Connor Clark & Lunn Investment Management Ltd. Acquires New Holdings in CoreCivic, Inc. (NYSE:CXW)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of CoreCivic, Inc. (NYSE:CXW) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 131,495 shares of the real estate investment trust’s stock, valued at approximately $2,859,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of CoreCivic by 47.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 193,459 shares of the real estate investment trust’s stock worth $2,447,000 after buying an additional 62,022 shares during the period. Barclays PLC boosted its holdings in CoreCivic by 312.4% during the third quarter. Barclays PLC now owns 184,332 shares of the real estate investment trust’s stock valued at $2,331,000 after acquiring an additional 139,631 shares during the period. Allianz Asset Management GmbH grew its position in shares of CoreCivic by 11.4% in the fourth quarter. Allianz Asset Management GmbH now owns 1,513,031 shares of the real estate investment trust’s stock valued at $32,893,000 after purchasing an additional 154,426 shares during the last quarter. Empowered Funds LLC bought a new position in shares of CoreCivic in the fourth quarter worth about $1,477,000. Finally, Algert Global LLC lifted its position in shares of CoreCivic by 348.2% during the 3rd quarter. Algert Global LLC now owns 50,883 shares of the real estate investment trust’s stock worth $644,000 after purchasing an additional 39,530 shares during the last quarter. Institutional investors and hedge funds own 85.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CXW. Noble Financial upgraded CoreCivic from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and set a $30.00 target price on shares of CoreCivic in a research note on Tuesday, February 11th. Finally, StockNews.com upgraded shares of CoreCivic from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th.

CoreCivic Price Performance

Shares of NYSE:CXW opened at $20.03 on Tuesday. The firm has a market capitalization of $2.18 billion, a PE ratio of 32.83 and a beta of 1.02. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 0.65. CoreCivic, Inc. has a 1-year low of $10.74 and a 1-year high of $24.99. The business’s 50 day moving average is $20.10 and its 200-day moving average is $18.21.

CoreCivic (NYSE:CXW) last posted its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. CoreCivic had a net margin of 3.51% and a return on equity of 5.97%. Sell-side analysts predict that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

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.