Principal Financial Group Inc. Sells 41,197 Shares of CoreCivic, Inc. (NYSE:CXW)

Principal Financial Group Inc. decreased its position in shares of CoreCivic, Inc. (NYSE:CXW) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 548,659 shares of the real estate investment trust’s stock after selling 41,197 shares during the quarter. Principal Financial Group Inc. owned approximately 0.49% of CoreCivic worth $7,122,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CXW. Teacher Retirement System of Texas grew its holdings in CoreCivic by 1,284.1% during the 4th quarter. Teacher Retirement System of Texas now owns 545,967 shares of the real estate investment trust’s stock worth $7,933,000 after acquiring an additional 506,522 shares in the last quarter. USA Financial Formulas bought a new position in shares of CoreCivic during the fourth quarter valued at approximately $69,000. Nicholas Investment Partners LP purchased a new position in CoreCivic during the fourth quarter valued at approximately $1,677,000. Dynamic Technology Lab Private Ltd raised its stake in CoreCivic by 255.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 53,429 shares of the real estate investment trust’s stock worth $776,000 after buying an additional 38,398 shares in the last quarter. Finally, Trexquant Investment LP raised its stake in CoreCivic by 173.5% in the fourth quarter. Trexquant Investment LP now owns 192,456 shares of the real estate investment trust’s stock worth $2,796,000 after buying an additional 122,096 shares in the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

CoreCivic Price Performance

NYSE CXW opened at $13.06 on Monday. CoreCivic, Inc. has a 12-month low of $9.94 and a 12-month high of $16.54. The firm’s fifty day simple moving average is $13.48 and its two-hundred day simple moving average is $14.27. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $1.45 billion, a P/E ratio of 23.32 and a beta of 0.87.

CoreCivic (NYSE:CXW) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.20). The business had revenue of $490.11 million for the quarter, compared to analyst estimates of $481.87 million. CoreCivic had a net margin of 3.50% and a return on equity of 6.10%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 earnings per share. Analysts forecast that CoreCivic, Inc. will post 1.49 EPS for the current fiscal year.

Insider Buying and Selling

In other CoreCivic news, insider David K. Churchill sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $13.61, for a total transaction of $204,150.00. Following the transaction, the insider now owns 214,056 shares in the company, valued at approximately $2,913,302.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other CoreCivic news, insider David K. Churchill sold 15,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $13.61, for a total transaction of $204,150.00. Following the sale, the insider now owns 214,056 shares in the company, valued at approximately $2,913,302.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David Garfinkle sold 25,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $13.60, for a total value of $340,000.00. Following the completion of the transaction, the chief financial officer now directly owns 326,528 shares in the company, valued at $4,440,780.80. The disclosure for this sale can be found here. Insiders sold 161,996 shares of company stock worth $2,077,000 in the last three months. Corporate insiders own 1.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CXW shares. Wedbush reiterated a “neutral” rating and issued a $14.00 price target on shares of CoreCivic in a report on Thursday, August 8th. Noble Financial lowered CoreCivic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 12th.

CoreCivic Profile

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.