CoreCivic (NYSE:CXW) Director Harley Lappin Sells 22,032 Shares of Stock

Key Points

• Director Harley Lappin sold 22,032 CoreCivic shares for approximately $727,497, reducing his direct holdings by 29.24% to 53,328 shares.
• CoreCivic authorized a $500 million share-buyback program, allowing repurchases of up to 15.7% of outstanding shares, while the stock traded near its 52-week high.
• Analyst sentiment remains favorable: Noble raised earnings estimates, Benchmark increased its price target to $45, and the consensus rating is “Buy” with an average target of $37. However, additional insider selling could weigh on investor sentiment.

CoreCivic, Inc. (NYSE:CXW - Get Free Report) Director Harley Lappin sold 22,032 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $33.02, for a total transaction of $727,496.64. Following the completion of the transaction, the director directly owned 53,328 shares of the company's stock, valued at approximately $1,760,890.56. This represents a 29.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

CoreCivic Stock Performance

Shares of NYSE:CXW traded up $1.11 on Friday, hitting $32.71. 1,803,428 shares of the company were exchanged, compared to its average volume of 1,197,325. The firm has a market capitalization of $3.23 billion, a P/E ratio of 26.17 and a beta of 0.58. 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, Inc. has a 1-year low of $15.73 and a 1-year high of $34.86. The stock's 50 day moving average price is $30.12 and its 200 day moving average price is $23.30.

CoreCivic declared that its Board of Directors has initiated a share buyback program on Monday, August 10th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the real estate investment trust to reacquire up to 15.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Key Headlines Impacting CoreCivic

Here are the key news stories impacting CoreCivic this week:

• Positive Sentiment: Noble Financial raised earnings forecasts: The firm lifted its Q3 2026 EPS estimate to $0.64 from $0.62, Q4 to $0.78 from $0.71, FY2026 to $2.70 from $2.61, and FY2027 to $3.62 from $3.19. Noble maintained an “Outperform” rating, indicating increased confidence in CoreCivic’s earnings outlook. Noble Financial increases CoreCivic earnings estimates
• Positive Sentiment: $500 million buyback supports the stock: CoreCivic’s board authorized repurchases of up to approximately 15.7% of outstanding shares. The plan could boost future earnings per share, provide buying support and signal that management believes the stock is undervalued.
• Positive Sentiment: Analyst sentiment remains favorable: CoreCivic has a reported consensus “Buy” rating and an average price target of $37. Benchmark recently raised its target to $45, reinforcing the potential for additional upside if the improved earnings outlook is delivered.
• Neutral Sentiment: Valuation leaves less room for disappointment: The shares are trading near their 52-week high and above both their 50-day and 200-day moving averages. Investors may expect upcoming quarterly results to validate Noble’s higher forecasts, increasing the risk of volatility if results fall short.
• Negative Sentiment: Multiple insiders sold shares: EVP Lucibeth Mayberry sold 120,000 shares for about $4.0 million, reducing her holdings by 44.56%. Director Devin Ignatius Murphy sold 8,098 shares worth roughly $274,000, while CFO David Garfinkle sold a combined 3,661 shares for approximately $125,000. The CFO retained a substantial position, but the cluster of sales may weigh on sentiment. CoreCivic insider sales

Institutional Investors Weigh In On CoreCivic

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position 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 valued at $242,955,000 after buying an additional 138,846 shares during the period. Lee Danner & Bass Inc. increased its holdings in CoreCivic by 20.1% in the fourth 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 in the last quarter. KCM Capital Inc acquired a new position in shares of CoreCivic in the first quarter worth about $10,400,000. Empowered Funds LLC acquired a new position in shares of CoreCivic in the first quarter worth about $4,785,000. Finally, Caxton Associates LLP purchased a new stake in shares of CoreCivic during the 1st quarter worth about $310,000. 85.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CXW shares. Noble Financial reiterated an "outperform" rating on shares of CoreCivic in a research note on Monday. JonesTrading reaffirmed a "buy" rating and set a $30.00 target price on shares of CoreCivic in a report on Wednesday, August 5th. Benchmark upped their target price on CoreCivic from $41.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 1st. Finally, Northland Securities set a $40.00 price target on shares of CoreCivic in a research report on Friday, June 26th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company 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.

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