abrdn plc Sells 612,800 Shares of CoreCivic, Inc. (NYSE:CXW)

abrdn plc reduced its holdings in CoreCivic, Inc. (NYSE:CXW) by 59.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 418,600 shares of the real estate investment trust’s stock after selling 612,800 shares during the quarter. abrdn plc owned 0.38% of CoreCivic worth $9,033,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. River Road Asset Management LLC increased its stake in CoreCivic by 0.5% in the 3rd quarter. River Road Asset Management LLC now owns 8,611,640 shares of the real estate investment trust’s stock worth $108,937,000 after acquiring an additional 40,365 shares during the last quarter. FMR LLC increased its stake in CoreCivic by 3.8% in the 3rd quarter. FMR LLC now owns 5,117,716 shares of the real estate investment trust’s stock worth $64,739,000 after acquiring an additional 186,310 shares during the last quarter. State Street Corp increased its stake in CoreCivic by 0.4% in the 3rd quarter. State Street Corp now owns 4,200,268 shares of the real estate investment trust’s stock worth $53,133,000 after acquiring an additional 18,415 shares during the last quarter. Geode Capital Management LLC increased its stake in CoreCivic by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,570,005 shares of the real estate investment trust’s stock worth $32,517,000 after acquiring an additional 18,410 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in CoreCivic by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,481,315 shares of the real estate investment trust’s stock worth $31,389,000 after acquiring an additional 35,591 shares during the last quarter. 85.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other CoreCivic news, Director Anne L. Mariucci sold 10,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the sale, the director now owns 101,936 shares in the company, valued at approximately $2,446,464. This trade represents a 8.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Anthony L. Grande sold 26,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $22.18, for a total value of $576,680.00. Following the completion of the sale, the executive vice president now owns 127,380 shares of the company’s stock, valued at approximately $2,825,288.40. This trade represents a 16.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,000 shares of company stock worth $2,389,880 in the last ninety days. 2.21% of the stock is owned by insiders.

CoreCivic Price Performance

CXW opened at $18.39 on Friday. The stock’s 50 day simple moving average is $21.55 and its 200 day simple moving average is $17.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.51. CoreCivic, Inc. has a 1 year low of $10.74 and a 1 year high of $24.99. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 27.45 and a beta of 1.00.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Northland Securities increased their price objective on CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Wedbush upgraded CoreCivic from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $19.00 to $30.00 in a research report on Tuesday, December 10th.

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.