Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Corecivic Inc (NYSE:CXW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 426,256 shares of the real estate investment trust’s stock, valued at approximately $10,370,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.36% of Corecivic at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in CXW. Sei Investments Co. increased its position in shares of Corecivic by 445.7% during the second quarter. Sei Investments Co. now owns 58,145 shares of the real estate investment trust’s stock valued at $1,389,000 after acquiring an additional 47,490 shares during the last quarter. Chartwell Investment Partners LLC boosted its holdings in shares of Corecivic by 33.7% in the second quarter. Chartwell Investment Partners LLC now owns 904,495 shares of the real estate investment trust’s stock worth $21,608,000 after acquiring an additional 227,876 shares during the period. Bank of New York Mellon Corp boosted its stake in Corecivic by 5.7% during the second quarter. Bank of New York Mellon Corp now owns 3,514,976 shares of the real estate investment trust’s stock valued at $83,973,000 after buying an additional 190,010 shares during the period. Boston Partners bought a new stake in Corecivic during the second quarter valued at $1,222,000. Finally, Alpha Windward LLC raised its position in Corecivic by 4,133.1% during the third quarter. Alpha Windward LLC now owns 21,631 shares of the real estate investment trust’s stock valued at $526,000 after purchasing an additional 21,120 shares in the last quarter. Institutional investors own 81.67% of the company’s stock.
In related news, CEO Damon T. Hininger sold 35,324 shares of Corecivic stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $25.75, for a total transaction of $909,593.00. Following the transaction, the chief executive officer now directly owns 260,082 shares of the company’s stock, valued at $6,697,111.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David Garfinkle sold 5,010 shares of Corecivic stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $21.70, for a total transaction of $108,717.00. Following the transaction, the chief financial officer now directly owns 105,082 shares in the company, valued at $2,280,279.40. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
Corecivic (NYSE:CXW) last released its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.34 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.04). Corecivic had a net margin of 8.88% and a return on equity of 11.64%. The company had revenue of $462.73 million for the quarter, compared to the consensus estimate of $454.79 million. During the same period last year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts expect that Corecivic Inc will post 2.31 EPS for the current fiscal year.
Several research analysts have recently commented on CXW shares. Zacks Investment Research upgraded Corecivic from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Monday, August 20th. Wells Fargo & Co set a $24.00 price objective on Corecivic and gave the company a “hold” rating in a research report on Monday. Finally, ValuEngine raised 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 issued 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 target price of $28.33.
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Corecivic Company Profile
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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