John Prann, Jr. Sells 40,000 Shares of CoreCivic (NYSE:CXW) Stock

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

CoreCivic Price Performance

Shares of CXW traded down $1.23 during midday trading on Tuesday, reaching $32.35. The stock had a trading volume of 1,084,923 shares, compared to its average volume of 1,372,718. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 25.88 and a beta of 0.58. The company’s 50-day moving average is $30.62 and its 200 day moving average is $23.60. The company has a current ratio of 1.32, a quick 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.

CoreCivic (NYSE:CXW) last posted 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 firm had revenue of $684.92 million for the quarter, compared to the consensus estimate of $618.63 million. CoreCivic had a net margin of 5.15% and a return on equity of 9.22%. The business’s revenue was up 27.3% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. On average, equities analysts predict that CoreCivic, Inc. will post 2.69 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On CoreCivic

Institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its holdings in shares of CoreCivic by 1.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 31,880 shares of the real estate investment trust’s stock worth $603,000 after buying an additional 510 shares during the last quarter. State of Wyoming grew its position in CoreCivic by 3.1% in the first quarter. State of Wyoming now owns 22,172 shares of the real estate investment trust’s stock worth $419,000 after acquiring an additional 659 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in CoreCivic by 33.0% during the second quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 702 shares during the last quarter. Bessemer Group Inc. raised its position in CoreCivic by 0.4% during the first quarter. Bessemer Group Inc. now owns 166,475 shares of the real estate investment trust’s stock valued at $3,148,000 after purchasing an additional 742 shares during the period. Finally, Lazard Asset Management LLC raised its position in CoreCivic by 10.4% during the second quarter. Lazard Asset Management LLC now owns 10,595 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 1,002 shares during the period. 85.13% of the stock is owned by hedge funds and other institutional investors.

CoreCivic Company Profile

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.