Jupiter Topco LLC Takes $1.34 Million Position in CoreCivic, Inc. $CXW

Key Points

• Jupiter Topco acquired 44,116 CoreCivic shares worth approximately $1.34 million during the second quarter. Institutional investors and hedge funds collectively own 85.13% of CXW.
• CoreCivic exceeded quarterly expectations, reporting $0.38 in EPS versus the $0.34 consensus and $684.92 million in revenue, up 27.3% year over year.
• The board authorized a $500 million stock-repurchase program, while analysts maintain a consensus “Buy” rating with an average $37 price target. However, insiders sold roughly $14.7 million of shares over the past three months.

Jupiter Topco LLC purchased a new stake in CoreCivic, Inc. (NYSE:CXW - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 44,116 shares of the real estate investment trust's stock, valued at approximately $1,340,000.

A number of other hedge funds have also added to or reduced their stakes in CXW. Persistent Asset Partners Ltd purchased a new stake in shares of CoreCivic during the second quarter valued at approximately $52,000. Leonteq Securities AG bought a new position in CoreCivic in the 4th quarter valued at $57,000. Smartleaf Asset Management LLC grew its stake in 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. Fifth Third Bancorp increased its position in shares of CoreCivic by 320.7% during the 4th quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust's stock valued at $64,000 after purchasing an additional 2,546 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of CoreCivic during the 4th quarter worth $71,000. Institutional investors and hedge funds own 85.13% of the company's stock.

CoreCivic Stock Up 3.1%

CXW stock opened at $34.72 on Friday. The stock has a fifty day moving average of $31.89 and a 200-day moving average of $24.91. CoreCivic, Inc. has a fifty-two week low of $15.73 and a fifty-two week high of $34.86. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 27.78 and a beta of 0.60. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.32.

CoreCivic (NYSE:CXW - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $684.92 million for the quarter, compared to analysts' expectations of $618.63 million. CoreCivic had a return on equity of 9.22% and a net margin of 5.15%.The firm's quarterly revenue was up 27.3% compared to the same quarter last year. During the same period in the previous year, the business posted $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 earnings per share for the current year.

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

Insiders Place Their Bets

In related news, EVP Lucibeth Mayberry sold 120,000 shares of CoreCivic stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $33.29, for a total value of $3,994,800.00. Following the completion of the transaction, the executive vice president directly owned 149,329 shares in the company, valued at approximately $4,971,162.41. The trade was a 44.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anthony Grande sold 29,199 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $33.61, for a total value of $981,378.39. Following the sale, the executive vice president owned 164,782 shares in the company, valued at approximately $5,538,323.02. This represents a 15.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 439,287 shares of company stock worth $14,734,193 in the last three months. Insiders own 1.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JonesTrading reissued a "buy" rating and issued a $30.00 price target on shares of CoreCivic in a report on Wednesday, August 5th. Wall Street Zen raised shares of CoreCivic from a "hold" rating to a "buy" rating in a research report on Monday, August 10th. Noble Financial reaffirmed an "outperform" rating on shares of CoreCivic in a research report on Monday, August 10th. UBS Group set a $35.00 target price on shares of CoreCivic in a research report on Tuesday, July 7th. Finally, Northland Securities set a $40.00 price target on shares of CoreCivic in a research note on Friday, June 26th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $37.00.

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.

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