Hartford Investment Management Co. Sells 3,940 Shares of Corrections Corp. of America (CXW)

Hartford Investment Management Co. lessened its holdings in shares of Corrections Corp. of America (NYSE:CXW) by 8.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,743 shares of the real estate investment trust’s stock after selling 3,940 shares during the quarter. Hartford Investment Management Co.’s holdings in Corrections Corp. of America were worth $1,171,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisory Services Network LLC raised its holdings in shares of Corrections Corp. of America by 115.0% during the 2nd quarter. Advisory Services Network LLC now owns 4,093 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 2,189 shares during the period. Arizona State Retirement System raised its holdings in shares of Corrections Corp. of America by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 49,800 shares of the real estate investment trust’s stock worth $1,373,000 after acquiring an additional 900 shares during the period. Bridgewater Associates LP purchased a new position in shares of Corrections Corp. of America during the 2nd quarter worth $255,000. Canada Pension Plan Investment Board raised its holdings in shares of Corrections Corp. of America by 133.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 79,300 shares of the real estate investment trust’s stock worth $2,123,000 after acquiring an additional 45,400 shares during the period. Finally, Lee Danner & Bass Inc. raised its holdings in shares of Corrections Corp. of America by 3.1% during the 3rd quarter. Lee Danner & Bass Inc. now owns 1,216,716 shares of the real estate investment trust’s stock worth $32,571,000 after acquiring an additional 36,318 shares during the period. 83.20% of the stock is currently owned by institutional investors.

Shares of Corrections Corp. of America (CXW) opened at $23.15 on Tuesday. The stock has a market cap of $2,743.52, a PE ratio of 9.32, a P/E/G ratio of 1.66 and a beta of 0.88. Corrections Corp. of America has a fifty-two week low of $22.67 and a fifty-two week high of $35.33. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.10 and a quick ratio of 1.10.

Corrections Corp. of America (NYSE:CXW) last issued its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.02. The firm had revenue of $442.80 million for the quarter, compared to analyst estimates of $437.18 million. Corrections Corp. of America had a net margin of 11.03% and a return on equity of 13.54%. Corrections Corp. of America’s revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. equities analysts predict that Corrections Corp. of America will post 2.34 earnings per share for the current year.

Several analysts recently issued reports on CXW shares. Zacks Investment Research upgraded shares of Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Thursday, August 24th. Canaccord Genuity set a $36.00 price objective on shares of Corrections Corp. of America and gave the company a “buy” rating in a report on Monday, August 7th. ValuEngine lowered shares of Corrections Corp. of America from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Deutsche Bank reduced their price objective on shares of Corrections Corp. of America from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, August 8th. Finally, SunTrust Banks restated a “buy” rating and issued a $37.00 price objective on shares of Corrections Corp. of America in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $33.50.

In other Corrections Corp. of America news, CFO David Garfinkle sold 10,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $25.90, for a total transaction of $259,000.00. Following the sale, the chief financial officer now directly owns 90,114 shares in the company, valued at $2,333,952.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thurgood Marshall, Jr. sold 2,360 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $25.90, for a total transaction of $61,124.00. Following the sale, the director now owns 31,083 shares in the company, valued at $805,049.70. The disclosure for this sale can be found here. Insiders have sold 22,360 shares of company stock worth $580,224 over the last quarter. Insiders own 1.30% of the company’s stock.

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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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