Anthony Grande Sells 7,436 Shares of CoreCivic (NYSE:CXW) Stock

Key Points

• CoreCivic EVP Anthony Grande sold 7,436 shares at an average price of $34.25, totaling $254,683 and reducing his direct stake by 4.51% to 157,346 shares.
• CoreCivic reported quarterly EPS of $0.38, beating estimates by $0.04, while revenue rose 27.3% year over year to $684.92 million. The company also authorized a $500 million share-repurchase plan, covering up to 15.7% of outstanding shares.
• Despite shares trading down 2.2% to $33.11, analysts maintained a generally positive outlook: the stock carries a consensus “Buy” rating and a $37 average price target, with institutional investors owning 85.13% of shares.

CoreCivic, Inc. (NYSE:CXW - Get Free Report) EVP Anthony Grande sold 7,436 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $34.25, for a total transaction of $254,683.00. Following the completion of the transaction, the executive vice president directly owned 157,346 shares in the company, valued at $5,389,100.50. The trade was a 4.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

CoreCivic Trading Down 2.2%

CXW stock traded down $0.73 during mid-day trading on Tuesday, hitting $33.11. 986,780 shares of the company were exchanged, compared to its average volume of 1,210,414. CoreCivic, Inc. has a 12-month low of $15.73 and a 12-month high of $34.86. The firm has a market capitalization of $3.27 billion, a P/E ratio of 26.48 and a beta of 0.58. The business has a fifty day simple moving average of $31.12 and a 200-day simple moving average of $24.01. 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 released its quarterly 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 business had revenue of $684.92 million for 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 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 EPS. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. On average, equities research analysts predict that CoreCivic, Inc. will post 2.69 earnings per share for the current fiscal year.

CoreCivic announced that its Board of Directors has initiated a share repurchase plan 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 plans are typically an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On CoreCivic

Several institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. grew its position in shares of CoreCivic by 533.9% during the fourth quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 1,228 shares during the last quarter. Persistent Asset Partners Ltd purchased a new stake in CoreCivic in the 2nd quarter valued at $52,000. Leonteq Securities AG acquired a new stake in CoreCivic during the 4th quarter worth $57,000. Smartleaf Asset Management LLC boosted its stake in CoreCivic by 33.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust's stock worth $59,000 after purchasing an additional 702 shares during the period. Finally, Fifth Third Bancorp grew its position in CoreCivic by 320.7% during the 4th quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust's stock worth $64,000 after purchasing an additional 2,546 shares during the last quarter. Hedge funds and other institutional investors own 85.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Benchmark raised their price target on CoreCivic from $41.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. JonesTrading reissued a "buy" rating and set a $30.00 target price on shares of CoreCivic in a research note on Wednesday, August 5th. Wall Street Zen upgraded CoreCivic from a "hold" rating to a "buy" rating in a report on Monday, August 10th. Northland Securities set a $40.00 target price on CoreCivic in a research report on Friday, June 26th. Finally, UBS Group set a $35.00 price target on shares of CoreCivic in a research note on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus 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.

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