Insider Selling: CoreCivic (NYSE:CXW) CFO Sells $1,688,000.00 in 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 transaction of $1,688,000.00. Following the sale, the chief financial officer owned 343,353 shares in the company, valued at $11,591,597.28. The trade was a 12.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $16,708.73.
• On Wednesday, August 12th, David Garfinkle sold 3,170 shares of CoreCivic stock. The stock was sold at an average price of $34.27, for a total value of $108,635.90.

CoreCivic Trading Up 4.2%

Shares of CXW stock opened at $33.34 on Friday. 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 fifty day simple moving average of $30.86 and a two-hundred day simple moving average of $23.79. The firm has a market capitalization of $3.30 billion, a PE 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.

CoreCivic (NYSE:CXW) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. CoreCivic had a return on equity of 9.22% and a net margin of 5.15%.The firm had revenue of $684.92 million during the quarter, compared to analyst estimates of $618.63 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. On average, analysts predict that CoreCivic, Inc. will post 2.69 EPS for the current fiscal year.

CoreCivic declared that its board has authorized a stock buyback program 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 repurchase up to 15.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CXW. Benchmark lifted their price objective 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 reaffirmed a “buy” rating and set a $30.00 target price on shares of CoreCivic in a research note on Wednesday, August 5th. UBS Group set a $35.00 price target on shares of CoreCivic in a report on Tuesday, July 7th. Noble Financial reiterated an “outperform” rating on shares of CoreCivic in a research note on Monday, August 10th. Finally, Weiss Ratings raised shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CoreCivic currently has an average rating of “Buy” and an average target price of $37.00.

Institutional Investors Weigh In On CoreCivic

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

About CoreCivic

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.