CoreCivic, Inc. (NYSE:CXW - Get Free Report) EVP Anthony Grande sold 7,436 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $34.25, for a total transaction of $254,683.00. Following the completion of the sale, the executive vice president owned 157,346 shares of the company's stock, valued at approximately $5,389,100.50. This represents a 4.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
CoreCivic Stock Performance
CXW stock opened at $33.11 on Wednesday. The firm has a market cap of $3.27 billion, a PE ratio of 26.48 and a beta of 0.58. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.86. The business has a 50 day moving average of $31.23 and a 200-day moving average of $24.11. CoreCivic, Inc. has a 12-month low of $15.73 and a 12-month high of $34.86.
CoreCivic (NYSE:CXW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 EPS for the quarter, beating analysts' consensus estimates 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%.CoreCivic's revenue was up 27.3% on a year-over-year basis. During the same period last year, the business 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 expect that CoreCivic, Inc. will post 2.69 earnings per share for the current year.
CoreCivic declared that its Board of Directors has initiated a share repurchase plan on Monday, August 10th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the real estate investment trust to buy up to 15.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. Weiss Ratings raised shares of CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 1st. Northland Securities set a $40.00 price objective on shares of CoreCivic in a research report on Friday, June 26th. Wall Street Zen upgraded shares of CoreCivic from a "hold" rating to a "buy" rating in a research note on Monday, August 10th. Noble Financial reissued an "outperform" rating on shares of CoreCivic in a research report on Monday, August 10th. Finally, JonesTrading restated a "buy" rating and set a $30.00 price target on shares of CoreCivic in a research note on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $37.00.
Check Out Our Latest Analysis on CXW
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in CXW. BlackRock Inc. purchased a new position in CoreCivic during the second quarter worth about $480,557,000. Vanguard Group Inc. increased its stake in CoreCivic by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust's stock worth $242,955,000 after purchasing an additional 138,846 shares during the period. River Road Asset Management LLC grew its holdings in shares of CoreCivic by 3.3% in the fourth quarter. River Road Asset Management LLC now owns 8,978,240 shares of the real estate investment trust's stock worth $171,574,000 after purchasing an additional 287,108 shares during the last quarter. Lee Danner & Bass Inc. increased its position in shares of CoreCivic by 273.1% in 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 acquiring an additional 1,590,940 shares during the period. Finally, Rubric Capital Management LP increased its holdings in CoreCivic by 5.0% during the 1st quarter. Rubric Capital Management LP now owns 2,059,216 shares of the real estate investment trust's stock valued at $38,940,000 after purchasing an additional 97,770 shares during the period. 85.13% of the stock is currently owned by hedge funds and other institutional investors.
CoreCivic Company Profile
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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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