Connor Clark & Lunn Investment Management Ltd. Buys New Shares in CoreCivic, Inc. $CXW

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of CoreCivic, Inc. (NYSE:CXW) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 85,751 shares of the real estate investment trust’s stock, valued at approximately $2,605,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of CoreCivic as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Quantbot Technologies LP bought a new position in CoreCivic in the second quarter valued at approximately $923,000. EP Wealth Advisors LLC bought a new stake in shares of CoreCivic during the 2nd quarter worth approximately $312,000. Ieq Capital LLC bought a new stake in shares of CoreCivic during the 2nd quarter worth approximately $211,000. JB Capital Partners LP acquired a new stake in shares of CoreCivic in the 2nd quarter valued at approximately $25,677,480. Finally, BlackRock Inc. acquired a new stake in shares of CoreCivic in the 2nd quarter valued at approximately $480,557,000. 85.13% of the stock is owned by institutional investors and hedge funds.

CoreCivic Stock Performance

Shares of CXW stock opened at $33.82 on Friday. CoreCivic, Inc. has a 52 week low of $15.73 and a 52 week high of $34.86. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 27.06 and a beta of 0.58. The company has a 50-day simple moving average of $31.54 and a 200 day simple moving average of $24.39. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.32.

CoreCivic (NYSE:CXW) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. CoreCivic had a net margin of 5.15% and a return on equity of 9.22%. The firm had revenue of $684.92 million during the quarter, compared to the consensus estimate of $618.63 million. During the same period last year, the business posted $0.59 earnings per share. The business’s revenue for the quarter 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, sell-side analysts predict that CoreCivic, Inc. will post 2.69 earnings per share for the current year.

CoreCivic declared that its board has approved a stock buyback plan on Monday, August 10th that allows the company to repurchase $500.00 million in outstanding 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 plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Transactions at CoreCivic

In other CoreCivic news, Director Mark A. Emkes sold 30,000 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $34.25, for a total value of $1,027,500.00. Following the transaction, the director directly owned 141,274 shares of the company’s stock, valued at $4,838,634.50. This represents a 17.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO David Garfinkle sold 50,000 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $33.96, for a total value of $1,698,000.00. Following the transaction, the chief financial officer owned 293,353 shares in the company, valued at $9,962,267.88. The trade was a 14.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 439,287 shares of company stock valued at $14,734,193. 1.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. 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. JonesTrading reiterated a “buy” rating and issued a $30.00 price target on shares of CoreCivic in a research note on Wednesday, August 5th. Northland Securities set a $40.00 price target on shares of CoreCivic in a research note on Friday, June 26th. UBS Group set a $35.00 price objective on shares of CoreCivic in a research report on Tuesday, July 7th. Finally, Wall Street Zen raised shares of CoreCivic from a “hold” rating to a “buy” rating in a report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $37.00.

CoreCivic 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.