Integrated Quantitative Investments LLC Buys Shares of 52,659 CoreCivic, Inc. $CXW

Integrated Quantitative Investments LLC purchased a new stake in CoreCivic, Inc. (NYSE:CXW) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 52,659 shares of the real estate investment trust’s stock, valued at approximately $1,072,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CXW. Victory Capital Management Inc. increased its stake in CoreCivic by 153.0% in the 3rd quarter. Victory Capital Management Inc. now owns 324,732 shares of the real estate investment trust’s stock worth $6,608,000 after acquiring an additional 196,396 shares during the last quarter. Turiya Advisors Asia Ltd bought a new position in shares of CoreCivic in the third quarter worth approximately $9,748,000. Counterpoint Mutual Funds LLC increased its position in shares of CoreCivic by 442.6% in the third quarter. Counterpoint Mutual Funds LLC now owns 106,895 shares of the real estate investment trust’s stock worth $2,175,000 after purchasing an additional 87,194 shares during the last quarter. AXQ Capital LP purchased a new stake in CoreCivic in the third quarter valued at approximately $214,000. Finally, Vestmark Advisory Solutions Inc. bought a new stake in CoreCivic during the third quarter valued at approximately $221,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JonesTrading restated a “buy” rating and set a $30.00 price objective on shares of CoreCivic in a research report on Friday, February 13th. Wall Street Zen downgraded CoreCivic from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, CoreCivic presently has an average rating of “Moderate Buy” and an average target price of $34.00.

CoreCivic Stock Performance

NYSE:CXW opened at $18.46 on Thursday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.86. The firm’s fifty day simple moving average is $18.85 and its 200 day simple moving average is $19.00. The stock has a market cap of $1.80 billion, a P/E ratio of 17.09 and a beta of 0.72. CoreCivic, Inc. has a twelve month low of $15.73 and a twelve month high of $23.54.

CoreCivic (NYSE:CXW) last released its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.16). The company had revenue of $603.95 million during the quarter, compared to the consensus estimate of $585.12 million. CoreCivic had a return on equity of 8.17% and a net margin of 5.27%.CoreCivic’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. As a group, research analysts predict that CoreCivic, Inc. will post 1.5 EPS for the current year.

CoreCivic declared that its Board of Directors has authorized a share buyback program on Monday, November 10th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 10.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board 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.