SG Americas Securities LLC Buys 216,101 Shares of CoreCivic, Inc. $CXW

SG Americas Securities LLC raised its position in shares of CoreCivic, Inc. (NYSE:CXW) by 1,602.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 229,584 shares of the real estate investment trust’s stock after acquiring an additional 216,101 shares during the quarter. SG Americas Securities LLC owned approximately 0.21% of CoreCivic worth $4,672,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CXW. GAMMA Investing LLC raised its position in shares of CoreCivic by 9.9% in the 2nd quarter. GAMMA Investing LLC now owns 5,667 shares of the real estate investment trust’s stock worth $119,000 after acquiring an additional 511 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of CoreCivic by 33.0% during the second quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 702 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in CoreCivic by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 121,147 shares of the real estate investment trust’s stock worth $2,553,000 after purchasing an additional 709 shares during the period. CWM LLC grew its stake in CoreCivic by 80.1% in the second quarter. CWM LLC now owns 2,186 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 972 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in CoreCivic by 10.4% in the second quarter. Lazard Asset Management LLC now owns 10,595 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 1,002 shares in the last quarter. 85.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wall Street Zen cut shares of CoreCivic from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Jones Trading reissued a “buy” rating and set a $30.00 price target on shares of CoreCivic in a research report on Friday, November 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of CoreCivic in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.00.

CoreCivic Price Performance

Shares of NYSE:CXW opened at $20.28 on Friday. The business has a fifty day moving average price of $18.36 and a 200-day moving average price of $19.54. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market capitalization of $2.12 billion, a PE ratio of 20.48 and a beta of 0.69. CoreCivic, Inc. has a 1-year low of $15.95 and a 1-year high of $23.85.

CoreCivic (NYSE:CXW) last announced its quarterly earnings results on Wednesday, November 5th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.48. CoreCivic had a net margin of 5.24% and a return on equity of 7.38%. The company had revenue of $580.44 million for the quarter, compared to analysts’ expectations of $544.38 million. During the same quarter in the previous year, the business posted $0.43 EPS. CoreCivic’s revenue was up 18.1% compared to the same quarter last year. CoreCivic has set its FY 2025 guidance at 1.940-2.000 EPS. As a group, equities analysts expect that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

CoreCivic announced that its Board of Directors has authorized a stock buyback plan on Monday, November 10th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 10.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

CoreCivic Company Profile

CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.