CoreCivic (NYSE:CXW) EVP Anthony Grande Sells 29,199 Shares of Stock

CoreCivic, Inc. (NYSE:CXW) EVP Anthony Grande sold 29,199 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $33.61, for a total value of $981,378.39. Following the transaction, the executive vice president owned 164,782 shares of the company’s stock, valued at approximately $5,538,323.02. This trade represents a 15.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

CoreCivic Stock Up 1.9%

CXW stock opened at $33.44 on Tuesday. CoreCivic, Inc. has a twelve month low of $15.73 and a twelve month high of $34.86. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $3.31 billion, a P/E ratio of 26.75 and a beta of 0.58. The firm has a 50 day simple moving average of $30.48 and a 200-day simple moving average of $23.50.

CoreCivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. CoreCivic had a net margin of 5.15% and a return on equity of 9.22%. The firm had revenue of $684.92 million for the quarter, compared to analysts’ expectations of $618.63 million. During the same period in the prior year, the company posted $0.59 earnings per share. The firm’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, equities research analysts predict that CoreCivic, Inc. will post 2.69 earnings per share for the current fiscal year.

CoreCivic announced that its Board of Directors has initiated a share repurchase plan on Monday, August 10th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 15.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CXW. Wall Street Zen raised shares of CoreCivic from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. Weiss Ratings raised CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Benchmark upped their price objective on CoreCivic from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Northland Securities set a $40.00 target price on CoreCivic in a report on Friday, June 26th. Finally, Noble Financial reiterated an “outperform” rating on shares of CoreCivic in a research report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $37.00.

Institutional Trading of CoreCivic

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position 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 valued at $242,955,000 after buying an additional 138,846 shares during the last quarter. Lee Danner & Bass Inc. raised its stake in CoreCivic by 20.1% during the fourth quarter. Lee Danner & Bass Inc. now owns 582,558 shares of the real estate investment trust’s stock worth $11,133,000 after acquiring an additional 97,413 shares during the period. KCM Capital Inc bought a new position in CoreCivic in the first quarter worth about $10,400,000. Empowered Funds LLC bought a new position in CoreCivic in the first quarter worth about $4,785,000. Finally, Caxton Associates LLP acquired a new position in CoreCivic in the first quarter valued at approximately $310,000. 85.13% of the stock is owned by institutional investors and hedge funds.

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.