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

Intech Investment Management LLC raised its holdings in CoreCivic, Inc. (NYSE:CXW) by 485.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 87,737 shares of the real estate investment trust’s stock after purchasing an additional 72,750 shares during the quarter. Intech Investment Management LLC owned 0.08% of CoreCivic worth $1,110,000 at the end of the most recent reporting period.

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

CoreCivic Trading Up 2.5 %

Shares of CXW stock opened at $22.49 on Thursday. CoreCivic, Inc. has a 1-year low of $10.74 and a 1-year high of $24.99. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 33.57 and a beta of 0.86. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a 50 day simple moving average of $15.77 and a 200-day simple moving average of $14.39.

Insider Activity

In other news, EVP Cole G. Carter sold 8,000 shares of CoreCivic stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $12.58, for a total value of $100,640.00. Following the sale, the executive vice president now directly owns 207,847 shares of the company’s stock, valued at $2,614,715.26. The trade was a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anne L. Mariucci sold 10,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the transaction, the director now directly owns 101,936 shares of the company’s stock, valued at approximately $2,446,464. This represents a 8.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock worth $2,490,520 over the last 90 days. 2.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on CXW. Wedbush reiterated a “neutral” rating and issued a $14.00 target price on shares of CoreCivic in a research note on Friday, September 13th. Northland Securities increased their target price on shares of CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th.

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.