic declared that its Board of Directors has authorized a share buyback program on Monday, November 10th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 10.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.