Intech Investment Management LLC Raises Stake in CoreCivic, Inc. (NYSE:CXW)

Intech Investment Management LLC lifted its stake in shares of CoreCivic, Inc. (NYSE:CXW) by 485.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 87,737 shares of the real estate investment trust’s stock after acquiring an additional 72,750 shares during the period. Intech Investment Management LLC’s holdings in CoreCivic were worth $1,110,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC increased its position in CoreCivic by 24,217.1% during the third quarter. Quest Partners LLC now owns 17,022 shares of the real estate investment trust’s stock worth $215,000 after purchasing an additional 16,952 shares during the last quarter. Chesapeake Capital Corp IL acquired a new stake in shares of CoreCivic during the 3rd quarter worth approximately $139,000. Hourglass Capital LLC raised its position in shares of CoreCivic by 2.1% during the 3rd quarter. Hourglass Capital LLC now owns 121,380 shares of the real estate investment trust’s stock valued at $1,535,000 after buying an additional 2,490 shares during the period. River Road Asset Management LLC lifted its holdings in CoreCivic by 0.5% in the third quarter. River Road Asset Management LLC now owns 8,611,640 shares of the real estate investment trust’s stock valued at $108,937,000 after acquiring an additional 40,365 shares during the last quarter. Finally, abrdn plc grew its position in CoreCivic by 8.7% in the third quarter. abrdn plc now owns 1,031,400 shares of the real estate investment trust’s stock worth $13,047,000 after acquiring an additional 82,500 shares during the period. Institutional investors and hedge funds own 85.13% of the company’s stock.

CoreCivic Stock Up 2.5 %

CoreCivic stock opened at $22.49 on Thursday. CoreCivic, Inc. has a fifty-two week low of $10.74 and a fifty-two week high of $24.99. The firm has a 50 day moving average price of $15.77 and a 200 day moving average price of $14.39. The company has a market capitalization of $2.48 billion, a PE ratio of 33.57 and a beta of 0.86. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.51 and a current ratio of 1.51.

Insider Activity

In related news, EVP Cole G. Carter sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $12.58, for a total transaction of $100,640.00. Following the completion of the transaction, the executive vice president now directly owns 207,847 shares in the company, valued at $2,614,715.26. This trade represents a 3.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David Garfinkle sold 50,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $24.20, for a total transaction of $1,210,000.00. Following the sale, the chief financial officer now owns 276,528 shares in the company, valued at $6,691,977.60. This trade represents a 15.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,000 shares of company stock valued at $2,490,520. 2.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CXW. Wedbush reaffirmed a “neutral” rating and issued a $14.00 price target on shares of CoreCivic in a research note on Friday, September 13th. Northland Securities upped their target price on shares of CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

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.