Insider Selling: CoreCivic (NYSE:CXW) Director Sells $1,341,600.00 in Stock

CoreCivic, Inc. (NYSE:CXW) Director John Prann, Jr. sold 40,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $33.54, for a total transaction of $1,341,600.00. Following the transaction, the director owned 30,396 shares in the company, valued at approximately $1,019,481.84. This represents a 56.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

CoreCivic Stock Performance

Shares of NYSE:CXW opened at $33.34 on Friday. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 26.67 and a beta of 0.58. CoreCivic, Inc. has a 52 week low of $15.73 and a 52 week high of $34.86. 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 firm has a 50 day moving average of $30.86 and a 200 day moving average of $23.79.

CoreCivic (NYSE:CXW) last announced its 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. CoreCivic had a return on equity of 9.22% and a net margin of 5.15%.The business had revenue of $684.92 million for the quarter, compared to analysts’ expectations of $618.63 million. During the same quarter last year, the firm earned $0.59 EPS. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. On average, sell-side analysts predict that CoreCivic, Inc. will post 2.69 earnings per share for the current fiscal year.

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

Institutional Investors Weigh In On CoreCivic

Several institutional investors have recently added to or reduced their stakes in CXW. PNC Financial Services Group Inc. increased its holdings in shares of CoreCivic by 1.6% during the first quarter. PNC Financial Services Group Inc. now owns 31,880 shares of the real estate investment trust’s stock valued at $603,000 after acquiring an additional 510 shares in the last quarter. State of Wyoming boosted its stake in CoreCivic by 3.1% in the 1st quarter. State of Wyoming now owns 22,172 shares of the real estate investment trust’s stock worth $419,000 after purchasing an additional 659 shares in the last quarter. Smartleaf Asset Management LLC grew its position in CoreCivic by 33.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 702 shares during the last quarter. Bessemer Group Inc. grew its position in CoreCivic by 0.4% during the 1st quarter. Bessemer Group Inc. now owns 166,475 shares of the real estate investment trust’s stock worth $3,148,000 after purchasing an additional 742 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in CoreCivic by 10.4% during the 2nd quarter. Lazard Asset Management LLC now owns 10,595 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 1,002 shares in the last quarter. Institutional investors and hedge funds own 85.13% of the company’s stock.

Wall Street Analysts Forecast Growth

CXW has been the subject of a number of recent research reports. Benchmark boosted their target price on shares of CoreCivic from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Wall Street Zen raised shares of CoreCivic from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. Weiss Ratings upgraded shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Noble Financial reissued an “outperform” rating on shares of CoreCivic in a research report on Monday, August 10th. Finally, UBS Group set a $35.00 target price on shares of CoreCivic in a research note on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target 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.