American Century Companies Inc. reduced its stake in Corrections Corp. of America (NYSE:CXW) by 97.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,856 shares of the real estate investment trust’s stock after selling 391,999 shares during the period. American Century Companies Inc.’s holdings in Corrections Corp. of America were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CXW. TLP Group LLC acquired a new stake in shares of Corrections Corp. of America in the 1st quarter valued at approximately $113,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Corrections Corp. of America in the 1st quarter valued at approximately $116,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in shares of Corrections Corp. of America in the 1st quarter valued at approximately $123,000. Harbour Capital Advisors LLC acquired a new stake in shares of Corrections Corp. of America in the 1st quarter valued at approximately $162,000. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Corrections Corp. of America in the 1st quarter valued at approximately $172,000. Institutional investors own 86.18% of the company’s stock.

A number of research firms have recently weighed in on CXW. BidaskClub downgraded shares of Corrections Corp. of America from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Zacks Investment Research downgraded shares of Corrections Corp. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, ValuEngine upgraded shares of Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $30.00.

In other Corrections Corp. of America news, Director Mark A. Emkes purchased 5,000 shares of Corrections Corp. of America stock in a transaction on Thursday, August 10th. The shares were acquired at an average cost of $25.62 per share, for a total transaction of $128,100.00. Following the completion of the transaction, the director now directly owns 44,426 shares of the company’s stock, valued at $1,138,194.12. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Thurgood Marshall, Jr. sold 2,360 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $25.90, for a total transaction of $61,124.00. Following the transaction, the director now owns 31,083 shares in the company, valued at $805,049.70. The disclosure for this sale can be found here. Insiders have sold 17,360 shares of company stock worth $451,474 over the last quarter. Company insiders own 1.30% of the company’s stock.

Shares of Corrections Corp. of America (NYSE CXW) opened at 25.85 on Thursday. The firm has a market capitalization of $3.05 billion, a P/E ratio of 14.39 and a beta of 0.92. Corrections Corp. of America has a 52-week low of $12.99 and a 52-week high of $35.33. The company’s 50-day moving average is $25.93 and its 200 day moving average is $29.54.

Corrections Corp. of America (NYSE:CXW) last issued its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.23. Corrections Corp. of America had a net margin of 11.62% and a return on equity of 14.54%. The business had revenue of $436.39 million for the quarter, compared to analysts’ expectations of $437.92 million. During the same period last year, the business earned $0.49 earnings per share. The business’s quarterly revenue was down 5.8% on a year-over-year basis. Analysts expect that Corrections Corp. of America will post $1.52 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date is Friday, September 29th. Corrections Corp. of America’s payout ratio is currently 93.86%.

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Corrections Corp. of America Profile

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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