CoreCivic (NYSE:CXW) Director John Prann, Jr. Sells 8,000 Shares of Stock

CoreCivic, Inc. (NYSE:CXW) Director John Prann, Jr. sold 8,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $2,260,917.92. This trade represents a 7.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

CoreCivic Price Performance

CoreCivic stock opened at $20.19 on Tuesday. The stock has a market capitalization of $2.11 billion, a P/E ratio of 20.39 and a beta of 0.69. The company’s fifty day moving average price is $18.39 and its 200 day moving average price is $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. CoreCivic, Inc. has a 1 year low of $15.95 and a 1 year high of $23.85.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. The business had revenue of $580.44 million for the quarter, compared to the consensus estimate of $544.38 million. CoreCivic had a net margin of 5.24% and a return on equity of 7.38%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. CoreCivic has set its FY 2025 guidance at 1.940-2.000 EPS. As a group, equities research analysts anticipate that CoreCivic, Inc. will post 1.5 earnings per share for the current fiscal year.

CoreCivic announced that its board has initiated a stock buyback program on Monday, November 10th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 10.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On CoreCivic

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its stake in shares of CoreCivic by 141.0% in the 4th quarter. SG Americas Securities LLC now owns 553,388 shares of the real estate investment trust’s stock worth $10,575,000 after acquiring an additional 323,804 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of CoreCivic by 24.5% in the third quarter. JPMorgan Chase & Co. now owns 372,018 shares of the real estate investment trust’s stock valued at $7,571,000 after purchasing an additional 73,145 shares during the period. Cambria Investment Management L.P. increased its position in CoreCivic by 25.0% during the third quarter. Cambria Investment Management L.P. now owns 27,825 shares of the real estate investment trust’s stock worth $566,000 after purchasing an additional 5,562 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in CoreCivic during the third quarter worth about $234,000. Finally, Verition Fund Management LLC raised its stake in CoreCivic by 63.7% during the third quarter. Verition Fund Management LLC now owns 58,458 shares of the real estate investment trust’s stock worth $1,190,000 after purchasing an additional 22,744 shares during the period. Institutional investors and hedge funds own 85.13% of the company’s stock.

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.