David Garfinkle Sells 50,000 Shares of CoreCivic (NYSE:CXW) Stock

CoreCivic, Inc. (NYSE:CXW) CFO David Garfinkle sold 50,000 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $33.96, for a total value of $1,698,000.00. Following the completion of the transaction, the chief financial officer directly owned 293,353 shares in the company, valued at approximately $9,962,267.88. This represents a 14.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

David Garfinkle also recently made the following trade(s):

• On Monday, August 17th, David Garfinkle sold 50,000 shares of CoreCivic stock. The shares were sold at an average price of $33.76, for a total value of $1,688,000.00.
• On Thursday, August 13th, David Garfinkle sold 491 shares of CoreCivic stock. The stock was sold at an average price of $34.03, for a total value of $16,708.73.
• On Wednesday, August 12th, David Garfinkle sold 3,170 shares of CoreCivic stock. The stock was sold at an average price of $34.27, for a total transaction of $108,635.90.

CoreCivic Stock Performance

Shares of NYSE:CXW traded up $0.49 during midday trading on Friday, reaching $34.00. The company had a trading volume of 2,437,395 shares, compared to its average volume of 1,210,939. The stock has a market cap of $3.36 billion, a P/E ratio of 27.20 and a beta of 0.58. The company’s 50 day moving average price is $30.86 and its 200 day moving average price is $23.79. 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 52-week low of $15.73 and a 52-week high of $34.86.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $684.92 million during 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 firm’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. As a group, sell-side analysts anticipate that CoreCivic, Inc. will post 2.69 EPS for the current fiscal year.

CoreCivic declared that its board has authorized a share buyback 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 repurchase up to 15.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On CoreCivic

Several large investors have recently modified their holdings of CXW. Royal Bank of Canada lifted its stake in shares of 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 raised its holdings in CoreCivic by 69.8% during the 1st quarter. AQR Capital Management LLC now owns 28,120 shares of the real estate investment trust’s stock valued at $571,000 after acquiring an additional 11,557 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in CoreCivic by 4.6% during 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 lifted its position in shares of CoreCivic by 3,884.2% during the first 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of CoreCivic by 2.3% during the first 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 in the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CXW. Weiss Ratings raised shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Noble Financial reissued an “outperform” rating on shares of CoreCivic in a report on Monday, August 10th. Wall Street Zen raised CoreCivic from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. UBS Group set a $35.00 target price on CoreCivic in a research note on Tuesday, July 7th. Finally, Northland Securities set a $40.00 price target on CoreCivic in a research report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, CoreCivic currently has an average rating of “Buy” and a consensus price target 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.