Crescent Grove Advisors LLC purchased a new position in shares of Corrections Corp. of America (NYSE:CXW) during the second quarter, Holdings Channel reports. The institutional investor purchased 11,000 shares of the real estate investment trust’s stock, valued at approximately $306,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CXW. TLP Group LLC bought a new position in Corrections Corp. of America during the first quarter worth approximately $113,000. Oppenheimer Asset Management Inc. bought a new position in Corrections Corp. of America during the first quarter worth approximately $116,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in Corrections Corp. of America during the first quarter worth approximately $123,000. Harvest Fund Management Co. Ltd bought a new position in Corrections Corp. of America during the first quarter worth approximately $126,000. Finally, Harbour Capital Advisors LLC bought a new position in Corrections Corp. of America during the first quarter worth approximately $162,000. 89.46% of the stock is owned by institutional investors and hedge funds.

Corrections Corp. of America (CXW) opened at 25.99 on Friday. The firm has a 50-day moving average price of $27.58 and a 200-day moving average price of $30.65. The company has a market cap of $3.07 billion, a PE ratio of 14.46 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.

Corrections Corp. of America (NYSE:CXW) last released its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.23. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. The firm had revenue of $436.39 million for the quarter, compared to analysts’ expectations of $437.92 million. During the same quarter last year, the firm posted $0.49 EPS. The company’s revenue was down 5.8% compared to the same quarter last year. On average, analysts forecast that Corrections Corp. of America will post $1.54 EPS for the current 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 issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.68 annualized dividend and a dividend yield of 6.46%. Corrections Corp. of America’s payout ratio is currently 93.86%.

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A number of research analysts recently commented on CXW shares. ValuEngine raised Corrections Corp. of America from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Canaccord Genuity set a $36.00 target price on Corrections Corp. of America and gave the company a “buy” rating in a research report on Friday, May 19th. Deutsche Bank AG lifted their target price on Corrections Corp. of America from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Finally, Zacks Investment Research upgraded Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Corrections Corp. of America has an average rating of “Hold” and a consensus target price of $30.25.

In other Corrections Corp. of America news, EVP Anthony L. Grande sold 23,000 shares of the firm’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 sale, the executive vice president now owns 39,510 shares of the company’s stock, valued at approximately $1,337,808.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lucibeth Mayberry sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $30.54, for a total value of $152,700.00. Following the completion of the sale, the executive vice president now directly owns 45,615 shares in the company, valued at approximately $1,393,082.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,236 shares of company stock worth $1,121,117. Insiders own 1.30% of the company’s stock.

Corrections Corp. of America Company 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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