November 30, 2016 - By Pete Kolinski · 0 Comments
Corrections Corp Of America (NYSE:CXW) institutional sentiment decreased to 0.89 in Q2 2016. Its down -0.53, from 1.42 in 2016Q1. The ratio worsened, as 148 institutional investors started new or increased positions, while 104 sold and trimmed holdings in Corrections Corp Of America. The institutional investors in our partner’s database now possess: 105.78 million shares, down from 106.47 million shares in 2016Q1. Also, the number of institutional investors holding Corrections Corp Of America in their top 10 positions increased from 3 to 6 for an increase of 3. Sold All: 20 Reduced: 84 Increased: 111 New Position: 37.
CoreCivic, Inc., formerly Corrections Corporation of America, is a real estate investment trust . The company has a market cap of $2.62 billion. The Firm is a diversified government solutions company. It has a 12.65 P/E ratio. The Firm acts to site, design, build, finance, own, maintain and lease assets to government partners.
About 870,511 shares traded hands. Corecivic Inc (NYSE:CXW) has declined 28.58% since April 27, 2016 and is downtrending. It has underperformed by 33.80% the S&P500.
Analysts await Corecivic Inc (NYSE:CXW) to report earnings on February, 8. They expect $0.62 earnings per share, up 6.90% or $0.04 from last year’s $0.58 per share. CXW’s profit will be $72.81M for 9.00 P/E if the $0.62 EPS becomes a reality. After $0.67 actual earnings per share reported by Corecivic Inc for the previous quarter, Wall Street now forecasts -7.46% negative EPS growth.
According to Zacks Investment Research, “CoreCivic, Inc. is a real estate investment trust which provides correctional, detention and residential reentry facilities. It designs, constructs, owns, manages and renovates jails, prisons, government agencies and inmate transportation companies. CoreCivic, Inc., formerly known as Corrections Corporation of America, is based in Nashville, Tennessee.”
Lee Danner & Bass Inc holds 3.73% of its portfolio in Corecivic Inc for 879,861 shares. New South Capital Management Inc owns 3.63 million shares or 3.14% of their US portfolio. Moreover, Reinhart Partners Inc. has 2.84% invested in the company for 810,456 shares. The Ontario – Canada-based Independent Order Of Foresters has invested 2.76% in the stock. Breton Hill Capital Ltd., a Ontario – Canada-based fund reported 241,210 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 7 insider purchases, and 0 insider sales for $671,783 net activity.
Ratings analysis reveals 33% of Corrections Corp’s analysts are positive. Out of 3 Wall Street analysts rating Corrections Corp, 1 give it “Buy”, 0 “Sell” rating, while 2 recommend “Hold”. The lowest target is $17 while the high is $33. The stock’s average target of $20.67 is -7.35% below today’s ($22.31) share price. CXW was included in 10 notes of analysts from November 6, 2015. The stock of Corecivic Inc (NYSE:CXW) has “Hold” rating given on Tuesday, March 22 by Canaccord Genuity. The rating was maintained by Canaccord Genuity with “Hold” on Friday, August 5. The firm earned “Neutral” rating on Thursday, September 1 by Suntrust Robinson. The rating was upgraded by SunTrust on Wednesday, October 12 to “Buy”. Suntrust Robinson downgraded the shares of CXW in a report on Friday, July 1 to “Neutral” rating. The rating was maintained by SunTrust on Thursday, September 1 with “Neutral”. The stock has “Hold” rating given by Canaccord Genuity on Thursday, October 20. Canaccord Genuity maintained Corecivic Inc (NYSE:CXW) on Wednesday, August 24 with “Hold” rating. The stock of Corecivic Inc (NYSE:CXW) has “Hold” rating given on Friday, November 6 by Canaccord Genuity. The rating was maintained by Canaccord Genuity with “Hold” on Friday, November 11.
Corrections Corporation of America, incorporated on September 24, 1998, is a real estate investment trust (REIT). The Firm is engaged in owning, operating and managing prisons and other correctional facilities, and providing residential, community re-entry and prisoner transportation services for governmental agencies. In addition to providing fundamental residential services, the Company’s facilities offer a range of rehabilitation and educational programs, including basic education, faith services, life skills and employment training, and substance abuse treatment. It also provides or makes available to offenders certain healthcare (including medical, dental and mental health services), food services and work and recreational programs. The Company’s clients consist of federal, state and local correctional and detention authorities. Federal correctional and detention authorities consist of the Federal Bureau of Prisons (the BOP), the United States Marshals Service (the USMS), and the United States Immigration and Customs Enforcement (ICE). The Company’s customer contracts have terms of three to five years and contain multiple renewal options. Most of its facility contracts also contain clauses that allow the government agency to terminate the contract at any time without cause.
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By Pete Kolinski