Corrections Corp. of America (NYSE:CXW) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in shares of Corrections Corp. of America (NYSE:CXW) by 18.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,524 shares of the real estate investment trust’s stock after buying an additional 3,992 shares during the period. SG Americas Securities LLC’s holdings in Corrections Corp. of America were worth $704,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. World Asset Management Inc increased its stake in Corrections Corp. of America by 1.8% in the 1st quarter. World Asset Management Inc now owns 8,756 shares of the real estate investment trust’s stock valued at $275,000 after purchasing an additional 155 shares in the last quarter. Capstone Asset Management Co. grew its holdings in Corrections Corp. of America by 1.4% during the 1st quarter. Capstone Asset Management Co. now owns 12,446 shares of the real estate investment trust’s stock valued at $391,000 after buying an additional 170 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Corrections Corp. of America by 1.6% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,673 shares of the real estate investment trust’s stock valued at $587,000 after buying an additional 300 shares during the last quarter. Steinberg Global Asset Management grew its holdings in Corrections Corp. of America by 1.6% during the 2nd quarter. Steinberg Global Asset Management now owns 23,158 shares of the real estate investment trust’s stock valued at $639,000 after buying an additional 369 shares during the last quarter. Finally, Retirement Systems of Alabama grew its holdings in Corrections Corp. of America by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 152,315 shares of the real estate investment trust’s stock valued at $4,201,000 after buying an additional 406 shares during the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.

Shares of Corrections Corp. of America (NYSE CXW) traded up 0.35% during trading on Friday, reaching $25.53. The company’s stock had a trading volume of 454,234 shares. The company’s 50-day moving average price is $25.93 and its 200 day moving average price is $29.54. Corrections Corp. of America has a 1-year low of $12.99 and a 1-year high of $35.33. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 14.21 and a beta of 0.92.

Corrections Corp. of America (NYSE:CXW) last released its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.23. The business had revenue of $436.39 million during the quarter, compared to analysts’ expectations of $437.92 million. Corrections Corp. of America had a net margin of 11.62% and a return on equity of 14.54%. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. Analysts anticipate that Corrections Corp. of America will post $1.52 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date of this dividend is Friday, September 29th. Corrections Corp. of America’s payout ratio is 93.86%.

In other Corrections Corp. of America news, Director Thurgood Marshall, Jr. sold 2,360 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $25.90, for a total transaction of $61,124.00. Following the sale, the director now directly owns 31,083 shares of the company’s stock, valued at approximately $805,049.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kim White sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $26.27, for a total transaction of $131,350.00. Following the sale, the executive vice president now directly owns 22,393 shares in the company, valued at $588,264.11. The disclosure for this sale can be found here. Insiders have sold a total of 17,360 shares of company stock worth $451,474 over the last three months. Insiders own 1.30% of the company’s stock.

CXW has been the topic of several analyst reports. Zacks Investment Research cut Corrections Corp. of America from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. BidaskClub cut Corrections Corp. of America from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. ValuEngine upgraded Corrections Corp. of America from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Canaccord Genuity set a $36.00 target price on Corrections Corp. of America and gave the company a “buy” rating in a report on Monday, August 7th. Finally, Deutsche Bank AG cut their price objective on Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $30.00.

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Corrections Corp. of America Company Profile

CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.

Institutional Ownership by Quarter for Corrections Corp. of America (NYSE:CXW)

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