Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Corecivic Inc (NYSE:CXW) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 627,898 shares of the real estate investment trust’s stock after purchasing an additional 12,200 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.53% of Corecivic worth $15,277,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in CXW. BlackRock Inc. boosted its stake in shares of Corecivic by 27.7% during the second quarter. BlackRock Inc. now owns 13,789,027 shares of the real estate investment trust’s stock valued at $329,422,000 after purchasing an additional 2,988,840 shares in the last quarter. Capital Growth Management LP acquired a new position in shares of Corecivic in the third quarter worth approximately $29,561,000. FMR LLC lifted its stake in shares of Corecivic by 15.4% in the third quarter. FMR LLC now owns 7,140,571 shares of the real estate investment trust’s stock worth $173,732,000 after acquiring an additional 950,910 shares during the period. Northern Trust Corp lifted its stake in shares of Corecivic by 57.8% in the second quarter. Northern Trust Corp now owns 1,952,332 shares of the real estate investment trust’s stock worth $46,641,000 after acquiring an additional 714,970 shares during the period. Finally, Panagora Asset Management Inc. lifted its stake in shares of Corecivic by 73.2% in the third quarter. Panagora Asset Management Inc. now owns 1,076,111 shares of the real estate investment trust’s stock worth $26,182,000 after acquiring an additional 454,650 shares during the period. 85.89% of the stock is currently owned by hedge funds and other institutional investors.
Corecivic stock opened at $22.01 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $2.60 billion, a P/E ratio of 9.79, a P/E/G ratio of 1.58 and a beta of 1.01. Corecivic Inc has a one year low of $18.61 and a one year high of $26.09.
Corecivic (NYSE:CXW) last posted its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.04). The company had revenue of $462.73 million during the quarter, compared to analyst estimates of $454.79 million. Corecivic had a return on equity of 11.64% and a net margin of 8.88%. Corecivic’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. Equities analysts predict that Corecivic Inc will post 2.31 earnings per share for the current fiscal year.
A number of equities analysts recently commented on the company. Zacks Investment Research raised Corecivic from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised Corecivic from a “strong sell” rating to a “sell” rating in a research note on Monday, November 12th.
In related news, CEO Damon T. Hininger sold 35,324 shares of Corecivic stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $25.75, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by insiders.
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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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