Intech Investment Management LLC Sells 27,260 Shares of CoreCivic, Inc. $CXW

Intech Investment Management LLC decreased its position in CoreCivic, Inc. (NYSE:CXW) by 23.1% during the third quarter, HoldingsChannel.com reports. The fund owned 90,727 shares of the real estate investment trust’s stock after selling 27,260 shares during the quarter. Intech Investment Management LLC’s holdings in CoreCivic were worth $1,846,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CXW. Advisors Asset Management Inc. purchased a new position in shares of CoreCivic in the second quarter valued at $25,000. Covestor Ltd lifted its position in CoreCivic by 31,516.7% during the third quarter. Covestor Ltd now owns 1,897 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,891 shares during the last quarter. CWM LLC grew its stake in shares of CoreCivic by 80.1% in the 2nd quarter. CWM LLC now owns 2,186 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 972 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of CoreCivic by 33.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 702 shares during the last quarter. Finally, LSV Asset Management purchased a new stake in shares of CoreCivic during the 3rd quarter valued at about $151,000. 85.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CXW has been the subject of several recent research reports. Wall Street Zen lowered CoreCivic from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. JonesTrading reissued a “buy” rating and set a $30.00 target price on shares of CoreCivic in a research report on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.00.

CoreCivic Stock Up 0.7%

Shares of NYSE CXW opened at $18.46 on Thursday. CoreCivic, Inc. has a 1 year low of $15.73 and a 1 year high of $23.54. The firm has a 50-day simple moving average of $18.85 and a two-hundred day simple moving average of $19.00. The company has a market cap of $1.80 billion, a P/E ratio of 17.09 and a beta of 0.72. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.66 and a quick ratio of 1.66.

CoreCivic (NYSE:CXW) last released its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.16). CoreCivic had a net margin of 5.27% and a return on equity of 8.17%. The business had revenue of $603.95 million for the quarter, compared to the consensus estimate of $585.12 million. During the same period in the prior year, the company posted $0.39 EPS. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. Research analysts anticipate that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

CoreCivic declared that its board has approved a stock buyback program on Monday, November 10th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 10.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

About CoreCivic

CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.