CoreCivic (NYSE:CXW) Director John Prann, Jr. Sells 3,098 Shares

by · The Cerbat Gem

CoreCivic, Inc. (NYSE:CXW – Get Free Report) Director John Prann, Jr. sold 3,098 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $34.00, for a total value of $105,332.00. Following the completion of the sale, the director directly owned 5,000 shares of the company’s stock, valued at approximately $170,000. This trade represents a 38.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

CoreCivic Stock Up 2.3%

CXW stock traded up $0.75 during trading hours on Wednesday, reaching $33.89. 1,917,951 shares of the stock were exchanged, compared to its average volume of 1,214,758. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 27.11 and a beta of 0.58. The firm’s 50-day moving average is $31.23 and its 200-day moving average is $24.11. CoreCivic, Inc. has a 12 month low of $15.73 and a 12 month high of $34.86. 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 (NYSE:CXW – Get Free Report) last released its quarterly earnings data 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 quarter in the prior year, the firm posted $0.59 EPS. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. On average, equities research analysts expect that CoreCivic, Inc. will post 2.69 earnings per share for the current year.

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

Institutional Investors Weigh In On CoreCivic

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. lifted its stake in CoreCivic by 533.9% in the 4th quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 1,228 shares during the last quarter. Persistent Asset Partners Ltd bought a new stake in shares of CoreCivic during the second quarter worth $52,000. Leonteq Securities AG bought a new stake in shares of CoreCivic during the fourth quarter worth $57,000. Smartleaf Asset Management LLC increased its holdings in shares of CoreCivic by 33.0% during the second quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 702 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of CoreCivic by 320.7% during the fourth quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 2,546 shares in the last quarter. 85.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CXW has been the subject of several analyst reports. Benchmark boosted their target price on shares of CoreCivic from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, August 7th. JonesTrading reissued a “buy” rating and issued a $30.00 price objective on shares of CoreCivic in a research note on Wednesday, August 5th. UBS Group set a $35.00 target price on CoreCivic in a research note on Tuesday, July 7th. Northland Securities set a $40.00 target price on CoreCivic in a report on Friday, June 26th. Finally, Weiss Ratings raised CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a 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.

View Our Latest Research Report on CXW

About CoreCivic

(Get Free Report)

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.

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