Insider Selling: CoreCivic (NYSE:CXW) EVP Sells $981,378.39 in Stock

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

CoreCivic Trading Down 1.5%

CXW opened at $31.91 on Thursday. The company has a market cap of $3.16 billion, a P/E ratio of 25.53 and a beta of 0.58. The company has a fifty day moving average price of $30.73 and a two-hundred day moving average price of $23.69. 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 1-year low of $15.73 and a 1-year high of $34.86.

CoreCivic (NYSE:CXW) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 EPS for the quarter, beating the consensus estimate of $0.34 by $0.04. The company had revenue of $684.92 million during the quarter, compared to the consensus estimate of $618.63 million. CoreCivic had a return on equity of 9.22% and a net margin of 5.15%.The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period last year, the business posted $0.59 EPS. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. Analysts predict that CoreCivic, Inc. will post 2.69 EPS for the current fiscal year.

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

Hedge Funds Weigh In On CoreCivic

A number of large investors have recently modified their holdings of CXW. BlackRock Inc. bought a new position in CoreCivic in the 2nd quarter valued at $480,557,000. Lee Danner & Bass Inc. raised its position in CoreCivic by 273.1% during the first quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust’s stock valued at $41,101,000 after purchasing an additional 1,590,940 shares in the last quarter. Rubric Capital Management LP raised its position in CoreCivic by 140.6% during the third quarter. Rubric Capital Management LP now owns 1,961,446 shares of the real estate investment trust’s stock valued at $39,915,000 after purchasing an additional 1,146,166 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in CoreCivic by 361.3% during the second quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust’s stock worth $26,562,000 after purchasing an additional 987,375 shares during the last quarter. Finally, Park West Asset Management LLC purchased a new position in shares of CoreCivic in the 2nd quarter worth about $27,310,000. 85.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Northland Securities set a $40.00 price target on shares of CoreCivic in a research report on Friday, June 26th. UBS Group set a $35.00 target price on shares of CoreCivic in a research report on Tuesday, July 7th. Benchmark raised their price target on shares of CoreCivic from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. JonesTrading reaffirmed a “buy” rating and issued a $30.00 price target on shares of CoreCivic in a report on Wednesday, August 5th. Finally, Noble Financial reiterated an “outperform” rating on shares of CoreCivic in a research note on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $37.00.

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.