Fortitude Advisory Group L.L.C. Has $358,000 Position in CoreCivic, Inc. $CXW

Fortitude Advisory Group L.L.C. lifted its stake in CoreCivic, Inc. (NYSE:CXW) by 21.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,000 shares of the real estate investment trust’s stock after purchasing an additional 3,000 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in CoreCivic were worth $358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CXW. GAMMA Investing LLC increased its holdings in shares of CoreCivic by 10.0% in the first quarter. GAMMA Investing LLC now owns 5,156 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 470 shares in the last quarter. Harbour Investments Inc. grew its holdings in CoreCivic by 215.6% during the 1st quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust’s stock worth $108,000 after acquiring an additional 3,646 shares during the period. Harvest Fund Management Co. Ltd grew its holdings in CoreCivic by 29.6% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 9,250 shares of the real estate investment trust’s stock worth $187,000 after acquiring an additional 2,113 shares during the period. SCS Capital Management LLC acquired a new stake in CoreCivic during the 1st quarter worth $203,000. Finally, Natixis Advisors LLC grew its holdings in CoreCivic by 63.1% during the 1st quarter. Natixis Advisors LLC now owns 16,461 shares of the real estate investment trust’s stock worth $334,000 after acquiring an additional 6,369 shares during the period. Institutional investors and hedge funds own 85.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CXW shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CoreCivic in a report on Saturday, September 27th. Wall Street Zen raised shares of CoreCivic from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 9th. Wedbush reaffirmed an “outperform” rating and set a $38.00 target price on shares of CoreCivic in a report on Wednesday, June 11th. Finally, Jones Trading reaffirmed a “buy” rating and set a $30.00 target price on shares of CoreCivic in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

Insider Buying and Selling at CoreCivic

In related news, Director Thurgood Marshall, Jr. sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $20.52, for a total value of $123,120.00. Following the sale, the director directly owned 44,023 shares of the company’s stock, valued at approximately $903,351.96. The trade was a 11.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Anthony L. Grande sold 22,500 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $21.18, for a total transaction of $476,550.00. Following the completion of the sale, the executive vice president directly owned 135,559 shares in the company, valued at $2,871,139.62. This represents a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,000 shares of company stock worth $1,042,545 over the last ninety days. 2.30% of the stock is currently owned by insiders.

CoreCivic Trading Up 1.7%

Shares of NYSE CXW opened at $19.81 on Friday. The company’s fifty day moving average is $20.46 and its 200-day moving average is $21.05. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 21.07 and a beta of 0.75. CoreCivic, Inc. has a twelve month low of $12.33 and a twelve month high of $24.99. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.68.

CoreCivic (NYSE:CXW) last announced its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. The company had revenue of $538.17 million for the quarter, compared to analysts’ expectations of $499.02 million. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. Equities research analysts predict that CoreCivic, Inc. will post 1.5 EPS for the current year.

CoreCivic Profile

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions.