Franklin Resources Inc. Has $459,000 Stake in CoreCivic, Inc. (NYSE:CXW)

Franklin Resources Inc. lowered its stake in CoreCivic, Inc. (NYSE:CXW) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,430 shares of the real estate investment trust’s stock after selling 805 shares during the quarter. Franklin Resources Inc.’s holdings in CoreCivic were worth $459,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its position in CoreCivic by 2.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 29,509 shares of the real estate investment trust’s stock worth $383,000 after acquiring an additional 804 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in CoreCivic by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,424 shares of the real estate investment trust’s stock valued at $745,000 after buying an additional 1,401 shares during the last quarter. GAMMA Investing LLC boosted its position in CoreCivic by 77.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,733 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 1,632 shares during the period. HighTower Advisors LLC grew its holdings in CoreCivic by 13.7% during the 3rd quarter. HighTower Advisors LLC now owns 15,549 shares of the real estate investment trust’s stock worth $205,000 after acquiring an additional 1,877 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in CoreCivic in the 2nd quarter valued at approximately $29,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.

CoreCivic Trading Up 0.7 %

CXW opened at $21.74 on Wednesday. CoreCivic, Inc. has a twelve month low of $10.74 and a twelve month high of $24.99. The company has a fifty day moving average of $20.09 and a 200-day moving average of $15.59. The stock has a market cap of $2.40 billion, a PE ratio of 32.45 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.66.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CXW shares. Northland Securities boosted their price objective on shares of CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Wedbush upgraded CoreCivic from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $19.00 to $30.00 in a research report on Tuesday, December 10th.

Insider Buying and Selling at CoreCivic

In related news, CFO David Garfinkle sold 50,000 shares of CoreCivic stock in a transaction on 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 sale, the chief financial officer now owns 276,528 shares of the company’s stock, valued at approximately $6,691,977.60. This trade represents a 15.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anne L. Mariucci sold 10,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the transaction, the director now owns 101,936 shares in the company, valued at approximately $2,446,464. The trade was a 8.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,000 shares of company stock valued at $2,389,880. 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.