Y Intercept Hong Kong Ltd Increases Stake in CoreCivic, Inc. $CXW

Y Intercept Hong Kong Ltd lifted its position in CoreCivic, Inc. (NYSE:CXW) by 126.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 173,354 shares of the real estate investment trust’s stock after buying an additional 96,750 shares during the period. Y Intercept Hong Kong Ltd’s holdings in CoreCivic were worth $3,528,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. purchased a new position in shares of CoreCivic in the second quarter worth $25,000. Covestor Ltd raised its holdings in shares of CoreCivic by 31,516.7% during the third quarter. Covestor Ltd now owns 1,897 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,891 shares during the last quarter. CWM LLC boosted its holdings in CoreCivic by 80.1% in the second quarter. CWM LLC now owns 2,186 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 972 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in CoreCivic by 33.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 702 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of CoreCivic by 9.9% in the 2nd quarter. GAMMA Investing LLC now owns 5,667 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 511 shares during the last quarter. 85.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

CoreCivic Stock Down 6.6%

Shares of CXW stock opened at $18.75 on Tuesday. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 18.94 and a beta of 0.69. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The company’s fifty day moving average price is $18.91 and its 200-day moving average price is $19.42. CoreCivic, Inc. has a one year low of $15.95 and a one year high of $23.54.

CoreCivic (NYSE:CXW) last released its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. CoreCivic had a return on equity of 7.38% and a net margin of 5.24%.The firm had revenue of $580.44 million during the quarter, compared to analyst estimates of $544.38 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. CoreCivic has set its FY 2025 guidance at 1.940-2.000 EPS. Sell-side analysts expect that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

CoreCivic declared that its board has authorized a stock buyback plan on Monday, November 10th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 10.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

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.