Connor Clark & Lunn Investment Management Ltd. Invests $2.86 Million in CoreCivic, Inc. (NYSE:CXW)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of CoreCivic, Inc. (NYSE:CXW) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 131,495 shares of the real estate investment trust’s stock, valued at approximately $2,859,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.12% of CoreCivic as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CXW. Smartleaf Asset Management LLC lifted its stake in CoreCivic by 318.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,442 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 1,859 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of CoreCivic by 25.5% during the fourth quarter. GAMMA Investing LLC now owns 4,686 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 953 shares during the period. KBC Group NV lifted its position in shares of CoreCivic by 57.3% in the 4th quarter. KBC Group NV now owns 5,477 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 1,995 shares in the last quarter. Chesapeake Capital Corp IL acquired a new position in CoreCivic in the 3rd quarter worth approximately $139,000. Finally, Tidal Investments LLC purchased a new position in CoreCivic during the 3rd quarter worth approximately $139,000. 85.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CXW has been the subject of several recent analyst reports. Wedbush reiterated an “outperform” rating and set a $30.00 price target on shares of CoreCivic in a report on Tuesday, February 11th. StockNews.com upgraded CoreCivic from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Finally, Noble Financial upgraded CoreCivic from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 12th.

CoreCivic Price Performance

CXW opened at $20.03 on Tuesday. The stock has a fifty day moving average price of $20.10 and a 200 day moving average price of $18.21. 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 stock has a market cap of $2.18 billion, a price-to-earnings ratio of 32.83 and a beta of 1.02.

CoreCivic (NYSE:CXW) last released its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. CoreCivic had a return on equity of 5.97% and a net margin of 3.51%. Analysts forecast that CoreCivic, Inc. will post 1.5 EPS for the current fiscal year.

CoreCivic Company 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.