CoreCivic (NYSE:CXW) CFO David Garfinkle Sells 50,000 Shares of Stock

Key Points

• CoreCivic CFO David Garfinkle sold 50,000 shares at an average price of $33.76, generating approximately $1.69 million; he retains 343,353 shares. He also sold 3,661 additional shares in transactions earlier that week.
• CoreCivic reported quarterly EPS of $0.38, beating estimates of $0.34, while revenue rose 27.3% year over year to $684.92 million. The company issued fiscal 2026 EPS guidance of $2.61–$2.70.
• The board authorized a $500 million share repurchase program, covering up to 15.7% of outstanding shares. Analysts maintain a consensus “Buy” rating with an average price target of $37, compared with a recent share price of $32.35.

CoreCivic, Inc. (NYSE:CXW - Get Free Report) CFO David Garfinkle sold 50,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $33.76, for a total value of $1,688,000.00. Following the completion of the sale, the chief financial officer directly owned 343,353 shares of the company's stock, valued at $11,591,597.28. This represents a 12.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

David Garfinkle also recently made the following trade(s):

• On Thursday, August 13th, David Garfinkle sold 491 shares of CoreCivic stock. The shares were 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 shares were sold at an average price of $34.27, for a total value of $108,635.90.

CoreCivic Stock Performance

CoreCivic stock traded down $1.23 on Tuesday, hitting $32.35. The company's stock had a trading volume of 1,084,923 shares, compared to its average volume of 1,372,718. CoreCivic, Inc. has a one year low of $15.73 and a one year high of $34.86. The firm has a market cap of $3.20 billion, a P/E ratio of 25.88 and a beta of 0.58. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.86. The company has a fifty day moving average price of $30.62 and a 200-day moving average price of $23.60.

CoreCivic (NYSE:CXW - Get Free Report) last posted its quarterly earnings results 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 analyst estimates of $618.63 million. During the same quarter in the prior year, the business posted $0.59 earnings per share. The company'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, equities analysts anticipate that CoreCivic, Inc. will post 2.69 earnings per share for the current year.

CoreCivic announced that its board has initiated a stock repurchase program on Monday, August 10th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy up to 15.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Institutional Trading of CoreCivic

Several institutional investors have recently modified their holdings of CXW. NBC Securities Inc. increased its stake in shares of CoreCivic by 533.9% in the 4th quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 1,228 shares in the last quarter. Persistent Asset Partners Ltd bought a new stake in CoreCivic during the second quarter worth $52,000. Leonteq Securities AG purchased a new stake in CoreCivic in the 4th quarter valued at $57,000. Smartleaf Asset Management LLC grew its stake 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 worth $59,000 after acquiring an additional 702 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of CoreCivic by 320.7% during the fourth quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust's stock valued at $64,000 after purchasing an additional 2,546 shares in the last quarter. Institutional investors own 85.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CXW. UBS Group set a $35.00 target price 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. Weiss Ratings raised shares of CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 1st. Benchmark boosted their price objective on CoreCivic from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, Wall Street Zen raised 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, the stock currently has an average rating of "Buy" and a consensus target price of $37.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source