JB Capital Partners LP Acquires Shares of 845,210 CoreCivic, Inc. $CXW

Key Points

• JB Capital Partners LP acquired 845,210 shares of CoreCivic, representing approximately 0.85% of the company and about 4% of the firm’s portfolio. Institutional investors collectively own 85.13% of CoreCivic.
• Analyst sentiment remains positive: CoreCivic received multiple upgrades and maintains a consensus “Buy” rating, with an average price target of $37, compared with a recent share price of $34.
• CoreCivic exceeded quarterly earnings and revenue expectations and announced a $500 million share-repurchase program covering up to 15.7% of outstanding shares. However, insiders sold 386,189 shares worth approximately $12.9 million over the past three months.

JB Capital Partners LP bought a new position in CoreCivic, Inc. (NYSE:CXW - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 845,210 shares of the real estate investment trust's stock, valued at approximately $25,677,480,000. CoreCivic accounts for about 4.0% of JB Capital Partners LP's investment portfolio, making the stock its 9th largest holding. JB Capital Partners LP owned about 0.85% of CoreCivic as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CXW. PNC Financial Services Group Inc. boosted its position in CoreCivic by 1.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 31,880 shares of the real estate investment trust's stock valued at $603,000 after acquiring an additional 510 shares in the last quarter. State of Wyoming grew its stake in shares of CoreCivic by 3.1% during the 1st quarter. State of Wyoming now owns 22,172 shares of the real estate investment trust's stock worth $419,000 after purchasing an additional 659 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of CoreCivic by 33.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 702 shares during the period. Bessemer Group Inc. boosted its holdings in CoreCivic by 0.4% during the first quarter. Bessemer Group Inc. now owns 166,475 shares of the real estate investment trust's stock worth $3,148,000 after buying an additional 742 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in CoreCivic by 10.4% during the second quarter. Lazard Asset Management LLC now owns 10,595 shares of the real estate investment trust's stock valued at $223,000 after buying an additional 1,002 shares during the period. 85.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CXW. Weiss Ratings upgraded shares of CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, July 1st. UBS Group set a $35.00 target price on CoreCivic in a report on Tuesday, July 7th. Benchmark raised their price objective on shares of CoreCivic from $41.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Wall Street Zen upgraded shares of CoreCivic from a "hold" rating to a "buy" rating in a report on Monday, August 10th. Finally, Noble Financial reissued an "outperform" rating on shares of CoreCivic in a research note on Monday, August 10th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $37.00.

Insider Activity

In other CoreCivic news, EVP Lucibeth Mayberry sold 120,000 shares of the company's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $33.29, for a total transaction of $3,994,800.00. Following the sale, the executive vice president owned 149,329 shares in the company, valued at $4,971,162.41. This represents a 44.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Harley G. Lappin sold 22,032 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $33.02, for a total value of $727,496.64. Following the completion of the sale, the director directly owned 53,328 shares in the company, valued at $1,760,890.56. This represents a 29.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 386,189 shares of company stock worth $12,921,387 over the last three months. Company insiders own 1.76% of the company's stock.

CoreCivic Stock Up 1.5%

Shares of CXW opened at $34.00 on Friday. The company's 50-day moving average price is $31.00 and its 200 day moving average price is $23.86. CoreCivic, Inc. has a 12-month low of $15.73 and a 12-month high of $34.86. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.86. The firm has a market cap of $3.36 billion, a P/E ratio of 27.20 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 for the quarter, beating the consensus estimate of $0.34 by $0.04. The firm 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 revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 EPS. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. On average, sell-side analysts forecast that CoreCivic, Inc. will post 2.69 earnings per share for the current year.

CoreCivic announced that its Board of Directors has initiated a share buyback program on Monday, August 10th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the real estate investment trust to purchase up to 15.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

About CoreCivic

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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