CoreCivic (NYSE:CXW) EVP Daren Swenson Sells 20,000 Shares of Stock

Key Points

• Insider sale: EVP Daren Swenson sold 20,000 CoreCivic shares at an average price of $34.85, generating $697,000 and reducing his direct ownership by 12.3% to 142,666 shares.
• Stock performance and outlook: CoreCivic shares rose 1.5% to $34.93, near their 12-month high of $35.30. Analysts maintain a consensus “Buy” rating with a $37 price target.
• Business developments: CoreCivic beat quarterly earnings and revenue estimates, while its board authorized a $500 million share-buyback program covering up to 15.7% of outstanding shares.

CoreCivic, Inc. (NYSE:CXW - Get Free Report) EVP Daren Swenson sold 20,000 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $34.85, for a total transaction of $697,000.00. Following the completion of the sale, the executive vice president directly owned 142,666 shares of the company's stock, valued at $4,971,910.10. This trade represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CoreCivic Stock Up 1.5%

Shares of CXW stock traded up $0.52 during trading on Friday, hitting $34.93. 2,768,650 shares of the company were exchanged, compared to its average volume of 1,248,695. The business's 50-day simple moving average is $32.20 and its 200 day simple moving average is $25.41. CoreCivic, Inc. has a twelve month low of $15.73 and a twelve month high of $35.30. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 27.95 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 released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $618.63 million. CoreCivic had a net margin of 5.15% and a return on equity of 9.22%. The company's revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. As a group, analysts forecast that CoreCivic, Inc. will post 2.69 EPS for the current fiscal year.

CoreCivic announced that its Board of Directors has initiated a stock buyback program on Monday, August 10th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the real estate investment trust to purchase up to 15.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On CoreCivic

Large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company acquired a new stake in shares of CoreCivic in the second quarter worth about $1,458,000. BlackRock Inc. bought a new stake in shares of CoreCivic during the 2nd quarter worth about $480,557,000. Jupiter Topco LLC acquired a new position in shares of CoreCivic during the 2nd quarter valued at about $1,340,000. KCM Capital Inc acquired a new position in shares of CoreCivic during the 1st quarter valued at about $10,400,000. Finally, Bank of New York Mellon Corp bought a new position in shares of CoreCivic in the 2nd quarter valued at approximately $18,516,000. 85.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CXW. Noble Financial restated an "outperform" rating on shares of CoreCivic in a research note on Monday, August 10th. Wall Street Zen raised CoreCivic from a "hold" rating to a "buy" rating in a research note on Monday, August 10th. Weiss Ratings upgraded CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 1st. JonesTrading reissued a "buy" rating and issued a $30.00 price target on shares of CoreCivic in a research note on Wednesday, August 5th. Finally, UBS Group set a $35.00 price objective on CoreCivic in a report on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $37.00.

CoreCivic Company Profile

CoreCivic, Inc NYSE: CXW is a diversified government-solutions company that provides detention, corrections and residential reentry services. The company partners with federal, state and local government agencies to design, develop, own, lease and manage correctional and detention facilities in the United States.

Through its CoreCivic Safety operations, the company manages correctional and detention facilities and provides related services, including security, inmate care, transportation and rehabilitation programs.

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