BlackRock Discloses 5.0% Stake in CoreCivic (CXW)
Ticker: CXW · Form: SC 13G · Filed: Jan 22, 2024 · CIK: 1070985
| Field | Detail |
|---|---|
| Company | Corecivic, INC. (CXW) |
| Form Type | SC 13G |
| Filed Date | Jan 22, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**BlackRock just revealed a 5% stake in CoreCivic, signaling institutional confidence.**
AI Summary
BlackRock Inc., a major investment firm, reported on January 22, 2024, that as of December 31, 2023, it beneficially owns 5.0% of CoreCivic, Inc.'s Common Stock. This means BlackRock holds a significant stake in the private prison and real estate company, totaling 5,888,967 shares. This filing is important for investors because it signals that a large institutional investor sees value in CoreCivic, potentially indicating stability or future growth prospects for the stock.
Why It Matters
A substantial stake by a major institutional investor like BlackRock can lend credibility to CoreCivic and potentially influence other investors' perceptions and decisions.
Risk Assessment
Risk Level: low — This filing indicates a passive investment by a large institution, generally seen as a positive or neutral signal for the stock.
Analyst Insight
Investors should note BlackRock's significant, passive stake as a potential indicator of long-term institutional interest in CoreCivic, but should conduct their own due diligence on the company's fundamentals.
Key Numbers
- 5.0% — Percentage of Class Owned (BlackRock's ownership stake in CoreCivic)
- 5,888,967 — Shares Beneficially Owned (Total shares of CoreCivic Common Stock held by BlackRock)
Key Players & Entities
- BlackRock Inc. (company) — the filer and beneficial owner
- CoreCivic, Inc. (company) — the subject company whose stock is owned
- 5,888,967 (dollar_amount) — number of shares beneficially owned
- December 31, 2023 (person) — date of event requiring the filing
- January 22, 2024 (person) — filing date
Forward-Looking Statements
- BlackRock will maintain its stake in CoreCivic above 5% for the foreseeable future. (BlackRock Inc.) — medium confidence, target: Q4 2024
FAQ
What is the name of the company whose shares are being reported in this SC 13G filing?
The company whose shares are being reported is CoreCivic, Inc., as stated in the 'Name of Issuer' section of the Schedule 13G.
Who is the entity filing this SC 13G statement?
The entity filing this SC 13G statement is BlackRock Inc., as indicated in the 'FILED BY' section of the filing.
What percentage of CoreCivic, Inc.'s Common Stock does BlackRock Inc. beneficially own as of the reporting date?
As of December 31, 2023, BlackRock Inc. beneficially owns 5.0% of CoreCivic, Inc.'s Common Stock, as per the filing details.
What was the 'Date of Event Which Requires Filing of this Statement' for this SC 13G?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified in the Schedule 13G.
What is the CUSIP Number for the Common Stock of CoreCivic, Inc. mentioned in this filing?
The CUSIP Number for the Common Stock of CoreCivic, Inc. is 22025Y407, as listed under 'CUSIP Number' in the Schedule 13G.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 22, 2024 by December 31, 2023 regarding CoreCivic, Inc. (CXW).