CoreCivic (NYSE:CXW) CFO Sells $1,698,000.00 in Stock

Key Points

• CoreCivic CFO David Garfinkle sold 50,000 shares at an average price of $33.96, generating $1.698 million and reducing his ownership by 14.56%. He had also sold shares in three earlier August transactions.
• CoreCivic shares rose 1.5% to $34.00, near the stock’s 12-month high of $34.86. The company recently exceeded quarterly earnings and revenue expectations, with revenue up 27.3% year over year.
• 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 $37.00, while institutional investors own 85.13% of the stock.

CoreCivic, Inc. (NYSE:CXW - Get Free Report) CFO David Garfinkle sold 50,000 shares of the firm's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $33.96, for a total transaction of $1,698,000.00. Following the completion of the sale, the chief financial officer owned 293,353 shares of the company's stock, valued at $9,962,267.88. The trade was a 14.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, August 17th, David Garfinkle sold 50,000 shares of CoreCivic stock. The shares were sold at an average price of $33.76, for a total transaction of $1,688,000.00.
• On Thursday, August 13th, David Garfinkle sold 491 shares of CoreCivic stock. The stock was 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 Up 1.5%

CoreCivic stock traded up $0.49 during midday trading on Friday, reaching $34.00. The stock had a trading volume of 2,437,395 shares, compared to its average volume of 1,210,939. CoreCivic, Inc. has a 12 month low of $15.73 and a 12 month high of $34.86. The company has a market capitalization of $3.36 billion, a P/E ratio of 27.20 and a beta of 0.58. The company has a fifty day moving average price of $30.86 and a two-hundred day moving average price of $23.79. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.86.

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 for the quarter, topping analysts' consensus estimates of $0.34 by $0.04. CoreCivic had a return on equity of 9.22% and a net margin of 5.15%.The business had revenue of $684.92 million for the quarter, compared to the consensus estimate of $618.63 million. During the same period in the prior year, the business earned $0.59 EPS. The firm's revenue for the quarter was up 27.3% on a year-over-year basis. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. As a group, equities analysts expect that CoreCivic, Inc. will post 2.69 EPS for the current fiscal year.

CoreCivic declared that its Board of Directors has authorized a share repurchase program on Monday, August 10th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to purchase up to 15.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On CoreCivic

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in CoreCivic by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust's stock worth $242,955,000 after purchasing an additional 138,846 shares during the last quarter. Lee Danner & Bass Inc. increased its stake in CoreCivic by 20.1% in the 4th quarter. Lee Danner & Bass Inc. now owns 582,558 shares of the real estate investment trust's stock valued at $11,133,000 after buying an additional 97,413 shares during the last quarter. KCM Capital Inc purchased a new stake in CoreCivic in the 1st quarter valued at about $10,400,000. Empowered Funds LLC bought a new position in shares of CoreCivic during the 1st quarter worth approximately $4,785,000. Finally, Caxton Associates LLP bought a new position in shares of CoreCivic during the 1st quarter worth approximately $310,000. Institutional investors own 85.13% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CXW. Weiss Ratings raised shares of CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, July 1st. JonesTrading reaffirmed a "buy" rating and issued a $30.00 price objective on shares of CoreCivic in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of CoreCivic from a "hold" rating to a "buy" rating in a report on Monday, August 10th. Benchmark boosted their target price on shares of CoreCivic from $41.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, UBS Group set a $35.00 target price on shares of CoreCivic in a report on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average 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.

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