CoreCivic (NYSE:CXW) EVP Anthony Grande Sells 7,436 Shares

CoreCivic, Inc. (NYSE:CXW) EVP Anthony Grande sold 7,436 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $34.25, for a total transaction of $254,683.00. Following the completion of the sale, the executive vice president directly owned 157,346 shares in the company, valued at approximately $5,389,100.50. The trade was a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

CoreCivic Trading Down 2.2%

CXW stock opened at $33.11 on Wednesday. CoreCivic, Inc. has a one year low of $15.73 and a one year high of $34.86. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 26.48 and a beta of 0.58. The company has a fifty day moving average price of $31.23 and a two-hundred day moving average price of $24.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.32 and a quick ratio of 1.32.

CoreCivic (NYSE:CXW) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $618.63 million. During the same period in the prior year, the firm posted $0.59 EPS. CoreCivic’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. Equities analysts anticipate that CoreCivic, Inc. will post 2.69 EPS for the current year.

CoreCivic announced that its board has initiated a stock buyback program on Monday, August 10th that permits the company to buyback $500.00 million in outstanding 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 often a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in CoreCivic in the second quarter worth $480,557,000. Lee Danner & Bass Inc. grew its stake in shares of CoreCivic by 273.1% in the 1st quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust’s stock valued at $41,101,000 after buying an additional 1,590,940 shares during the period. Rubric Capital Management LP increased its position in CoreCivic by 140.6% in the 3rd quarter. Rubric Capital Management LP now owns 1,961,446 shares of the real estate investment trust’s stock valued at $39,915,000 after buying an additional 1,146,166 shares in the last quarter. Balyasny Asset Management L.P. increased its position in CoreCivic by 361.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust’s stock valued at $26,562,000 after buying an additional 987,375 shares in the last quarter. Finally, Park West Asset Management LLC acquired a new position in CoreCivic during the 2nd quarter worth approximately $27,310,000. Institutional investors and hedge funds own 85.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Northland Securities set a $40.00 target price on CoreCivic in a research note on Friday, June 26th. JonesTrading restated a “buy” rating and set a $30.00 price objective on shares of CoreCivic in a research report on Wednesday, August 5th. Noble Financial restated an “outperform” rating on shares of CoreCivic in a research report on Monday, August 10th. Weiss Ratings upgraded CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Finally, Wall Street Zen upgraded CoreCivic from a “hold” rating to a “buy” rating in a report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, CoreCivic has a consensus rating of “Buy” and an average price target of $37.00.

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.