Forest Avenue Capital Management LP purchased a new stake in CoreCivic, Inc. (NYSE:CXW - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 515,400 shares of the real estate investment trust's stock, valued at approximately $11,205,000. CoreCivic comprises 1.0% of Forest Avenue Capital Management LP's investment portfolio, making the stock its 21st largest position. Forest Avenue Capital Management LP owned about 0.47% of CoreCivic at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Meeder Asset Management Inc. bought a new position in CoreCivic in the 4th quarter valued at about $43,000. Smartleaf Asset Management LLC grew its holdings in shares of CoreCivic by 318.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust's stock worth $53,000 after acquiring an additional 1,859 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of CoreCivic by 86,300.0% during the fourth quarter. Russell Investments Group Ltd. now owns 4,320 shares of the real estate investment trust's stock worth $94,000 after purchasing an additional 4,315 shares during the period. GAMMA Investing LLC boosted its position in shares of CoreCivic by 25.5% in the 4th quarter. GAMMA Investing LLC now owns 4,686 shares of the real estate investment trust's stock valued at $102,000 after purchasing an additional 953 shares during the period. Finally, KBC Group NV raised its holdings in shares of CoreCivic by 57.3% during the fourth quarter. KBC Group NV now owns 5,477 shares of the real estate investment trust's stock valued at $119,000 after acquiring an additional 1,995 shares during the period. Institutional investors own 85.13% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on CXW shares. Wedbush restated an "outperform" rating and issued a $30.00 target price on shares of CoreCivic in a research note on Tuesday, February 11th. StockNews.com raised CoreCivic from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. Finally, Noble Financial raised CoreCivic from a "market perform" rating to an "outperform" rating in a report on Wednesday, February 12th.
Check Out Our Latest Research Report on CoreCivic
CoreCivic Trading Up 1.0 %
CXW traded up $0.22 during midday trading on Friday, reaching $22.17. 705,861 shares of the company were exchanged, compared to its average volume of 1,114,423. CoreCivic, Inc. has a one year low of $10.74 and a one year high of $24.99. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.51 and a current ratio of 1.57. The stock has a market capitalization of $2.42 billion, a P/E ratio of 36.34 and a beta of 0.86. The stock's 50-day simple moving average is $19.70 and its 200 day simple moving average is $19.44.
CoreCivic (NYSE:CXW - Get Free Report) last announced its earnings results on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.06. CoreCivic had a net margin of 3.51% and a return on equity of 5.97%. As a group, analysts forecast that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.
About CoreCivic
(
Free Report)
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.
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