Wellington Management Group LLP Lowers Stake in CoreCivic, Inc. (NYSE:CXW)

Wellington Management Group LLP trimmed its holdings in CoreCivic, Inc. (NYSE:CXW) by 5.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 353,544 shares of the real estate investment trust’s stock after selling 21,157 shares during the period. Wellington Management Group LLP owned 0.31% of CoreCivic worth $5,137,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CXW. GAMMA Investing LLC purchased a new stake in CoreCivic during the 4th quarter valued at approximately $29,000. Criterion Capital Advisors LLC acquired a new stake in shares of CoreCivic during the fourth quarter worth $32,000. USA Financial Formulas purchased a new position in CoreCivic in the 4th quarter valued at $69,000. Counterpoint Mutual Funds LLC increased its stake in CoreCivic by 198.0% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 27,504 shares of the real estate investment trust’s stock valued at $400,000 after buying an additional 18,274 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in CoreCivic by 39.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,062 shares of the real estate investment trust’s stock worth $484,000 after buying an additional 12,085 shares during the last quarter. Institutional investors and hedge funds own 85.13% of the company’s stock.

CoreCivic Trading Up 6.0 %

Shares of CXW opened at $12.98 on Friday. The firm’s 50-day moving average is $14.33 and its two-hundred day moving average is $14.56. CoreCivic, Inc. has a twelve month low of $9.06 and a twelve month high of $16.54. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $1.44 billion, a P/E ratio of 23.18 and a beta of 0.87.

CoreCivic (NYSE:CXW) last released its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.12). The firm had revenue of $500.69 million during the quarter, compared to analysts’ expectations of $477.93 million. CoreCivic had a net margin of 3.34% and a return on equity of 5.74%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 earnings per share. On average, research analysts predict that CoreCivic, Inc. will post 1.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CXW. Noble Financial downgraded shares of CoreCivic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 12th. Northland Securities increased their target price on CoreCivic from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. StockNews.com downgraded CoreCivic from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Wedbush lowered CoreCivic from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $19.00 to $14.00 in a report on Tuesday, June 11th.

Insider Buying and Selling at CoreCivic

In other CoreCivic news, EVP Anthony L. Grande sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $15.51, for a total value of $232,650.00. Following the sale, the executive vice president now owns 168,380 shares of the company’s stock, valued at $2,611,573.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Anthony L. Grande sold 15,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $15.51, for a total value of $232,650.00. Following the completion of the transaction, the executive vice president now directly owns 168,380 shares of the company’s stock, valued at $2,611,573.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO David Garfinkle sold 19,900 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $15.18, for a total value of $302,082.00. Following the completion of the sale, the chief financial officer now owns 361,628 shares in the company, valued at $5,489,513.04. The disclosure for this sale can be found here. 1.89% of the stock is currently owned by insiders.

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.