Riverhead Capital Management LLC Boosts Stake in CoreCivic (CXW)

Riverhead Capital Management LLC lifted its position in CoreCivic (NYSE:CXW) by 58.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 126,204 shares of the real estate investment trust’s stock after buying an additional 46,740 shares during the period. Riverhead Capital Management LLC owned approximately 0.11% of CoreCivic worth $2,464,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its position in shares of CoreCivic by 12.7% during the fourth quarter. State of Alaska Department of Revenue now owns 74,085 shares of the real estate investment trust’s stock worth $1,666,000 after purchasing an additional 8,335 shares during the period. Ranger Global Real Estate Advisors LLC raised its position in shares of CoreCivic by 27.5% during the fourth quarter. Ranger Global Real Estate Advisors LLC now owns 695,964 shares of the real estate investment trust’s stock worth $15,659,000 after purchasing an additional 149,900 shares during the period. MetLife Investment Advisors LLC acquired a new stake in shares of CoreCivic during the fourth quarter worth $1,683,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of CoreCivic during the fourth quarter worth $13,036,000. Finally, Teacher Retirement System of Texas raised its position in shares of CoreCivic by 315.7% during the fourth quarter. Teacher Retirement System of Texas now owns 40,605 shares of the real estate investment trust’s stock worth $914,000 after purchasing an additional 30,836 shares during the period. 80.95% of the stock is currently owned by institutional investors.

Get CoreCivic alerts:

CXW has been the topic of a number of recent analyst reports. Zacks Investment Research lowered CoreCivic from a “hold” rating to a “sell” rating in a research report on Tuesday, February 13th. Deutsche Bank cut their target price on CoreCivic from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Finally, ValuEngine lowered CoreCivic from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $32.25.

In other CoreCivic news, Director Mark A. Emkes purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The shares were purchased at an average cost of $21.17 per share, with a total value of $105,850.00. Following the completion of the transaction, the director now owns 56,488 shares of the company’s stock, valued at $1,195,850.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

Shares of CoreCivic opened at $20.65 on Friday, MarketBeat Ratings reports. The firm has a market cap of $2.43 billion, a PE ratio of 9.22, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.01. CoreCivic has a 12-month low of $18.61 and a 12-month high of $32.25.

CoreCivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.15). The business had revenue of $440.58 million for the quarter, compared to analyst estimates of $429.88 million. CoreCivic had a net margin of 9.41% and a return on equity of 11.80%. equities research analysts predict that CoreCivic will post 2.26 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Monday, July 2nd will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 8.33%. The ex-dividend date is Friday, June 29th. CoreCivic’s payout ratio is 74.14%.

About CoreCivic

The Company is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, government real estate solutions, and a growing network of residential reentry centers to help address America's recidivism crisis.

Want to see what other hedge funds are holding CXW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CoreCivic (NYSE:CXW).

Institutional Ownership by Quarter for CoreCivic (NYSE:CXW)