CoreCivic, Inc. $CXW Stake Lessened by Invenomic Capital Management LP

Invenomic Capital Management LP decreased its holdings in shares of CoreCivic, Inc. (NYSE:CXW) by 19.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 252,230 shares of the real estate investment trust’s stock after selling 59,367 shares during the quarter. Invenomic Capital Management LP’s holdings in CoreCivic were worth $5,133,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of CoreCivic by 1.5% in the third quarter. Vanguard Group Inc. now owns 12,574,673 shares of the real estate investment trust’s stock worth $255,895,000 after acquiring an additional 183,923 shares during the last quarter. Rubric Capital Management LP boosted its position in CoreCivic by 140.6% during the third quarter. Rubric Capital Management LP now owns 1,961,446 shares of the real estate investment trust’s stock valued at $39,915,000 after purchasing an additional 1,146,166 shares during the last quarter. Allianz Asset Management GmbH boosted its position in CoreCivic by 13.8% during the third quarter. Allianz Asset Management GmbH now owns 1,856,230 shares of the real estate investment trust’s stock valued at $37,774,000 after purchasing an additional 224,747 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in CoreCivic by 361.3% in the second quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust’s stock valued at $26,562,000 after purchasing an additional 987,375 shares in the last quarter. Finally, Philosophy Capital Management LLC grew its stake in CoreCivic by 144.9% in the third quarter. Philosophy Capital Management LLC now owns 1,021,373 shares of the real estate investment trust’s stock valued at $20,785,000 after purchasing an additional 604,311 shares in the last quarter. 85.13% of the stock is owned by institutional investors and hedge funds.

CoreCivic Trading Up 3.1%

CXW stock opened at $18.20 on Monday. CoreCivic, Inc. has a 1-year low of $15.73 and a 1-year high of $23.54. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $18.67 and its 200-day moving average is $18.86. The firm has a market cap of $1.78 billion, a P/E ratio of 16.85 and a beta of 0.72.

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

Analysts Set New Price Targets

A number of research firms have issued reports on CXW. JonesTrading reiterated a “buy” rating and issued a $30.00 target price on shares of CoreCivic in a research note on Friday, February 13th. Wall Street Zen raised shares of CoreCivic from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.