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

CoreCivic, Inc. (NYSE:CXW) CFO David Garfinkle sold 50,000 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $33.76, for a total value of $1,688,000.00. Following the sale, the chief financial officer directly owned 343,353 shares of the company’s stock, valued at approximately $11,591,597.28. This represents a 12.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 shares were sold at an average price of $34.27, for a total transaction of $108,635.90.

CoreCivic Price Performance

NYSE CXW traded down $1.23 on Tuesday, hitting $32.35. The stock had a trading volume of 1,084,923 shares, compared to its average volume of 1,372,718. The firm has a 50-day moving average of $30.62 and a 200-day moving average of $23.60. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.32. CoreCivic, Inc. has a 52-week low of $15.73 and a 52-week high of $34.86. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 25.88 and a beta of 0.58.

CoreCivic (NYSE:CXW) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $618.63 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’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. Equities analysts expect that CoreCivic, Inc. will post 2.69 EPS for the current year.

CoreCivic announced that its board has initiated a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

CXW has been the topic of a number of research reports. Weiss Ratings raised shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. 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 CoreCivic in a research note on Tuesday, July 7th. Noble Financial restated an “outperform” rating on shares of CoreCivic in a research note on Monday, August 10th. Finally, JonesTrading reiterated a “buy” rating and issued a $30.00 price objective on shares of CoreCivic in a report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, CoreCivic has an average rating of “Buy” and an average target price of $37.00.

Hedge Funds Weigh In On CoreCivic

Several large investors have recently made changes to their positions in CXW. BlackRock Inc. purchased a new stake in shares of CoreCivic during the second quarter worth about $480,557,000. Lee Danner & Bass Inc. grew its position in shares of 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 grew its position in CoreCivic by 140.6% in the third quarter. Rubric Capital Management LP now owns 1,961,446 shares of the real estate investment trust’s stock worth $39,915,000 after acquiring an additional 1,146,166 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of 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 valued at $26,562,000 after buying an additional 987,375 shares during the last quarter. Finally, Park West Asset Management LLC purchased a new stake in shares of CoreCivic in the second quarter valued at approximately $27,310,000. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

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.