CoreCivic, Inc. $CXW Stock Sold by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC cut its CoreCivic stake by 96.6% in the third quarter, selling 253,873 shares and retaining 8,904 shares worth approximately $287,000. Institutional investors and hedge funds collectively own 85.13% of CXW.
• CoreCivic insiders sold 459,287 shares worth about $15.4 million during the past quarter, while the stock opened at $29.97, down 2.3%.
• The company exceeded quarterly earnings and revenue expectations and authorized a $500 million share-repurchase program. Analysts maintain a consensus “Buy” rating with an average price target of $39.40.

Counterpoint Mutual Funds LLC reduced its stake in CoreCivic, Inc. (NYSE:CXW - Free Report) by 96.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,904 shares of the real estate investment trust's stock after selling 253,873 shares during the quarter. Counterpoint Mutual Funds LLC's holdings in CoreCivic were worth $287,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CXW. BlackRock Inc. purchased a new position in CoreCivic in the 2nd quarter valued at about $480,557,000. Assenagon Asset Management S.A. purchased a new stake in shares of CoreCivic during the third quarter worth about $93,789,000. Lee Danner & Bass Inc. raised its position in shares of 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 valued at $41,101,000 after buying an additional 1,590,940 shares during the last quarter. Rubric Capital Management LP raised its position in shares of 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 valued at $38,940,000 after buying an additional 97,770 shares during the last quarter. Finally, Park West Asset Management LLC acquired a new position in shares of CoreCivic in the second quarter valued at approximately $27,310,000. Institutional investors and hedge funds own 85.13% of the company's stock.

Insider Buying and Selling

In other news, Director Mark A. Emkes sold 30,000 shares of CoreCivic stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $34.25, for a total value of $1,027,500.00. Following the transaction, the director directly owned 141,274 shares of the company's stock, valued at $4,838,634.50. The trade was a 17.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Anthony Grande sold 29,199 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $33.61, for a total transaction of $981,378.39. Following the sale, the executive vice president directly owned 164,782 shares of the company's stock, valued at approximately $5,538,323.02. This trade represents a 15.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 459,287 shares of company stock worth $15,431,193. Corporate insiders own 1.76% of the company's stock.

CoreCivic Trading Down 2.3%

Shares of CXW stock opened at $29.97 on Tuesday. The firm's 50-day simple moving average is $33.22 and its 200-day simple moving average is $28.15. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.32 and a quick ratio of 1.32. CoreCivic, Inc. has a 1-year low of $15.73 and a 1-year high of $36.55. The firm has a market cap of $2.96 billion, a P/E ratio of 13.39 and a beta of 0.57.

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

CoreCivic announced that its board has initiated a stock repurchase program on Monday, August 10th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to purchase up to 15.7% of its shares through open market purchases. Share repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CXW has been the topic of several recent analyst reports. Weiss Ratings raised shares of CoreCivic from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, October 13th. Northland Securities set a $40.00 target price on shares of CoreCivic in a research note on Friday, June 26th. Wall Street Zen upgraded CoreCivic from a "hold" rating to a "buy" rating in a report on Monday, August 10th. JonesTrading reiterated a "buy" rating and issued a $42.00 price target on shares of CoreCivic in a report on Friday, September 18th. Finally, Noble Financial restated an "outperform" rating on shares of CoreCivic in a report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, CoreCivic currently has a consensus rating of "Buy" and a consensus price target of $39.40.

About CoreCivic

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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