Empowered Funds LLC Makes New $10.22 Million Investment in CoreCivic, Inc. $CXW

Key Points

• Empowered Funds LLC acquired 336,331 CoreCivic shares worth approximately $10.22 million, giving it a 0.34% stake. Institutional investors collectively own 85.13% of the company.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and an average price target of $37. CoreCivic recently exceeded quarterly EPS and revenue estimates, while revenue rose 27.3% year over year.
• CoreCivic authorized a $500 million share-repurchase program covering up to 15.7% of outstanding shares, although insiders sold approximately $14.7 million of stock over the past three months.

Empowered Funds LLC purchased a new stake in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 336,331 shares of the real estate investment trust's stock, valued at approximately $10,218,000. Empowered Funds LLC owned 0.34% of CoreCivic at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in CoreCivic by 49.2% during the 1st quarter. Royal Bank of Canada now owns 59,523 shares of the real estate investment trust's stock worth $1,207,000 after acquiring an additional 19,630 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of CoreCivic by 69.8% in the 1st quarter. AQR Capital Management LLC now owns 28,120 shares of the real estate investment trust's stock worth $571,000 after purchasing an additional 11,557 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of CoreCivic by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,828 shares of the real estate investment trust's stock valued at $1,315,000 after purchasing an additional 2,828 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in CoreCivic by 3,884.2% during the first quarter. Jones Financial Companies Lllp now owns 18,885 shares of the real estate investment trust's stock valued at $383,000 after buying an additional 18,411 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in CoreCivic by 2.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,467 shares of the real estate investment trust's stock worth $4,473,000 after buying an additional 4,977 shares in the last quarter. 85.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CXW has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of CoreCivic from a "hold" rating to a "buy" rating in a report on Monday, August 10th. Benchmark increased their price target on CoreCivic from $41.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Weiss Ratings upgraded CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, July 1st. Noble Financial reiterated an "outperform" rating on shares of CoreCivic in a research note on Monday, August 10th. Finally, Northland Securities set a $40.00 target price on shares of CoreCivic in a research report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $37.00.

CoreCivic Trading Up 0.1%

Shares of CoreCivic stock opened at $33.82 on Friday. 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 firm has a fifty day moving average price of $31.54 and a 200 day moving average price of $24.39. CoreCivic, Inc. has a 1 year low of $15.73 and a 1 year high of $34.86. The stock has a market cap of $3.34 billion, a PE ratio of 27.06 and a beta of 0.58.

CoreCivic (NYSE:CXW - Get Free Report) last posted 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 company had revenue of $684.92 million during 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 firm's quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. Equities research analysts predict that CoreCivic, Inc. will post 2.69 earnings per share for the current year.

CoreCivic announced that its board has approved a stock buyback plan on Monday, August 10th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to buy up to 15.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director John R. Prann, Jr. sold 3,098 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $105,332.00. Following the sale, the director owned 5,000 shares of the company's stock, valued at $170,000. This trade represents a 38.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David Garfinkle sold 50,000 shares of CoreCivic stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $33.96, for a total transaction of $1,698,000.00. Following the transaction, the chief financial officer directly owned 293,353 shares of the company's stock, valued at approximately $9,962,267.88. This trade represents a 14.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 439,287 shares of company stock valued at $14,734,193 in the last three months. 1.76% of the stock is currently owned by insiders.

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.

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