Principal Financial Group Inc. Cuts Stake in CoreCivic, Inc. (NYSE:CXW)

Principal Financial Group Inc. lowered its stake in CoreCivic, Inc. (NYSE:CXW - Free Report) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 519,795 shares of the real estate investment trust's stock after selling 28,864 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of CoreCivic worth $6,575,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in shares of CoreCivic during the second quarter valued at $29,000. nVerses Capital LLC acquired a new position in shares of CoreCivic in the second quarter valued at about $40,000. GAMMA Investing LLC boosted its position in CoreCivic by 77.7% during the third quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust's stock worth $47,000 after purchasing an additional 1,632 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of CoreCivic in the first quarter valued at approximately $84,000. Finally, Innealta Capital LLC acquired a new stake in CoreCivic during the second quarter worth $87,000. 85.13% of the stock is owned by institutional investors.

CoreCivic Stock Performance

Shares of NYSE:CXW traded down $0.54 during trading on Wednesday, hitting $21.47. The company's stock had a trading volume of 724,845 shares, compared to its average volume of 1,002,909. The company has a 50-day moving average of $14.90 and a 200-day moving average of $14.16. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 32.84 and a beta of 0.86. CoreCivic, Inc. has a 12 month low of $10.74 and a 12 month high of $24.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.51.

Analysts Set New Price Targets

Several research firms recently weighed in on CXW. Northland Securities raised their price objective on CoreCivic from $17.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Wedbush reiterated a "neutral" rating and issued a $14.00 target price on shares of CoreCivic in a report on Friday, September 13th.

Insider Buying and Selling

In related news, Director Anne L. Mariucci sold 10,000 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the transaction, the director now directly owns 101,936 shares of the company's stock, valued at approximately $2,446,464. This represents a 8.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Garfinkle sold 50,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $24.20, for a total transaction of $1,210,000.00. Following the transaction, the chief financial officer now directly owns 276,528 shares of the company's stock, valued at $6,691,977.60. This represents a 15.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 108,000 shares of company stock worth $2,094,790 in the last quarter. 2.21% of the stock is owned by insiders.

CoreCivic Company 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.