abrdn plc Cuts Position in CoreCivic, Inc. (NYSE:CXW)

abrdn plc decreased its holdings in CoreCivic, Inc. (NYSE:CXW) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 658,500 shares of the real estate investment trust’s stock after selling 13,700 shares during the quarter. abrdn plc owned about 0.58% of CoreCivic worth $9,568,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System purchased a new position in shares of CoreCivic in the fourth quarter valued at $825,000. Wellington Management Group LLP increased its position in shares of CoreCivic by 45.1% in the third quarter. Wellington Management Group LLP now owns 374,701 shares of the real estate investment trust’s stock valued at $4,215,000 after buying an additional 116,542 shares in the last quarter. AWH Capital L.P. increased its position in shares of CoreCivic by 88.7% in the third quarter. AWH Capital L.P. now owns 425,500 shares of the real estate investment trust’s stock valued at $4,787,000 after buying an additional 200,000 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of CoreCivic in the third quarter valued at $792,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of CoreCivic in the third quarter valued at $512,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CXW shares. StockNews.com upgraded CoreCivic from a “hold” rating to a “buy” rating in a research report on Wednesday, April 17th. Northland Securities increased their price objective on CoreCivic from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Finally, Wedbush increased their price objective on CoreCivic from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, April 8th.

CoreCivic Stock Up 0.6 %

Shares of NYSE:CXW opened at $15.06 on Friday. The stock’s 50-day moving average price is $15.08 and its two-hundred day moving average price is $14.19. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.73. CoreCivic, Inc. has a 12-month low of $7.84 and a 12-month high of $16.24. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 25.53 and a beta of 0.81.

CoreCivic (NYSE:CXW) last released its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.17). The firm had revenue of $491.25 million during the quarter, compared to analyst estimates of $489.62 million. CoreCivic had a net margin of 3.56% and a return on equity of 4.70%. On average, research analysts forecast that CoreCivic, Inc. will post 1.31 EPS for the current year.

Insider Activity

In other news, EVP Anthony L. Grande sold 15,000 shares of CoreCivic stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $14.50, for a total value of $217,500.00. Following the transaction, the executive vice president now directly owns 186,692 shares of the company’s stock, valued at approximately $2,707,034. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Anthony L. Grande sold 15,000 shares of CoreCivic stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $14.50, for a total value of $217,500.00. Following the transaction, the executive vice president now directly owns 186,692 shares of the company’s stock, valued at approximately $2,707,034. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Damon T. Hininger sold 50,525 shares of CoreCivic stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $14.62, for a total value of $738,675.50. Following the completion of the transaction, the chief executive officer now directly owns 820,262 shares in the company, valued at $11,992,230.44. The disclosure for this sale can be found here. Corporate insiders own 1.89% of the company’s stock.

CoreCivic Company Profile

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.