New Jersey Better Educational Savings Trust purchased a new stake in shares of Corrections Corp. of America (NYSE:CXW) during the second quarter, Holdings Channel reports. The fund purchased 12,000 shares of the real estate investment trust’s stock, valued at approximately $331,000.

A number of other hedge funds also recently added to or reduced their stakes in CXW. TLP Group LLC bought a new stake in Corrections Corp. of America during the first quarter valued at $113,000. Oppenheimer Asset Management Inc. bought a new stake in Corrections Corp. of America during the first quarter valued at $116,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in Corrections Corp. of America during the first quarter valued at $123,000. Harvest Fund Management Co. Ltd bought a new stake in Corrections Corp. of America during the first quarter valued at $126,000. Finally, Harbour Capital Advisors LLC bought a new stake in Corrections Corp. of America during the first quarter valued at $162,000. Institutional investors and hedge funds own 89.46% of the company’s stock.

Corrections Corp. of America (NYSE CXW) opened at 25.99 on Friday. Corrections Corp. of America has a 12 month low of $12.99 and a 12 month high of $35.33. The firm’s 50-day moving average price is $27.58 and its 200 day moving average price is $30.65. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 14.46 and a beta of 0.92.

Corrections Corp. of America (NYSE:CXW) last announced its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.23. The company had revenue of $436.39 million for the quarter, compared to the consensus estimate of $437.92 million. Corrections Corp. of America had a return on equity of 14.54% and a net margin of 11.62%. Corrections Corp. of America’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 EPS. On average, analysts anticipate that Corrections Corp. of America will post $1.54 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.46%. The ex-dividend date is Friday, September 29th. Corrections Corp. of America’s dividend payout ratio (DPR) is presently 93.86%.

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CXW has been the topic of several recent analyst reports. ValuEngine upgraded shares of Corrections Corp. of America from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. 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 Friday, May 19th. Deutsche Bank AG raised their price objective on Corrections Corp. of America from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Finally, Zacks Investment Research raised Corrections Corp. of America from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $30.25.

In other news, EVP Lucibeth Mayberry sold 5,000 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $30.54, for a total transaction of $152,700.00. Following the transaction, the executive vice president now owns 45,615 shares of the company’s stock, valued at approximately $1,393,082.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Anthony L. Grande sold 23,000 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $33.86, for a total value of $778,780.00. Following the transaction, the executive vice president now directly owns 39,510 shares in the company, valued at approximately $1,337,808.60. The disclosure for this sale can be found here. Insiders sold a total of 34,236 shares of company stock worth $1,121,117 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

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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