Sierra Summit Advisors LLC Makes New $574,000 Investment in CoreCivic, Inc. (NYSE:CXW)

Sierra Summit Advisors LLC acquired a new stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 26,398 shares of the real estate investment trust's stock, valued at approximately $574,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CXW. GAMMA Investing LLC boosted its holdings in CoreCivic by 25.5% during the fourth quarter. GAMMA Investing LLC now owns 4,686 shares of the real estate investment trust's stock worth $102,000 after buying an additional 953 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of CoreCivic by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 57,312 shares of the real estate investment trust's stock valued at $1,246,000 after purchasing an additional 1,450 shares during the period. Smartleaf Asset Management LLC lifted its position in 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 buying an additional 1,859 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of CoreCivic by 13.7% during the 3rd quarter. HighTower Advisors LLC now owns 15,549 shares of the real estate investment trust's stock valued at $205,000 after buying an additional 1,877 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of CoreCivic during the 4th quarter valued at $43,000. Institutional investors own 85.13% of the company's stock.

CoreCivic Stock Performance

Shares of NYSE:CXW traded up $0.65 during midday trading on Friday, hitting $21.51. The company's stock had a trading volume of 1,106,991 shares, compared to its average volume of 1,106,686. 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's 50 day simple moving average is $19.45 and its 200 day simple moving average is $19.23. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 35.26 and a beta of 0.86. CoreCivic, Inc. has a fifty-two week low of $10.74 and a fifty-two week high of $24.99.

CoreCivic (NYSE:CXW - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating 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, research analysts anticipate that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com raised CoreCivic from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. Wedbush reaffirmed an "outperform" rating and set a $30.00 price objective on shares of CoreCivic in a research report on Tuesday, February 11th. Finally, Noble Financial raised shares of CoreCivic from a "market perform" rating to an "outperform" rating in a research report on Wednesday, February 12th.

About CoreCivic

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.