CoreCivic (NYSE:CXW) EVP Anthony Grande Sells 12,564 Shares of Stock

Key Points

• CoreCivic EVP Anthony Grande sold 12,564 shares at an average price of $33.85, generating approximately $425,291; he retains 144,782 shares valued at about $4.9 million.
• CoreCivic shares rose 2.3% to $33.89, near their 52-week high, after the company reported quarterly revenue of $684.9 million and EPS of $0.38, both ahead of analyst expectations.
• The company authorized a $500 million share buyback, potentially covering up to 15.7% of outstanding shares. Analysts maintain a consensus “Buy” rating with an average price target of $37.

CoreCivic, Inc. (NYSE:CXW - Get Free Report) EVP Anthony Grande sold 12,564 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $33.85, for a total value of $425,291.40. Following the completion of the sale, the executive vice president directly owned 144,782 shares in the company, valued at approximately $4,900,870.70. This represents a 7.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

CoreCivic Stock Up 2.3%

CXW stock traded up $0.75 on Wednesday, reaching $33.89. 1,917,951 shares of the company traded hands, compared to its average volume of 1,214,758. CoreCivic, Inc. has a one year low of $15.73 and a one year high of $34.86. 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 company has a market cap of $3.35 billion, a P/E ratio of 27.11 and a beta of 0.58. The firm has a fifty day simple moving average of $31.23 and a 200-day simple moving average of $24.11.

CoreCivic (NYSE:CXW - Get Free Report) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. CoreCivic had a return on equity of 9.22% and a net margin of 5.15%.The business had revenue of $684.92 million for the quarter, compared to the consensus estimate of $618.63 million. During the same period in the previous year, the company posted $0.59 earnings per share. The company's revenue for the quarter was up 27.3% compared to the same quarter last year. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. Research analysts anticipate that CoreCivic, Inc. will post 2.69 earnings per share for the current year.

CoreCivic declared that its Board of Directors has initiated a share buyback 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 stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Benchmark lifted 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. Weiss Ratings upgraded shares of CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 1st. UBS Group set a $35.00 price objective on shares of CoreCivic in a report on Tuesday, July 7th. Noble Financial reaffirmed an "outperform" rating on shares of CoreCivic in a research report on Monday, August 10th. Finally, JonesTrading reiterated a "buy" rating and set a $30.00 target price on shares of CoreCivic in a research note on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, CoreCivic has an average rating of "Buy" and a consensus target price of $37.00.

Hedge Funds Weigh In On CoreCivic

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NBC Securities Inc. grew its stake in shares of 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 acquiring an additional 1,228 shares during the period. Persistent Asset Partners Ltd purchased a new stake in CoreCivic in the second quarter worth approximately $52,000. Leonteq Securities AG bought a new stake in CoreCivic in the 4th quarter worth approximately $57,000. Smartleaf Asset Management LLC grew its position 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 worth $59,000 after purchasing an additional 702 shares during the period. Finally, Fifth Third Bancorp raised its stake 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 valued at $64,000 after buying an additional 2,546 shares during the last quarter. Institutional investors own 85.13% of the company's stock.

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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