The Manufacturers Life Insurance Company Purchases New Shares in CoreCivic, Inc. $CXW

The Manufacturers Life Insurance Company purchased a new position in CoreCivic, Inc. (NYSE:CXW) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 48,005 shares of the real estate investment trust’s stock, valued at approximately $1,458,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Persistent Asset Partners Ltd acquired a new position in shares of CoreCivic in the second quarter worth about $52,000. Leonteq Securities AG acquired a new stake in shares of CoreCivic during the fourth quarter valued at approximately $57,000. Smartleaf Asset Management LLC lifted its position in shares of CoreCivic by 33.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 702 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of CoreCivic by 320.7% in the 4th quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 2,546 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in CoreCivic in the 4th quarter worth approximately $71,000. Institutional investors and hedge funds own 85.13% of the company’s stock.

CoreCivic Stock Up 3.3%

CXW stock opened at $33.68 on Friday. The company has a 50 day moving average of $31.81 and a two-hundred day moving average of $24.84. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 26.94 and a beta of 0.60. CoreCivic, Inc. has a 12-month low of $15.73 and a 12-month high of $34.86. 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 (NYSE:CXW) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. CoreCivic had a net margin of 5.15% and a return on equity of 9.22%. The business had revenue of $684.92 million for the quarter, compared to the consensus estimate of $618.63 million. During the same period in the prior year, the business posted $0.59 earnings per share. CoreCivic’s revenue for the quarter was up 27.3% compared to the same quarter last year. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. On average, equities analysts anticipate that CoreCivic, Inc. will post 2.69 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on CXW. Benchmark lifted their price objective on shares of CoreCivic from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. JonesTrading reaffirmed a “buy” rating and issued a $30.00 target price on shares of CoreCivic in a research report on Wednesday, August 5th. UBS Group set a $35.00 price target on CoreCivic in a report on Tuesday, July 7th. Wall Street Zen raised CoreCivic from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. Finally, Northland Securities set a $40.00 price objective on CoreCivic in a research note on Friday, June 26th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CoreCivic currently has a consensus rating of “Buy” and a consensus price target of $37.00.

Insider Buying and Selling

In other news, CFO David Garfinkle sold 50,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $33.76, for a total transaction of $1,688,000.00. Following the completion of the sale, the chief financial officer directly owned 343,353 shares of the company’s stock, valued at $11,591,597.28. This trade represents a 12.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lucibeth Mayberry sold 120,000 shares of CoreCivic stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $33.29, for a total value of $3,994,800.00. Following the sale, the executive vice president owned 149,329 shares of the company’s stock, valued at approximately $4,971,162.41. This represents a 44.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 439,287 shares of company stock worth $14,734,193. Insiders own 1.76% of the company’s stock.

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.