CoreCivic (NYSE:CXW) EVP Sells $3,994,800.00 in Stock

Key Points

• CoreCivic EVP Lucibeth Mayberry sold 120,000 shares at an average price of $33.29, generating $3.99 million and reducing her ownership by 44.56% to 149,329 shares.
• The company authorized a $500 million share-repurchase program, allowing it to buy back up to 15.7% of outstanding shares—often viewed as a signal that management considers the stock undervalued.
• CoreCivic shares traded near $33.52, close to their 12-month high of $34.86, while analysts maintained a broadly positive outlook with an average “Buy” rating and a $37 consensus price target.

CoreCivic, Inc. (NYSE:CXW - Get Free Report) EVP Lucibeth Mayberry sold 120,000 shares of CoreCivic stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $33.29, for a total value of $3,994,800.00. Following the completion of the sale, the executive vice president owned 149,329 shares of the company's stock, valued at $4,971,162.41. The trade was a 44.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

CoreCivic Stock Performance

NYSE:CXW traded down $0.40 during mid-day trading on Wednesday, reaching $33.52. The company's stock had a trading volume of 2,922,290 shares, compared to its average volume of 1,186,475. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.86. The stock has a market cap of $3.31 billion, a P/E ratio of 26.82 and a beta of 0.58. The firm's fifty day moving average price is $29.94 and its two-hundred day moving average price is $23.21. CoreCivic, Inc. has a 12-month low of $15.73 and a 12-month high of $34.86.

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

Institutional Trading of CoreCivic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. NBC Securities Inc. boosted its position in shares of CoreCivic by 533.9% during the fourth quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 1,228 shares during the last quarter. Persistent Asset Partners Ltd bought a new position in shares of CoreCivic during the 2nd quarter valued at approximately $52,000. Smartleaf Asset Management LLC raised its holdings in 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 valued at $59,000 after buying an additional 702 shares during the period. Leonteq Securities AG bought a new stake in CoreCivic in the fourth quarter worth $57,000. Finally, Fifth Third Bancorp boosted its stake in CoreCivic by 320.7% during the fourth quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust's stock worth $64,000 after buying an additional 2,546 shares during the period. Institutional investors own 85.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Northland Securities set a $40.00 price objective on shares of CoreCivic in a research report on Friday, June 26th. Weiss Ratings raised CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 1st. JonesTrading restated a "buy" rating and issued a $30.00 price target on shares of CoreCivic in a research note on Wednesday, August 5th. Wall Street Zen raised CoreCivic from a "hold" rating to a "buy" rating in a report on Monday. Finally, Noble Financial reiterated an "outperform" rating on shares of CoreCivic in a research report on Monday. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $37.00.

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.

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