Pinebridge Investments L.P. raised its stake in shares of Corecivic Inc (NYSE:CXW) by 254.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,032 shares of the real estate investment trust’s stock after buying an additional 7,202 shares during the quarter. Pinebridge Investments L.P.’s holdings in Corecivic were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asia Hong Kong Ltd purchased a new stake in Corecivic during the 1st quarter valued at approximately $165,000. Virtu Financial LLC purchased a new position in shares of Corecivic in the second quarter valued at $226,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Corecivic in the second quarter valued at $226,000. Fox Run Management L.L.C. purchased a new position in shares of Corecivic in the second quarter valued at $319,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Corecivic in the first quarter valued at $282,000. 84.14% of the stock is owned by institutional investors and hedge funds.
CXW stock opened at $25.75 on Friday. Corecivic Inc has a fifty-two week low of $18.61 and a fifty-two week high of $27.50. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $3.04 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 1.85 and a beta of 1.03.
Corecivic (NYSE:CXW) last posted its earnings results on Wednesday, August 8th. The real estate investment trust reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Corecivic had a net margin of 8.99% and a return on equity of 11.44%. The business had revenue of $449.93 million during the quarter, compared to analysts’ expectations of $435.61 million. During the same period last year, the business posted $0.59 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. analysts predict that Corecivic Inc will post 2.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date of this dividend is Friday, September 28th. Corecivic’s dividend payout ratio (DPR) is presently 74.14%.
A number of research firms recently weighed in on CXW. ValuEngine raised shares of Corecivic from a “strong sell” rating to a “sell” rating in a report on Thursday, August 2nd. Zacks Investment Research lowered shares of Corecivic from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Finally, TheStreet raised shares of Corecivic from a “c” rating to a “b-” rating in a report on Monday, June 25th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. Corecivic currently has a consensus rating of “Buy” and a consensus price target of $32.67.
In other Corecivic news, Director Charles L. Overby sold 43,712 shares of Corecivic stock in a transaction on Monday, August 13th. The shares were sold at an average price of $25.26, for a total transaction of $1,104,165.12. Following the completion of the transaction, the director now directly owns 57,067 shares of the company’s stock, valued at $1,441,512.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Damon T. Hininger sold 14,027 shares of Corecivic stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $26.00, for a total transaction of $364,702.00. Following the transaction, the chief executive officer now directly owns 238,785 shares of the company’s stock, valued at $6,208,410. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,746 shares of company stock valued at $2,368,430. 1.30% of the stock is currently owned by insiders.
The Company is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.
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