Sierra Summit Advisors LLC Takes Position in CoreCivic, Inc. (NYSE:CXW)

Sierra Summit Advisors LLC acquired a new position in CoreCivic, Inc. (NYSE:CXW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 26,398 shares of the real estate investment trust’s stock, valued at approximately $574,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CXW. Meeder Asset Management Inc. acquired a new stake in CoreCivic in the fourth quarter worth about $43,000. Smartleaf Asset Management LLC increased its holdings in shares of CoreCivic by 318.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 1,859 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of CoreCivic by 86,300.0% in the 4th quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 4,315 shares during the last quarter. GAMMA Investing LLC boosted its stake in CoreCivic by 25.5% in the 4th quarter. GAMMA Investing LLC now owns 4,686 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 953 shares in the last quarter. Finally, KBC Group NV grew its position in CoreCivic by 57.3% during the 4th quarter. KBC Group NV now owns 5,477 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 1,995 shares during the last quarter. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

CoreCivic Stock Down 5.1 %

NYSE:CXW opened at $19.41 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.57 and a quick ratio of 1.51. The company’s fifty day moving average price is $19.46 and its 200-day moving average price is $18.96. CoreCivic, Inc. has a 1-year low of $10.74 and a 1-year high of $24.99. The firm has a market capitalization of $2.11 billion, a P/E ratio of 31.82 and a beta of 1.02.

CoreCivic (NYSE:CXW) last released its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. CoreCivic had a return on equity of 5.97% and a net margin of 3.51%. As a group, equities research analysts anticipate that CoreCivic, Inc. will post 1.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wedbush reiterated an “outperform” rating and set a $30.00 price objective on shares of CoreCivic in a research note on Tuesday, February 11th. Noble Financial upgraded CoreCivic from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 12th. Finally, StockNews.com raised CoreCivic from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th.

About CoreCivic

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.