CoreCivic (NYSE:CXW) Director Sells 8,000 Shares

CoreCivic, Inc. (NYSE:CXW) Director John Prann, Jr. sold 8,000 shares of CoreCivic stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $22.52, for a total value of $180,160.00. Following the transaction, the director owned 100,396 shares of the company’s stock, valued at $2,260,917.92. The trade was a 7.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

CoreCivic Stock Performance

CoreCivic stock traded down $0.11 during midday trading on Monday, hitting $20.19. 697,211 shares of the company were exchanged, compared to its average volume of 787,761. The business has a fifty day simple moving average of $18.39 and a two-hundred day simple moving average of $19.54. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $2.11 billion, a PE ratio of 20.39 and a beta of 0.69. CoreCivic, Inc. has a fifty-two week low of $15.95 and a fifty-two week high of $23.85.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, November 5th. The real estate investment trust reported $0.48 earnings per share for the quarter, meeting the consensus estimate of $0.48. CoreCivic had a net margin of 5.24% and a return on equity of 7.38%. The firm had revenue of $580.44 million during the quarter, compared to analyst estimates of $544.38 million. During the same period in the previous year, the firm earned $0.43 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. CoreCivic has set its FY 2025 guidance at 1.940-2.000 EPS. On average, sell-side analysts forecast that CoreCivic, Inc. will post 1.5 earnings per share for the current year.

CoreCivic announced that its Board of Directors has approved a stock repurchase plan on Monday, November 10th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CXW. Advisors Asset Management Inc. purchased a new position in CoreCivic during the second quarter worth about $25,000. Covestor Ltd grew its holdings in CoreCivic by 31,516.7% in the 3rd quarter. Covestor Ltd now owns 1,897 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 1,891 shares during the period. CWM LLC increased its stake in shares of CoreCivic by 80.1% during the 2nd quarter. CWM LLC now owns 2,186 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 972 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of 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 acquiring an additional 702 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of CoreCivic by 9.9% in the second quarter. GAMMA Investing LLC now owns 5,667 shares of the real estate investment trust’s stock worth $119,000 after acquiring an additional 511 shares during the last quarter. 85.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CXW shares. Wall Street Zen cut shares of CoreCivic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CoreCivic in a report on Wednesday, October 8th. Finally, Jones Trading reiterated a “buy” rating and issued a $30.00 target price on shares of CoreCivic in a research report on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, CoreCivic has an average rating of “Moderate Buy” and a consensus target price of $34.00.

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.