Geode Capital Management LLC Raises Holdings in CoreCivic, Inc. (NYSE:CXW)

Geode Capital Management LLC boosted its stake in shares of CoreCivic, Inc. (NYSE:CXW) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,570,005 shares of the real estate investment trust’s stock after buying an additional 18,410 shares during the period. Geode Capital Management LLC owned 2.33% of CoreCivic worth $32,517,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of CXW. Headlands Technologies LLC purchased a new stake in shares of CoreCivic during the 2nd quarter worth $29,000. nVerses Capital LLC purchased a new stake in shares of CoreCivic during the second quarter valued at about $40,000. GAMMA Investing LLC boosted its holdings in shares of CoreCivic by 77.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 1,632 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of CoreCivic in the 2nd quarter worth approximately $87,000. Finally, Chesapeake Capital Corp IL bought a new position in shares of CoreCivic during the 3rd quarter worth approximately $139,000. Institutional investors own 85.13% of the company’s stock.

CoreCivic Trading Up 2.3 %

Shares of CoreCivic stock opened at $21.64 on Thursday. The firm’s 50 day simple moving average is $19.31 and its two-hundred day simple moving average is $15.26. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 32.30 and a beta of 1.02. CoreCivic, Inc. has a 12-month low of $10.74 and a 12-month high of $24.99. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.66.

Insider Activity

In other CoreCivic news, EVP Cole G. Carter sold 8,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $12.58, for a total transaction of $100,640.00. Following the sale, the executive vice president now owns 207,847 shares in the company, valued at approximately $2,614,715.26. The trade was a 3.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Garfinkle sold 50,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $24.20, for a total value of $1,210,000.00. Following the completion of the transaction, the chief financial officer now directly owns 276,528 shares in the company, 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 110,000 shares of company stock valued at $2,490,520 over the last ninety days. 2.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Northland Securities increased their price objective on CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Wedbush raised CoreCivic from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $19.00 to $30.00 in a report on Tuesday, December 10th.

CoreCivic 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.