Lee Danner & Bass Inc. Boosts Stock Position in CoreCivic, Inc. $CXW

Lee Danner & Bass Inc. grew its position in shares of CoreCivic, Inc. (NYSE:CXW) by 9.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 485,145 shares of the real estate investment trust’s stock after purchasing an additional 40,039 shares during the quarter. Lee Danner & Bass Inc.’s holdings in CoreCivic were worth $9,873,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Formidable Asset Management LLC bought a new position in CoreCivic during the third quarter valued at approximately $396,000. Washington Capital Management Inc. bought a new stake in shares of CoreCivic in the 3rd quarter worth approximately $322,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of CoreCivic in the 3rd quarter valued at $480,000. SG Americas Securities LLC grew its holdings in shares of CoreCivic by 1,602.8% during the 3rd quarter. SG Americas Securities LLC now owns 229,584 shares of the real estate investment trust’s stock valued at $4,672,000 after purchasing an additional 216,101 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in CoreCivic in the 3rd quarter worth $1,195,000. 85.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CXW has been the subject of several analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of CoreCivic in a research report on Wednesday, October 8th. Wall Street Zen lowered CoreCivic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Jones Trading restated a “buy” rating and set a $30.00 price target on shares of CoreCivic in a research report on Friday, November 7th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, CoreCivic currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

CoreCivic Stock Performance

Shares of NYSE:CXW opened at $20.02 on Tuesday. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 20.22 and a beta of 0.69. The company has a 50-day moving average price of $18.62 and a 200-day moving average price of $19.50. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. CoreCivic, Inc. has a 12 month low of $15.95 and a 12 month high of $23.85.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, November 5th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. CoreCivic had a return on equity of 7.38% and a net margin of 5.24%.The company had revenue of $580.44 million for the quarter, compared to analysts’ expectations of $544.38 million. During the same period last year, the firm earned $0.43 earnings per share. CoreCivic’s quarterly revenue was up 18.1% on a year-over-year basis. CoreCivic has set its FY 2025 guidance at 1.940-2.000 EPS. As a group, equities analysts anticipate that CoreCivic, Inc. will post 1.5 EPS for the current year.

CoreCivic announced that its Board of Directors has approved a share repurchase program on Monday, November 10th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the real estate investment trust to buy up to 10.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

About CoreCivic

CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.