CoreCivic, Inc. (NYSE:CXW - Get Free Report) EVP Anthony Grande sold 29,199 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $33.61, for a total value of $981,378.39. Following the transaction, the executive vice president owned 164,782 shares of the company's stock, valued at approximately $5,538,323.02. The trade was a 15.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
CoreCivic Stock Performance
CXW stock opened at $33.44 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 26.75 and a beta of 0.58. CoreCivic, Inc. has a 1 year low of $15.73 and a 1 year high of $34.86. The stock's fifty day moving average is $30.48 and its two-hundred day moving average is $23.50.
CoreCivic (NYSE:CXW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share (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 net margin of 5.15% and a return on equity of 9.22%. The company's revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. On average, research analysts predict that CoreCivic, Inc. will post 2.69 EPS for the current year.
CoreCivic announced that its Board of Directors has authorized a stock buyback plan on Monday, August 10th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase up to 15.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.
Hedge Funds Weigh In On CoreCivic
Several large investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its position 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 worth $1,207,000 after buying an additional 19,630 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of CoreCivic by 69.8% in the first 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CoreCivic by 4.6% in the first 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 in the last quarter. Jones Financial Companies Lllp increased its stake 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 valued at $383,000 after acquiring an additional 18,411 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 valued at $4,473,000 after acquiring an additional 4,977 shares during the period. Institutional investors and hedge funds own 85.13% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on CXW. Northland Securities set a $40.00 target price on shares of CoreCivic in a research report on Friday, June 26th. Benchmark boosted their price objective on CoreCivic from $41.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Wall Street Zen upgraded CoreCivic from a "hold" rating to a "buy" rating in a research report on Monday, August 10th. UBS Group set a $35.00 price objective on CoreCivic in a report on Tuesday, July 7th. Finally, JonesTrading restated a "buy" rating and issued a $30.00 target price on shares of CoreCivic in a research report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $37.00.
Check Out Our Latest Report on CoreCivic
CoreCivic Company Profile
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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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