CoreCivic, Inc. (NYSE:CXW) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in CoreCivic, Inc. (NYSE:CXW) by 47.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,639 shares of the real estate investment trust’s stock after selling 22,710 shares during the period. PNC Financial Services Group Inc.’s holdings in CoreCivic were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC acquired a new position in CoreCivic during the 4th quarter worth $29,000. Criterion Capital Advisors LLC purchased a new position in shares of CoreCivic in the 4th quarter valued at about $32,000. USA Financial Formulas acquired a new position in shares of CoreCivic during the fourth quarter worth about $69,000. Counterpoint Mutual Funds LLC increased its stake in shares of CoreCivic by 198.0% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 27,504 shares of the real estate investment trust’s stock worth $400,000 after buying an additional 18,274 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in CoreCivic by 39.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,062 shares of the real estate investment trust’s stock valued at $484,000 after acquiring an additional 12,085 shares in the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

Insider Transactions at CoreCivic

In related news, CFO David Garfinkle sold 19,900 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $15.18, for a total transaction of $302,082.00. Following the completion of the sale, the chief financial officer now owns 361,628 shares in the company, valued at approximately $5,489,513.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other CoreCivic news, CFO David Garfinkle sold 19,900 shares of CoreCivic stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $15.18, for a total value of $302,082.00. Following the transaction, the chief financial officer now directly owns 361,628 shares in the company, valued at approximately $5,489,513.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony L. Grande sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $15.51, for a total value of $232,650.00. Following the completion of the transaction, the executive vice president now directly owns 168,380 shares in the company, valued at approximately $2,611,573.80. The disclosure for this sale can be found here. Insiders own 1.89% of the company’s stock.

CoreCivic Price Performance

Shares of CXW opened at $12.98 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.17. CoreCivic, Inc. has a 1-year low of $9.06 and a 1-year high of $16.54. The stock has a market cap of $1.44 billion, a PE ratio of 23.18 and a beta of 0.87. The firm has a fifty day moving average price of $14.33 and a 200 day moving average price of $14.56.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.12). The firm had revenue of $500.69 million during the quarter, compared to analysts’ expectations of $477.93 million. CoreCivic had a net margin of 3.34% and a return on equity of 5.74%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 earnings per share. As a group, sell-side analysts anticipate that CoreCivic, Inc. will post 1.52 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CXW. Wedbush downgraded shares of CoreCivic from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $19.00 to $14.00 in a research report on Tuesday, June 11th. Northland Securities raised their price target on CoreCivic from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. StockNews.com cut CoreCivic from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. Finally, Noble Financial lowered CoreCivic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 12th.

CoreCivic 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.