CoreCivic, Inc. $CXW Shares Newly Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management purchased 2.91 million CoreCivic shares worth approximately $93.8 million, giving it a 2.94% stake. Institutional investors and hedge funds collectively owned 85.13% of the company.
• Analyst sentiment was positive, with CoreCivic holding an average “Buy” rating and a consensus price target of $39.40. The company also reported quarterly EPS of $0.38, exceeding the $0.34 estimate, while revenue rose 27.3% year over year.
• CoreCivic authorized a $500 million share repurchase program, allowing it to buy back up to 15.7% of outstanding shares. However, insiders sold 459,287 shares worth approximately $15.4 million over the prior 90 days.

Assenagon Asset Management S.A. bought a new stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,908,190 shares of the real estate investment trust's stock, valued at approximately $93,789,000. Assenagon Asset Management S.A. owned approximately 2.94% of CoreCivic at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CXW. BlackRock Inc. acquired a new stake in shares of CoreCivic during the second quarter worth $480,557,000. Lee Danner & Bass Inc. grew its stake in CoreCivic by 273.1% during the 1st quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust's stock worth $41,101,000 after buying an additional 1,590,940 shares during the last quarter. Park West Asset Management LLC bought a new position in CoreCivic during the 2nd quarter worth $27,310,000. JB Capital Partners LP acquired a new stake in CoreCivic in the second quarter worth $25,677,480. Finally, Deutsche Bank AG acquired a new stake in CoreCivic in the second quarter worth $18,805,000. 85.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CXW has been the subject of a number of analyst reports. Weiss Ratings raised shares of CoreCivic from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday. UBS Group set a $35.00 price target on shares of CoreCivic in a research note on Tuesday, July 7th. Northland Securities set a $40.00 price target on shares of CoreCivic in a research note on Friday, June 26th. Wall Street Zen raised CoreCivic from a "hold" rating to a "buy" rating in a report on Monday, August 10th. Finally, Benchmark boosted their price objective on CoreCivic from $41.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, CoreCivic currently has an average rating of "Buy" and an average price target of $39.40.

Insider Buying and Selling at CoreCivic

In other CoreCivic news, Director John R. Prann, Jr. sold 3,098 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $34.00, for a total value of $105,332.00. Following the completion of the sale, the director owned 5,000 shares in the company, valued at $170,000. This represents a 38.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Emkes sold 30,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $34.25, for a total transaction of $1,027,500.00. Following the completion of the sale, the director owned 141,274 shares of the company's stock, valued at approximately $4,838,634.50. The trade was a 17.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 459,287 shares of company stock valued at $15,431,193 in the last 90 days. Corporate insiders own 1.76% of the company's stock.

CoreCivic Stock Performance

CoreCivic stock opened at $30.67 on Friday. CoreCivic, Inc. has a fifty-two week low of $15.73 and a fifty-two week high of $36.55. The firm's 50 day simple moving average is $33.28 and its 200-day simple moving average is $28.01. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market cap of $3.03 billion, a P/E ratio of 13.64 and a beta of 0.57.

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

CoreCivic announced that its Board of Directors has initiated a stock buyback program on Monday, August 10th that permits the company to repurchase $500.00 million in 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 often a sign that the company's board of directors believes its stock is undervalued.

CoreCivic Company Profile

CoreCivic, Inc is a diversified government-services company that develops, owns and manages correctional and detention facilities in the United States. Formerly known as Corrections Corporation of America, the company adopted the CoreCivic name in 2016. It works with federal, state and local government agencies to provide secure facilities and related services.

CoreCivic's operations include the management of correctional and detention facilities, the operation of residential reentry centers and other community corrections programs, and the provision of transportation and monitoring services.

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