Bank of New York Mellon Corp raised its holdings in Corecivic Inc (NYSE:CXW) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,514,976 shares of the real estate investment trust’s stock after purchasing an additional 190,010 shares during the period. Bank of New York Mellon Corp owned 2.96% of Corecivic worth $83,973,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of CXW. BlackRock Inc. increased its stake in shares of Corecivic by 27.7% in the second quarter. BlackRock Inc. now owns 13,789,027 shares of the real estate investment trust’s stock worth $329,422,000 after purchasing an additional 2,988,840 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Corecivic by 30.7% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,459,114 shares of the real estate investment trust’s stock valued at $58,748,000 after acquiring an additional 577,225 shares during the period. Global X Management Co LLC bought a new position in shares of Corecivic in the second quarter valued at approximately $9,753,000. LSV Asset Management boosted its position in shares of Corecivic by 199.2% in the second quarter. LSV Asset Management now owns 549,365 shares of the real estate investment trust’s stock valued at $13,124,000 after acquiring an additional 365,765 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of Corecivic by 30.9% in the second quarter. Jennison Associates LLC now owns 1,518,650 shares of the real estate investment trust’s stock valued at $36,281,000 after acquiring an additional 358,067 shares during the period. Hedge funds and other institutional investors own 81.67% of the company’s stock.
Shares of CXW traded up $0.34 during mid-day trading on Monday, reaching $22.29. The company’s stock had a trading volume of 601,100 shares, compared to its average volume of 861,381. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 1.59 and a beta of 1.06. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.14 and a current ratio of 1.14. Corecivic Inc has a 52 week low of $18.61 and a 52 week high of $26.09.
In other news, CFO David Garfinkle sold 5,010 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $21.70, for a total value of $108,717.00. Following the completion of the sale, the chief financial officer now directly owns 105,082 shares in the company, valued at approximately $2,280,279.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Damon T. Hininger sold 35,324 shares of Corecivic stock in a transaction on Friday, September 21st. The stock was sold at an average price of $25.75, for a total transaction of $909,593.00. Following the completion of the transaction, the chief executive officer now directly owns 260,082 shares in the company, valued at $6,697,111.50. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
A number of equities analysts have recently commented on CXW shares. Zacks Investment Research upgraded shares of Corecivic from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Monday, August 20th. Wells Fargo & Co set a $24.00 price objective on shares of Corecivic and gave the company a “hold” rating in a research report on Monday. Finally, ValuEngine upgraded shares of Corecivic from a “strong sell” rating to a “sell” rating in a research report on Monday, November 12th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $28.33.
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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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