CoreCivic, Inc. $CXW Shares Newly Bought by Hanseatic Management Services Inc.

Key Points

• Hanseatic Management Services bought 37,848 CoreCivic shares worth approximately $1.22 million in the third quarter. Institutional investors collectively own 85.13% of the company.
• CoreCivic exceeded quarterly earnings and revenue expectations, reporting EPS of $0.38 and revenue of $684.92 million. The board also authorized a $500 million share-repurchase program, covering up to 15.7% of outstanding shares.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and a $39.40 price target, although insiders sold $15.43 million of stock during the quarter.

Hanseatic Management Services Inc. purchased a new position in CoreCivic, Inc. (NYSE:CXW - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 37,848 shares of the real estate investment trust's stock, valued at approximately $1,221,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in CoreCivic by 48.4% during the third quarter. Farther Finance Advisors LLC now owns 1,340 shares of the real estate investment trust's stock valued at $43,000 after purchasing an additional 437 shares in the last quarter. USA Financial Formulas acquired a new position in shares of CoreCivic in the 3rd quarter worth approximately $48,000. Persistent Asset Partners Ltd acquired a new position in shares of CoreCivic in the 2nd quarter worth approximately $52,000. Public Employees Retirement System of Ohio acquired a new position in shares of CoreCivic in the 2nd quarter worth approximately $120,000. Finally, State of Wyoming bought a new position in shares of CoreCivic during the 2nd quarter worth approximately $205,000. Institutional investors and hedge funds own 85.13% of the company's stock.

CoreCivic Price Performance

CoreCivic stock opened at $30.56 on Thursday. The business's fifty day moving average is $32.78 and its two-hundred day moving average is $25.63. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $3.02 billion, a P/E ratio of 24.45 and a beta of 0.57. CoreCivic, Inc. has a 52 week low of $15.73 and a 52 week high of $36.55.

CoreCivic (NYSE:CXW - Get Free Report) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.04. The company had revenue of $684.92 million during the quarter, compared to analyst estimates of $618.63 million. CoreCivic had a return on equity of 9.22% and a net margin of 5.15%. The firm's quarterly revenue was up 27.3% compared to the same quarter last year. During the same period last year, the company posted $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. Equities research analysts forecast that CoreCivic, Inc. will post 2.69 earnings per share for the current fiscal year.

CoreCivic announced that its board has authorized a share repurchase program on Monday, August 10th that permits the company to repurchase $500 million in outstanding shares. This buyback authorization permits the real estate investment trust to buy up to 15.7% of its shares through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, Director Mark A. Emkes sold 30,000 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $34.25, for a total transaction of $1,027,500.00. Following the transaction, the director directly owned 141,274 shares in the company, valued at approximately $4,838,634.50. This represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daren Swenson sold 20,000 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $34.85, for a total transaction of $697,000.00. Following the sale, the executive vice president directly owned 142,666 shares in the company, valued at $4,971,910.10. This trade represents a 12.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 459,287 shares of company stock worth $15,431,193. 1.76% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wall Street Zen lowered CoreCivic from a "buy" rating to a "hold" rating in a research note on Saturday, October 24th. Benchmark boosted their target price on shares of CoreCivic from $41.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, August 7th. TD Cowen reaffirmed a "hold" rating on shares of CoreCivic in a report on Friday, October 23rd. JonesTrading reaffirmed a "buy" rating and issued a $42.00 target price on shares of CoreCivic in a report on Friday, September 18th. Finally, UBS Group set a $35.00 target price on shares of CoreCivic in a research report on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $39.40.

About CoreCivic

CoreCivic, Inc is a diversified government solutions company that owns, manages and develops correctional and detention facilities in the United States. The company provides detention and corrections services to federal, state and local government agencies, primarily under contracts that call for the housing and care of individuals in custody.

In addition to secure facilities, CoreCivic operates residential reentry centers and provides community-based services designed to support individuals transitioning from incarceration.

Want to see what other hedge funds are holding CXW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CoreCivic, Inc. (NYSE:CXW - Free Report).

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.