Global X Management Co LLC Invests $9.75 Million in Corecivic Inc (CXW) Stock
Global X Management Co LLC bought a new stake in shares of Corecivic Inc (NYSE:CXW) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 408,255 shares of the real estate investment trust’s stock, valued at approximately $9,753,000. Global X Management Co LLC owned about 0.34% of Corecivic as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Corecivic by 27.7% during the 2nd quarter. BlackRock Inc. now owns 13,789,027 shares of the real estate investment trust’s stock valued at $329,422,000 after buying an additional 2,988,840 shares during the period. Bank of New York Mellon Corp raised its holdings 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 buying an additional 190,010 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in Corecivic by 30.7% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,459,114 shares of the real estate investment trust’s stock valued at $58,748,000 after buying an additional 577,225 shares during the period. Millennium Management LLC raised its holdings in Corecivic by 39.9% during the 1st quarter. Millennium Management LLC now owns 2,329,941 shares of the real estate investment trust’s stock valued at $45,480,000 after buying an additional 664,286 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Corecivic by 16.0% during the 2nd quarter. Renaissance Technologies LLC now owns 2,166,703 shares of the real estate investment trust’s stock valued at $51,763,000 after buying an additional 299,113 shares during the period. Hedge funds and other institutional investors own 84.12% of the company’s stock.
In other news, CFO David Garfinkle sold 5,010 shares of the firm’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $25.31, for a total transaction of $126,803.10. Following the transaction, the chief financial officer now owns 105,082 shares in the company, valued at $2,659,625.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Damon T. Hininger sold 14,027 shares of the firm’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $26.00, for a total value of $364,702.00. Following the transaction, the chief executive officer now owns 238,785 shares in the company, valued at approximately $6,208,410. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,770 shares of company stock worth $3,208,426. Insiders own 1.30% of the company’s stock.
CXW stock traded down $1.03 during midday trading on Friday, reaching $22.37. The company’s stock had a trading volume of 777,344 shares, compared to its average volume of 893,917. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 1.75 and a beta of 1.03. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.04. Corecivic Inc has a 1 year low of $18.61 and a 1 year 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 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.01). The firm had revenue of $449.93 million for the quarter, compared to analysts’ expectations of $435.61 million. Corecivic had a net margin of 8.99% and a return on equity of 11.44%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 EPS. Research analysts expect that Corecivic Inc will post 2.32 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, September 28th. This represents a $1.72 annualized dividend and a dividend yield of 7.69%. Corecivic’s dividend payout ratio is currently 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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