CoreCivic (NYSE:CXW) Trading Up 4.3% – Here’s Why

Shares of CoreCivic, Inc. (NYSE:CXW) traded up 4.3% during mid-day trading on Thursday . The company traded as high as $33.63 and last traded at $33.6530. 127,913 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,286,851 shares. The stock had previously closed at $32.28.

Analysts Set New Price Targets

CXW has been the topic of several research analyst reports. Noble Financial restated an “outperform” rating on shares of CoreCivic in a research report on Monday, August 10th. UBS Group set a $35.00 target price on CoreCivic in a research report on Tuesday, July 7th. Wall Street Zen raised CoreCivic from a “hold” rating to a “buy” rating in a research note on Monday, August 10th. JonesTrading reissued a “buy” rating and issued a $42.00 price target on shares of CoreCivic in a report on Friday, September 18th. Finally, Northland Securities set a $40.00 price target on CoreCivic in a report on Friday, June 26th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CoreCivic presently has an average rating of “Buy” and a consensus price target of $39.40.

CoreCivic Stock Up 6.3%

The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $3.39 billion, a PE ratio of 27.45 and a beta of 0.60. The company’s 50 day moving average is $32.77 and its two-hundred day moving average is $26.46.

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

CoreCivic announced that its board has approved a share repurchase program on Monday, August 10th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 15.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity at CoreCivic

In other CoreCivic news, Director R Jr sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was 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 in the company, valued at $1,019,481.84. This trade represents a 56.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Anthony Grande sold 29,199 shares of CoreCivic stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $33.61, for a total value of $981,378.39. Following the completion of the sale, the executive vice president directly owned 164,782 shares in the company, valued at approximately $5,538,323.02. The trade was a 15.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 459,287 shares of company stock valued at $15,431,193 in the last 90 days. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CoreCivic

A number of hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC bought a new position in CoreCivic during the second quarter valued at $207,000. Tidal Investments LLC lifted its holdings in shares of CoreCivic by 14.4% in the 2nd quarter. Tidal Investments LLC now owns 22,445 shares of the real estate investment trust’s stock valued at $682,000 after acquiring an additional 2,825 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of CoreCivic in the 2nd quarter valued at about $504,000. Corient Private Wealth LP bought a new position in shares of CoreCivic in the 2nd quarter valued at about $458,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in CoreCivic in the second quarter worth about $1,970,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

About CoreCivic

CoreCivic, Inc (NYSE: CXW) is a diversified government-solutions company that provides detention, corrections and residential reentry services. The company partners with federal, state and local government agencies to design, develop, own, lease and manage correctional and detention facilities in the United States.

Through its CoreCivic Safety operations, the company manages correctional and detention facilities and provides related services, including security, inmate care, transportation and rehabilitation programs.