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

CoreCivic, Inc. (NYSE:CXW)’s stock price shot up 4.3% during mid-day trading on Thursday . The stock 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 daily volume of 1,286,851 shares. The stock had previously closed at $32.28.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings upgraded shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. JonesTrading reaffirmed a “buy” rating and set a $42.00 target price on shares of CoreCivic in a research report on Friday, September 18th. UBS Group set a $35.00 target price on shares of CoreCivic in a report on Tuesday, July 7th. Wall Street Zen raised shares of 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 target on shares of CoreCivic in a report on Friday, June 26th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, CoreCivic presently has a consensus rating of “Buy” and a consensus price target of $39.40.

CoreCivic Price Performance

The firm has a market capitalization of $3.39 billion, a PE ratio of 27.45 and a beta of 0.60. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a fifty day moving average price of $32.77 and a 200-day moving average price of $26.46.

CoreCivic (NYSE:CXW) last issued its quarterly earnings data 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 return on equity of 9.22% and a net margin of 5.15%.The firm had revenue of $684.92 million during the quarter, compared to analysts’ expectations of $618.63 million. During the same period in the prior year, the business posted $0.59 EPS. 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. Sell-side analysts forecast that CoreCivic, Inc. will post 2.69 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other news, EVP Daren Swenson sold 20,000 shares of CoreCivic stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $34.85, for a total value of $697,000.00. Following the transaction, the executive vice president owned 142,666 shares of the company’s stock, valued at $4,971,910.10. The trade was a 12.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Emkes sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $34.25, for a total transaction of $1,027,500.00. Following the transaction, the director owned 141,274 shares of the company’s stock, valued at approximately $4,838,634.50. This trade represents a 17.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 459,287 shares of company stock worth $15,431,193. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On CoreCivic

A number of large investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC acquired a new stake in shares of CoreCivic in the 2nd quarter worth $207,000. Tidal Investments LLC increased its position in CoreCivic by 14.4% during the 2nd quarter. Tidal Investments LLC now owns 22,445 shares of the real estate investment trust’s stock valued at $682,000 after buying an additional 2,825 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in CoreCivic in the second quarter valued at about $504,000. Corient Private Wealth LP purchased a new stake in CoreCivic in the second quarter valued at about $458,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in CoreCivic in the second quarter worth about $1,970,000. 85.13% of the stock is owned by institutional investors and hedge funds.

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.