Insider Selling: CoreCivic (NYSE:CXW) EVP Sells $3,994,800.00 in Stock

CoreCivic, Inc. (NYSE:CXW) EVP Lucibeth Mayberry sold 120,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $33.29, for a total transaction of $3,994,800.00. Following the completion of the sale, the executive vice president directly owned 149,329 shares in the company, valued at $4,971,162.41. This trade represents a 44.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

CoreCivic Trading Down 1.2%

Shares of NYSE:CXW traded down $0.40 during trading hours on Wednesday, hitting $33.52. 2,922,290 shares of the company’s stock traded hands, compared to its average volume of 1,186,475. CoreCivic, Inc. has a 1 year low of $15.73 and a 1 year high of $34.86. The business has a fifty day moving average price of $29.94 and a 200-day moving average price of $23.21. The firm has a market capitalization of $3.31 billion, a P/E ratio of 26.82 and a beta of 0.58. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.32 and a quick ratio of 1.32.

CoreCivic announced that its Board of Directors has initiated a share buyback program 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Trading of CoreCivic

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its position in CoreCivic by 49.2% during the 1st quarter. Royal Bank of Canada now owns 59,523 shares of the real estate investment trust’s stock valued at $1,207,000 after buying an additional 19,630 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of CoreCivic by 69.8% during the first quarter. AQR Capital Management LLC now owns 28,120 shares of the real estate investment trust’s stock valued at $571,000 after buying an additional 11,557 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of CoreCivic by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,828 shares of the real estate investment trust’s stock valued at $1,315,000 after acquiring an additional 2,828 shares during the period. Jones Financial Companies Lllp raised its stake in CoreCivic by 3,884.2% in the 1st quarter. Jones Financial Companies Lllp now owns 18,885 shares of the real estate investment trust’s stock worth $383,000 after acquiring an additional 18,411 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in CoreCivic by 2.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,467 shares of the real estate investment trust’s stock worth $4,473,000 after acquiring an additional 4,977 shares during the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

Analysts Set New Price Targets

CXW has been the topic of a number of recent analyst reports. JonesTrading reiterated a “buy” rating and issued a $30.00 target price on shares of CoreCivic in a research note on Wednesday, August 5th. Wall Street Zen raised shares of CoreCivic from a “hold” rating to a “buy” rating in a research note on Monday. UBS Group set a $35.00 price target on shares of CoreCivic in a research note on Tuesday, July 7th. Northland Securities set a $40.00 price objective on shares of CoreCivic in a report on Friday, June 26th. Finally, Weiss Ratings raised shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $37.00.

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.