KCM Capital Inc Makes New $10.40 Million Investment in CoreCivic, Inc. $CXW

KCM Capital Inc purchased a new position in shares of CoreCivic, Inc. (NYSE:CXW) during the 1st quarter, HoldingsChannel reports. The firm purchased 550,000 shares of the real estate investment trust’s stock, valued at approximately $10,400,000. CoreCivic accounts for about 1.7% of KCM Capital Inc’s holdings, making the stock its 18th largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of CoreCivic by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust’s stock valued at $242,955,000 after purchasing an additional 138,846 shares during the last quarter. River Road Asset Management LLC boosted its holdings in CoreCivic by 3.3% in the fourth quarter. River Road Asset Management LLC now owns 8,978,240 shares of the real estate investment trust’s stock worth $171,574,000 after purchasing an additional 287,108 shares in the last quarter. Lee Danner & Bass Inc. increased its position in CoreCivic by 273.1% during the first quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust’s stock worth $41,101,000 after buying an additional 1,590,940 shares during the last quarter. Rubric Capital Management LP increased its position in CoreCivic by 140.6% during the third quarter. Rubric Capital Management LP now owns 1,961,446 shares of the real estate investment trust’s stock worth $39,915,000 after buying an additional 1,146,166 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in CoreCivic by 361.3% during the second quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust’s stock valued at $26,562,000 after buying an additional 987,375 shares in the last quarter. Institutional investors own 85.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CXW shares. Benchmark boosted their price target on CoreCivic from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Weiss Ratings raised CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Wall Street Zen downgraded CoreCivic from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. UBS Group set a $35.00 target price on CoreCivic in a report on Tuesday, July 7th. Finally, Noble Financial upped their target price on CoreCivic from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $36.20.

CoreCivic Stock Performance

NYSE:CXW opened at $32.19 on Thursday. The firm has a market capitalization of $3.18 billion, a PE ratio of 26.17 and a beta of 0.57. CoreCivic, Inc. has a 1 year low of $15.73 and a 1 year high of $32.69. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.99. The firm’s fifty day simple moving average is $26.90 and its 200 day simple moving average is $21.98.

CoreCivic Profile

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.