CoreCivic (NYSE:CXW) EVP Anthony Grande Sells 29,199 Shares of Stock

CoreCivic, Inc. (NYSE:CXW) EVP Anthony Grande sold 29,199 shares of CoreCivic stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $33.61, for a total value 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. This trade represents a 15.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CoreCivic Trading Up 1.9%

Shares of CXW traded up $0.62 during mid-day trading on Monday, hitting $33.44. The company had a trading volume of 1,773,464 shares, compared to its average volume of 1,201,018. The business’s 50-day simple moving average is $30.30 and its 200-day simple moving average is $23.39. 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, Inc. has a 1-year low of $15.73 and a 1-year high of $34.86. The stock has a market cap of $3.31 billion, a PE ratio of 26.75 and a beta of 0.58.

CoreCivic (NYSE:CXW) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $684.92 million during the quarter, compared to the consensus estimate of $618.63 million. During the same period in the previous year, the firm earned $0.59 earnings per share. CoreCivic’s revenue was up 27.3% compared to the same quarter last year. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. Sell-side analysts forecast that CoreCivic, Inc. will post 2.69 earnings per share for the current year.

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

Institutional Investors Weigh In On CoreCivic

Several large investors have recently made changes to their positions in CXW. Corient Private Wealth LP acquired a new stake in shares of CoreCivic in the second quarter worth $265,000. Park West Asset Management LLC acquired a new position in shares of CoreCivic during the 2nd quarter valued at $27,310,000. Pentwater Capital Management LP purchased a new stake in CoreCivic during the 2nd quarter worth $1,519,000. Philadelphia Financial Management of San Francisco LLC purchased a new stake in CoreCivic during the 2nd quarter worth $14,559,159,000. Finally, Bank of America Corp DE purchased a new stake in CoreCivic during the 2nd quarter worth $5,829,000. Institutional investors and hedge funds own 85.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Benchmark upped their price objective on CoreCivic from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 7th. JonesTrading reissued a “buy” rating and set a $30.00 price target on shares of CoreCivic in a research report on Wednesday, August 5th. UBS Group set a $35.00 price target on CoreCivic in a research note on Tuesday, July 7th. Wall Street Zen upgraded CoreCivic from a “hold” rating to a “buy” rating in a report on Monday, August 10th. Finally, Noble Financial restated an “outperform” rating on shares of CoreCivic in a report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, CoreCivic has an average rating of “Buy” and a consensus 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.