Manning & Napier Group LLC cut its holdings in shares of Corecivic Inc (NYSE:CXW) by 44.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 258,775 shares of the real estate investment trust’s stock after selling 206,100 shares during the period. Manning & Napier Group LLC owned 0.22% of Corecivic worth $6,294,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. lifted its position in Corecivic by 445.7% during the 2nd quarter. Sei Investments Co. now owns 58,145 shares of the real estate investment trust’s stock valued at $1,389,000 after purchasing an additional 47,490 shares during the period. Chartwell Investment Partners LLC lifted its position in Corecivic by 33.7% during the 2nd quarter. Chartwell Investment Partners LLC now owns 904,495 shares of the real estate investment trust’s stock valued at $21,608,000 after purchasing an additional 227,876 shares during the period. Bank of New York Mellon Corp lifted its position in Corecivic by 5.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,514,976 shares of the real estate investment trust’s stock valued at $83,973,000 after purchasing an additional 190,010 shares during the period. Boston Partners acquired a new position in Corecivic during the 2nd quarter valued at about $1,222,000. Finally, BlackRock Inc. lifted its position in Corecivic by 0.3% during the 1st quarter. BlackRock Inc. now owns 10,800,187 shares of the real estate investment trust’s stock valued at $210,820,000 after purchasing an additional 33,668 shares during the period. Institutional investors own 84.12% of the company’s stock.
CXW has been the topic of a number of analyst reports. TheStreet upgraded shares of Corecivic from a “c” rating to a “b-” rating in a research report on Monday, June 25th. Zacks Investment Research upgraded shares of Corecivic from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, June 20th. Finally, ValuEngine upgraded shares of Corecivic from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $32.67.
In related news, Director Thurgood Marshall, Jr. sold 2,100 shares of the stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $25.95, for a total transaction of $54,495.00. Following the completion of the sale, the director now directly owns 31,221 shares of the company’s stock, valued at approximately $810,184.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Damon T. Hininger sold 35,324 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $25.75, for a total value of $909,593.00. Following the sale, the chief executive officer now directly owns 260,082 shares of the company’s stock, valued at $6,697,111.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,770 shares of company stock valued at $3,208,426. 1.30% of the stock is owned by company insiders.
Shares of NYSE:CXW opened at $22.37 on Friday. The company has a market capitalization of $2.88 billion, a P/E ratio of 10.09, a PEG ratio of 1.75 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.19. Corecivic Inc has a fifty-two week low of $18.61 and a fifty-two week high of $27.50.
Corecivic (NYSE:CXW) last announced its quarterly earnings results on Wednesday, August 8th. The real estate investment trust reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Corecivic had a net margin of 8.99% and a return on equity of 11.44%. The firm had revenue of $449.93 million during the quarter, compared to analyst estimates of $435.61 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis. On average, analysts forecast that Corecivic Inc will post 2.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, September 28th. This represents a $1.72 dividend on an annualized basis and a yield of 7.69%. Corecivic’s payout ratio is 74.14%.
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, a growing network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.
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