Jennison Associates LLC Grows Holdings in Corrections Corp. of America (CXW)

Jennison Associates LLC raised its stake in shares of Corrections Corp. of America (NYSE:CXW) by 10.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,167,911 shares of the real estate investment trust’s stock after purchasing an additional 111,471 shares during the period. Jennison Associates LLC owned 0.99% of Corrections Corp. of America worth $31,265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Corrections Corp. of America by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,243 shares of the real estate investment trust’s stock valued at $476,000 after purchasing an additional 55 shares during the last quarter. Steinberg Global Asset Management lifted its holdings in shares of Corrections Corp. of America by 1.6% in the 2nd quarter. Steinberg Global Asset Management now owns 23,158 shares of the real estate investment trust’s stock valued at $639,000 after acquiring an additional 369 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Corrections Corp. of America by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 152,315 shares of the real estate investment trust’s stock valued at $4,201,000 after acquiring an additional 406 shares during the last quarter. Capstone Asset Management Co. lifted its holdings in shares of Corrections Corp. of America by 3.5% in the 2nd quarter. Capstone Asset Management Co. now owns 12,876 shares of the real estate investment trust’s stock valued at $355,000 after acquiring an additional 430 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Corrections Corp. of America by 11.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,266 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 452 shares during the last quarter. 84.78% of the stock is owned by institutional investors and hedge funds.

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Shares of Corrections Corp. of America (CXW) opened at $23.17 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.10 and a quick ratio of 1.10. Corrections Corp. of America has a 1 year low of $19.79 and a 1 year high of $35.33. The firm has a market cap of $2,709.24, a PE ratio of 9.20, a P/E/G ratio of 1.64 and a beta of 0.91.

Corrections Corp. of America (NYSE:CXW) last posted its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.02. Corrections Corp. of America had a net margin of 11.03% and a return on equity of 13.54%. The company had revenue of $442.80 million for the quarter, compared to analyst estimates of $437.18 million. During the same period in the prior year, the company posted $0.69 EPS. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. equities research analysts predict that Corrections Corp. of America will post 2.33 earnings per share for the current fiscal year.

In other news, CFO David Garfinkle sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $25.90, for a total transaction of $259,000.00. Following the transaction, the chief financial officer now directly owns 90,114 shares of the company’s stock, valued at $2,333,952.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thurgood Marshall, Jr. sold 2,360 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $25.90, for a total transaction of $61,124.00. Following the transaction, the director now directly owns 31,083 shares in the company, valued at $805,049.70. The disclosure for this sale can be found here. Insiders sold a total of 22,360 shares of company stock worth $580,224 over the last three months. 1.30% of the stock is currently owned by corporate insiders.

A number of research analysts recently commented on CXW shares. Zacks Investment Research raised shares of Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Friday, August 4th. TheStreet downgraded shares of Corrections Corp. of America from a “b-” rating to a “c+” rating in a report on Monday, August 21st. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $37.00 price target on shares of Corrections Corp. of America in a report on Friday, November 10th. ValuEngine downgraded shares of Corrections Corp. of America from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, Canaccord Genuity set a $36.00 price target on shares of Corrections Corp. of America and gave the company a “buy” rating in a report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Corrections Corp. of America presently has an average rating of “Hold” and an average price target of $34.25.

Corrections Corp. of America Profile

CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.

Institutional Ownership by Quarter for Corrections Corp. of America (NYSE:CXW)

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