New South Capital Management Inc Lowers stake in Corrections Corp Of America (CXW)

Corrections Corp Of America (CXW) : New South Capital Management Inc reduced its stake in Corrections Corp Of America by 2.0% during the most recent quarter end. The investment management company now holds a total of 3,634,082 shares of Corrections Corp Of America which is valued at $98,847,030 after selling 74,002 shares in Corrections Corp Of America , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Corrections Corp Of America makes up approximately 2.36% of New South Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Cambridge Investment Research Advisors reduced its stake in CXW by selling 312 shares or 0.85% in the most recent quarter. The Hedge Fund company now holds 36,355 shares of CXW which is valued at $1,041,934. Corrections Corp Of America makes up approx 0.02% of Cambridge Investment Research Advisors’s portfolio. Quantbot Technologies Lp sold out all of its stake in CXW during the most recent quarter. The investment firm sold 14,302 shares of CXW which is valued $443,791.Eqis Capital Management boosted its stake in CXW in the latest quarter, The investment management firm added 7,245 additional shares and now holds a total of 21,651 shares of Corrections Corp Of America which is valued at $714,916. Corrections Corp Of America makes up approx 0.05% of Eqis Capital Management’s portfolio.

Corrections Corp Of America opened for trading at $19.25 and hit $21.15 on the upside on Friday, eventually ending the session at $19.08, with a gain of 8.59% or 1.51 points. The heightened volatility saw the trading volume jump to 2,67,05,436 shares. Company has a market cap of $2,242 M.

On the company’s financial health, Corrections Corp Of America reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.65. The company had revenue of $463.30 million for the quarter, compared to analysts expectations of $462.24 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS.

Many Wall Street Analysts have commented on Corrections Corp Of America. Shares were Reiterated by Canaccord Genuity on Aug 5, 2016 to “Hold” and Lowered the Price Target to $ 30 from a previous price target of $34 .Corrections Corp Of America was Downgraded by SunTrust to ” Neutral” on Jul 1, 2016.

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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