BlackRock Inc. acquired a new position in CoreCivic, Inc. (NYSE:CXW - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,818,214 shares of the real estate investment trust's stock, valued at approximately $480,557,000. BlackRock Inc. owned 16.00% of CoreCivic at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of CoreCivic by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust's stock valued at $242,955,000 after purchasing an additional 138,846 shares during the period. River Road Asset Management LLC grew its stake in CoreCivic by 3.3% in the fourth quarter. River Road Asset Management LLC now owns 8,978,240 shares of the real estate investment trust's stock worth $171,574,000 after purchasing an additional 287,108 shares during the period. Lee Danner & Bass Inc. raised its holdings in CoreCivic by 273.1% in the first quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust's stock worth $41,101,000 after purchasing an additional 1,590,940 shares in the last quarter. Rubric Capital Management LP raised its holdings in CoreCivic by 5.0% in the first quarter. Rubric Capital Management LP now owns 2,059,216 shares of the real estate investment trust's stock worth $38,940,000 after purchasing an additional 97,770 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in CoreCivic by 361.3% during the second quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust's stock valued at $26,562,000 after buying an additional 987,375 shares during the period. 85.13% of the stock is owned by institutional investors.
Analyst Ratings Changes
CXW has been the topic of a number of research reports. JonesTrading restated a "buy" rating and set a $30.00 target price on shares of CoreCivic in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of CoreCivic from a "hold" rating to a "buy" rating in a research note on Monday, August 10th. Northland Securities set a $40.00 price target on shares of CoreCivic in a research report on Friday, June 26th. Benchmark boosted their price objective on shares of CoreCivic from $41.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded shares of CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CoreCivic currently has a consensus rating of "Buy" and an average price target of $37.00.
Get Our Latest Analysis on CoreCivic
Insider Activity at CoreCivic
In other CoreCivic news, EVP Anthony L. Grande sold 29,199 shares of CoreCivic stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $33.61, for a total value of $981,378.39. Following the completion of the transaction, the executive vice president directly owned 164,782 shares of the company's stock, valued at approximately $5,538,323.02. The trade was a 15.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John R. Prann, Jr. sold 22,298 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $34.00, for a total transaction of $758,132.00. Following the completion of the transaction, the director owned 8,098 shares in the company, valued at approximately $275,332. This represents a 73.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 386,189 shares of company stock worth $12,921,387 in the last ninety days. 1.76% of the stock is currently owned by company insiders.
CoreCivic Stock Down 0.5%
Shares of NYSE:CXW opened at $33.84 on Tuesday. 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 fifty day simple moving average of $31.12 and a two-hundred day simple moving average of $24.01. CoreCivic, Inc. has a 12-month low of $15.73 and a 12-month high of $34.86. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 27.07 and a beta of 0.58.
CoreCivic (NYSE:CXW - Get Free Report) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.04. The firm had revenue of $684.92 million for the quarter, compared to analysts' expectations of $618.63 million. CoreCivic had a return on equity of 9.22% and a net margin of 5.15%.The company's quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. On average, research analysts anticipate that CoreCivic, Inc. will post 2.69 earnings per share 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 repurchase $500.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 15.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.
CoreCivic Company Profile
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Free Report)
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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