CoreCivic, Inc. $CXW Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its stake in shares of CoreCivic, Inc. (NYSE:CXW) by 33.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,964 shares of the real estate investment trust’s stock after selling 18,200 shares during the period. State of Alaska Department of Revenue’s holdings in CoreCivic were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new position in shares of CoreCivic during the second quarter worth $1,458,000. Bank of America Corp DE bought a new stake in CoreCivic in the 2nd quarter valued at $5,829,000. BlackRock Inc. bought a new stake in CoreCivic in the 2nd quarter valued at $480,557,000. Jupiter Topco LLC bought a new stake in CoreCivic in the 2nd quarter valued at $1,340,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in CoreCivic in the 2nd quarter worth $1,970,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

CoreCivic Stock Up 1.3%

NYSE CXW opened at $30.29 on Wednesday. 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 company has a market capitalization of $3.00 billion, a P/E ratio of 24.23 and a beta of 0.57. CoreCivic, Inc. has a one year low of $15.73 and a one year high of $36.55. The stock has a 50 day moving average price of $33.15 and a 200-day moving average price of $28.23.

CoreCivic (NYSE:CXW) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $684.92 million for the quarter, compared to analysts’ expectations of $618.63 million. CoreCivic had a net margin of 5.15% and a return on equity of 9.22%. CoreCivic’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous 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, equities analysts predict that CoreCivic, Inc. will post 2.69 EPS for the current fiscal year.

CoreCivic announced that its Board of Directors has authorized a stock buyback program on Monday, August 10th that authorizes the company to buy back $500.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 15.7% of its shares through open market purchases. Share buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other CoreCivic news, EVP Lucibeth Mayberry sold 120,000 shares of CoreCivic stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $33.29, for a total value of $3,994,800.00. Following the completion of the transaction, the executive vice president directly owned 149,329 shares of the company’s stock, valued at $4,971,162.41. This trade represents a 44.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Anthony Grande sold 29,199 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $33.61, for a total transaction of $981,378.39. Following the completion of the sale, the executive vice president owned 164,782 shares in the company, valued at approximately $5,538,323.02. This trade represents a 15.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 459,287 shares of company stock worth $15,431,193. Insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

CXW has been the subject of several research reports. Weiss Ratings raised shares of CoreCivic from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 13th. Benchmark raised their price objective on CoreCivic from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Noble Financial restated an “outperform” rating on shares of CoreCivic in a research report on Monday, August 10th. UBS Group set a $35.00 target price on CoreCivic in a report on Tuesday, July 7th. Finally, Wall Street Zen upgraded CoreCivic from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $39.40.

CoreCivic Profile

CoreCivic, Inc is a diversified government solutions company that owns, manages and develops correctional and detention facilities in the United States. The company provides detention and corrections services to federal, state and local government agencies, primarily under contracts that call for the housing and care of individuals in custody.

In addition to secure facilities, CoreCivic operates residential reentry centers and provides community-based services designed to support individuals transitioning from incarceration.