Resolute Capital Asset Partners LLC Purchases New Stake in CoreCivic, Inc. (NYSE:CXW)

Resolute Capital Asset Partners LLC acquired a new position in shares of CoreCivic, Inc. (NYSE:CXW) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 50,000 shares of the real estate investment trust’s stock, valued at approximately $649,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hsbc Holdings PLC lifted its stake in shares of CoreCivic by 24.1% during the 2nd quarter. Hsbc Holdings PLC now owns 23,304 shares of the real estate investment trust’s stock worth $299,000 after buying an additional 4,522 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in CoreCivic in the 2nd quarter valued at about $1,115,000. Headlands Technologies LLC acquired a new stake in CoreCivic during the second quarter worth approximately $29,000. Victory Capital Management Inc. boosted its holdings in shares of CoreCivic by 4.6% during the second quarter. Victory Capital Management Inc. now owns 105,908 shares of the real estate investment trust’s stock worth $1,375,000 after acquiring an additional 4,702 shares during the period. Finally, nVerses Capital LLC acquired a new position in shares of CoreCivic in the second quarter valued at approximately $40,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CXW has been the subject of several research reports. Wedbush reissued a “neutral” rating and set a $14.00 price target on shares of CoreCivic in a report on Friday, September 13th. Noble Financial downgraded CoreCivic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 12th.

Insider Transactions at CoreCivic

In related news, insider David K. Churchill sold 15,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $13.61, for a total value of $204,150.00. Following the transaction, the insider now owns 214,056 shares in the company, valued at $2,913,302.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Damon T. Hininger sold 31,996 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $12.50, for a total transaction of $399,950.00. Following the completion of the sale, the chief executive officer now owns 788,266 shares of the company’s stock, valued at approximately $9,853,325. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David K. Churchill sold 15,000 shares of CoreCivic stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $13.61, for a total transaction of $204,150.00. Following the completion of the transaction, the insider now directly owns 214,056 shares in the company, valued at $2,913,302.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 161,996 shares of company stock valued at $2,077,000. 1.89% of the stock is owned by corporate insiders.

CoreCivic Stock Performance

Shares of NYSE:CXW opened at $12.87 on Thursday. CoreCivic, Inc. has a 12-month low of $10.11 and a 12-month high of $16.54. The company’s 50 day moving average price is $13.44 and its two-hundred day moving average price is $14.18. The firm has a market cap of $1.43 billion, a PE ratio of 22.97 and a beta of 0.87. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.70.

CoreCivic (NYSE:CXW) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.20). CoreCivic had a return on equity of 6.10% and a net margin of 3.50%. The company had revenue of $490.11 million for the quarter, compared to analyst estimates of $481.87 million. During the same period in the prior year, the company earned $0.33 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities research analysts predict that CoreCivic, Inc. will post 1.49 earnings per share for the current year.

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.