Corrections Corp. of America (CXW) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its stake in Corrections Corp. of America (NYSE:CXW) by 133.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,300 shares of the real estate investment trust’s stock after acquiring an additional 45,400 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.07% of Corrections Corp. of America worth $2,123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Corrections Corp. of America by 2.4% in the second quarter. Vanguard Group Inc. now owns 19,273,935 shares of the real estate investment trust’s stock valued at $531,576,000 after acquiring an additional 459,903 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Corrections Corp. of America by 43.4% in the second quarter. Daiwa Securities Group Inc. now owns 3,865,032 shares of the real estate investment trust’s stock valued at $106,598,000 after acquiring an additional 1,170,205 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Corrections Corp. of America by 2.5% in the second quarter. Acadian Asset Management LLC now owns 2,306,883 shares of the real estate investment trust’s stock valued at $63,624,000 after acquiring an additional 56,639 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Corrections Corp. of America in the third quarter valued at about $34,152,000. Finally, Lee Danner & Bass Inc. lifted its stake in shares of Corrections Corp. of America by 3.1% during the 3rd quarter. Lee Danner & Bass Inc. now owns 1,216,716 shares of the real estate investment trust’s stock valued at $32,571,000 after buying an additional 36,318 shares in the last quarter. Hedge funds and other institutional investors own 84.78% of the company’s stock.

Shares of Corrections Corp. of America (NYSE:CXW) opened at $23.21 on Friday. The company has a market cap of $2,770.00, a P/E ratio of 9.20, a P/E/G ratio of 1.64 and a beta of 0.91. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.10 and a current ratio of 1.10. Corrections Corp. of America has a 52 week low of $19.97 and a 52 week high of $35.33.

Corrections Corp. of America (NYSE:CXW) last posted its earnings results 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. The business had revenue of $442.80 million for the quarter, compared to analyst estimates of $437.18 million. Corrections Corp. of America had a net margin of 11.03% and a return on equity of 13.54%. Corrections Corp. of America’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 EPS. research analysts predict that Corrections Corp. of America will post 2.33 earnings per share for the current fiscal year.

In related news, CFO David Garfinkle sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $26.01, for a total transaction of $260,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thurgood Marshall, Jr. sold 2,360 shares of the company’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 sale, the director now directly owns 31,083 shares in the company, valued at approximately $805,049.70. The disclosure for this sale can be found here. Insiders have sold a total of 22,360 shares of company stock worth $580,224 in the last ninety days. 1.30% of the stock is currently owned by insiders.

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CXW has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Corrections Corp. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. TheStreet cut shares of Corrections Corp. of America from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. BidaskClub cut shares of Corrections Corp. of America from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Canaccord Genuity set a $36.00 price target on shares of Corrections Corp. of America and gave the company a “buy” rating in a research note on Monday, August 7th. Finally, ValuEngine upgraded shares of Corrections Corp. of America from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $34.25.

About Corrections Corp. of America

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.

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

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