Reinhart Partners buys $33,924,402 stake in Corrections Corp Of America (CXW)

Corrections Corp Of America (CXW) : Reinhart Partners scooped up 39,485 additional shares in Corrections Corp Of America during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 18, 2016. The investment management firm now holds a total of 1,109,003 shares of Corrections Corp Of America which is valued at $33,924,402.Corrections Corp Of America makes up approximately 3.41% of Reinhart Partners’s portfolio.

Corrections Corp Of America opened for trading at $30.53 and hit $30.75 on the upside on Friday, eventually ending the session at $30.59, with a gain of 0.46% or 0.14 points. The heightened volatility saw the trading volume jump to 3,79,485 shares. Company has a market cap of $3,586 M.

Other Hedge Funds, Including , New York State Teachers Retirement System reduced its stake in CXW by selling 3,100 shares or 1.16% in the most recent quarter. The Hedge Fund company now holds 265,220 shares of CXW which is valued at $8,113,080. Corrections Corp Of America makes up approx 0.02% of New York State Teachers Retirement System’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in CXW in the latest quarter, The investment management firm added 1,517 additional shares and now holds a total of 49,312 shares of Corrections Corp Of America which is valued at $1,561,218. Corrections Corp Of America makes up approx 0.04% of Oregon Public Employees Retirement Fund’s portfolio.Breton Hill Capital Ltd. reduced its stake in CXW by selling 29,436 shares or 11.82% in the most recent quarter. The Hedge Fund company now holds 219,574 shares of CXW which is valued at $6,951,713. Corrections Corp Of America makes up approx 2.55% of Breton Hill Capital Ltd.’s portfolio.

On the company’s financial health, Corrections Corp Of America reported $0.58 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 10, 2016. Analyst had a consensus of $0.60. The company had revenue of $447.80 million for the quarter, compared to analysts expectations of $456.71 million. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS.

Many Wall Street Analysts have commented on Corrections Corp Of America. Company shares were Reiterated by Canaccord Genuity on Mar 22, 2016 to “Hold”, Firm has raised the Price Target to $ 33 from a previous price target of $30 .

Corrections Corporation of America (CCA) is a real estate investment trust (REIT). The Company is engaged in owning operating and managing prisons and other correctional facilities and providing residential community re-entry and prisoner transportation services for governmental agencies. In addition to providing fundamental residential services the Company’s facilities offer a variety of rehabilitation and educational programs including basic education faith-based services life skills and employment training and substance abuse treatment. It also provides or makes available to offenders certain health care (including medical dental and mental health services) food services and work and recreational programs. The Company’s customers consist of federal state and local correctional and detention authorities. The Company also provides transportation services to governmental agencies through its wholly owned TRS TransCor America LLC (TransCor).

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