Deutsche Bank AG Invests $18.80 Million in CoreCivic, Inc. $CXW

Key Points

• Deutsche Bank acquired 618,995 CoreCivic shares worth approximately $18.8 million, giving it a 0.63% stake. Institutional investors collectively own 85.13% of the company.
• Analysts remain bullish, with CoreCivic holding a consensus “Buy” rating and an average price target of $37; Benchmark raised its target to $45.
• CoreCivic reported quarterly EPS of $0.38, beating estimates, while revenue rose 27.3% year over year. The board also authorized a $500 million share-repurchase program, although insiders sold more than $12.9 million of stock over the past 90 days.

Deutsche Bank AG bought a new stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 618,995 shares of the real estate investment trust's stock, valued at approximately $18,805,000. Deutsche Bank AG owned about 0.63% of CoreCivic as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of CXW. NBC Securities Inc. lifted its position in CoreCivic by 533.9% in the fourth quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust's stock worth $28,000 after buying an additional 1,228 shares during the last quarter. Persistent Asset Partners Ltd bought a new position in CoreCivic during the second quarter valued at $52,000. Leonteq Securities AG bought a new position in CoreCivic during the fourth quarter valued at $57,000. Smartleaf Asset Management LLC raised its stake in shares of CoreCivic by 33.0% in the second quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust's stock valued at $59,000 after acquiring an additional 702 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of CoreCivic by 320.7% in the fourth quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust's stock valued at $64,000 after acquiring an additional 2,546 shares during the period. Hedge funds and other institutional investors own 85.13% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Benchmark raised their target price on shares of CoreCivic from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Noble Financial reiterated an "outperform" rating on shares of CoreCivic in a report on Monday, August 10th. Wall Street Zen raised shares of CoreCivic from a "hold" rating to a "buy" rating in a research report on Monday, August 10th. Northland Securities set a $40.00 price objective on shares of CoreCivic in a research note on Friday, June 26th. Finally, JonesTrading restated a "buy" rating and set a $30.00 target price on shares of CoreCivic in a research report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, CoreCivic currently has a consensus rating of "Buy" and an average price target of $37.00.

Insider Activity at CoreCivic

In other CoreCivic news, Director Thurgood Marshall, Jr. sold 7,100 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.00, for a total value of $241,400.00. Following the transaction, the director directly owned 45,274 shares in the company, valued at $1,539,316. This represents a 13.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John R. Prann, Jr. sold 22,298 shares of the firm'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 transaction, the director directly owned 8,098 shares in the company, valued at approximately $275,332. This trade represents a 73.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 386,189 shares of company stock worth $12,921,387 over the last ninety days. 1.76% of the stock is currently owned by company insiders.

CoreCivic Stock Performance

CXW stock opened at $34.00 on Friday. CoreCivic, Inc. has a twelve month low of $15.73 and a twelve month high of $34.86. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 27.20 and a beta of 0.58. The business's fifty day simple moving average is $31.00 and its two-hundred day simple moving average is $23.86. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.86.

CoreCivic (NYSE:CXW - Get Free Report) last issued 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. The firm had revenue of $684.92 million during the quarter, compared to analyst estimates of $618.63 million. CoreCivic had a net margin of 5.15% and a return on equity of 9.22%. The business's revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. Analysts predict that CoreCivic, Inc. will post 2.69 earnings per share for the current year.

CoreCivic declared that its Board of Directors has initiated a stock repurchase program on Monday, August 10th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to buy up to 15.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its shares are undervalued.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source