CoreCivic (NYSE:CXW) Director Sells 40,000 Shares

CoreCivic, Inc. (NYSE:CXW) Director John Prann, Jr. sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $33.54, for a total transaction of $1,341,600.00. Following the completion of the transaction, the director owned 30,396 shares of the company’s stock, valued at $1,019,481.84. The trade was a 56.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

CoreCivic Trading Down 3.7%

Shares of CXW stock traded down $1.23 during trading hours on Tuesday, hitting $32.35. 1,084,923 shares of the company’s stock traded hands, compared to its average volume of 1,372,718. The stock has a market cap of $3.20 billion, a PE ratio of 25.88 and a beta of 0.58. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.86. CoreCivic, Inc. has a 12 month low of $15.73 and a 12 month high of $34.86. The stock’s 50 day simple moving average is $30.62 and its 200 day simple moving average is $23.60.

CoreCivic (NYSE:CXW) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. CoreCivic had a return on equity of 9.22% and a net margin of 5.15%.The company had revenue of $684.92 million during the quarter, compared to analysts’ expectations of $618.63 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s quarterly revenue was up 27.3% on a year-over-year basis. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. On average, sell-side analysts anticipate that CoreCivic, Inc. will post 2.69 EPS for the current year.

CoreCivic declared that its board has initiated a stock repurchase program on Monday, August 10th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 15.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

CXW has been the topic of a number of research reports. JonesTrading reaffirmed a “buy” rating and set a $30.00 price target on shares of CoreCivic in a research note on Wednesday, August 5th. Noble Financial restated an “outperform” rating on shares of CoreCivic in a report on Monday, August 10th. Benchmark upped their target price on CoreCivic from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Weiss Ratings upgraded CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Finally, UBS Group set a $35.00 price target on shares of CoreCivic in a research report on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $37.00.

Hedge Funds Weigh In On CoreCivic

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in CoreCivic during the 2nd quarter worth $480,557,000. Vanguard Group Inc. grew its stake in shares of CoreCivic by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust’s stock worth $242,955,000 after acquiring an additional 138,846 shares during the period. River Road Asset Management LLC boosted its position in CoreCivic by 3.3% during the fourth quarter. River Road Asset Management LLC now owns 8,978,240 shares of the real estate investment trust’s stock worth $171,574,000 after purchasing an additional 287,108 shares during the period. Lee Danner & Bass Inc. increased its stake in shares of CoreCivic by 273.1% in the first quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust’s stock worth $41,101,000 after purchasing an additional 1,590,940 shares in the last quarter. Finally, Rubric Capital Management LP raised its position in shares of CoreCivic by 5.0% in the first quarter. Rubric Capital Management LP now owns 2,059,216 shares of the real estate investment trust’s stock valued at $38,940,000 after purchasing an additional 97,770 shares during the period. 85.13% of the stock is currently owned by institutional investors.

About CoreCivic

CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.