Independent Order Of Foresters Lowers stake in Corrections Corp Of America (CXW)

Corrections Corp Of America (CXW) : Independent Order Of Foresters reduced its stake in Corrections Corp Of America by 6.33% during the most recent quarter end. The investment management company now holds a total of 106,603 shares of Corrections Corp Of America which is valued at $2,899,602 after selling 7,200 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 2.11% of Independent Order Of Foresters’s portfolio.

Other Hedge Funds, Including , Diamond Hill Capital Management Inc reduced its stake in CXW by selling 127,105 shares or 33.08% in the most recent quarter. The Hedge Fund company now holds 257,111 shares of CXW which is valued at $6,993,419. Corrections Corp Of America makes up approx 0.04% of Diamond Hill Capital Management Inc’s portfolio.Ubs Asset Management Americas Inc boosted its stake in CXW in the latest quarter, The investment management firm added 13,986 additional shares and now holds a total of 120,175 shares of Corrections Corp Of America which is valued at $3,291,593.Diam Ltd. reduced its stake in CXW by selling 15,528 shares or 5.8% in the most recent quarter. The Hedge Fund company now holds 252,200 shares of CXW which is valued at $7,825,766. Corrections Corp Of America makes up approx 0.11% of Diam Ltd.’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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