Janney Montgomery Scott LLC raised its stake in shares of Corrections Corp. of America (NYSE:CXW) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,286 shares of the real estate investment trust’s stock after buying an additional 1,210 shares during the period. Janney Montgomery Scott LLC’s holdings in Corrections Corp. of America were worth $1,084,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CXW. Oregon Public Employees Retirement Fund raised its stake in Corrections Corp. of America by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 41,132 shares of the real estate investment trust’s stock valued at $1,292,000 after buying an additional 600 shares during the period. Russell Investments Group Ltd. raised its stake in Corrections Corp. of America by 49.7% in the first quarter. Russell Investments Group Ltd. now owns 348,542 shares of the real estate investment trust’s stock valued at $10,952,000 after buying an additional 115,727 shares during the period. ARP Americas LLC raised its stake in Corrections Corp. of America by 28.1% in the first quarter. ARP Americas LLC now owns 17,776 shares of the real estate investment trust’s stock valued at $559,000 after buying an additional 3,900 shares during the period. Glen Harbor Capital Management LLC raised its stake in Corrections Corp. of America by 3.0% in the first quarter. Glen Harbor Capital Management LLC now owns 99,568 shares of the real estate investment trust’s stock valued at $3,128,000 after buying an additional 2,928 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in Corrections Corp. of America during the first quarter valued at $70,703,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of Corrections Corp. of America (NYSE:CXW) opened at 25.99 on Friday. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 14.46 and a beta of 0.92. The company has a 50-day moving average price of $27.58 and a 200 day moving average price of $30.65. Corrections Corp. of America has a 1-year low of $12.99 and a 1-year high of $35.33.

Corrections Corp. of America (NYSE:CXW) last announced its earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.23. The business had revenue of $436.39 million for the quarter, compared to analyst estimates of $437.92 million. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. On average, equities research analysts predict that Corrections Corp. of America will post $1.54 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.68 dividend on an annualized basis and a yield of 6.46%. Corrections Corp. of America’s dividend payout ratio is currently 93.86%.

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Several analysts recently weighed in on the company. Zacks Investment Research raised Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Thursday, April 20th. Deutsche Bank AG raised their price objective on Corrections Corp. of America from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Canaccord Genuity reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Corrections Corp. of America in a research note on Wednesday, May 3rd. Finally, BidaskClub lowered Corrections Corp. of America from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Corrections Corp. of America presently has an average rating of “Hold” and a consensus price target of $30.25.

In other news, EVP Lucibeth Mayberry sold 6,236 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $30.41, for a total value of $189,636.76. Following the completion of the transaction, the executive vice president now directly owns 51,851 shares in the company, valued at approximately $1,576,788.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Anthony L. Grande sold 23,000 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $33.86, for a total value of $778,780.00. Following the completion of the transaction, the executive vice president now owns 39,510 shares of the company’s stock, valued at $1,337,808.60. The disclosure for this sale can be found here. Insiders sold a total of 34,236 shares of company stock worth $1,121,117 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

About Corrections Corp. of America

CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.

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Institutional Ownership by Quarter for Corrections Corp. of America (NYSE:CXW)

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