John Prann Jr Sells 3,098 Shares of CoreCivic (NYSE:CXW) Stock

Key Points

• Director John Prann Jr. sold 3,098 CoreCivic shares at an average price of $34, generating $105,332 and reducing his direct stake by 38.26% to 5,000 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 stock traded near its 52-week high at $33.89.
• The company authorized a $500 million share buyback, covering up to 15.7% of outstanding shares. Analysts maintain a consensus “Buy” rating with an average price target of $37, while institutional investors own 85.13% of the stock.

CoreCivic, Inc. (NYSE:CXW - Get Free Report) Director John Prann, Jr. sold 3,098 shares of the company's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $34.00, for a total transaction of $105,332.00. Following the transaction, the director directly owned 5,000 shares of the company's stock, valued at $170,000. This trade represents a 38.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

CoreCivic Trading Up 2.3%

NYSE:CXW traded up $0.75 during trading hours on Wednesday, reaching $33.89. 1,917,951 shares of the company were exchanged, compared to its average volume of 1,214,758. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 27.11 and a beta of 0.58. The stock has a 50 day simple moving average of $31.23 and a 200 day simple moving average of $24.11. CoreCivic, Inc. has a 52-week low of $15.73 and a 52-week 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.

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 the consensus estimate of $0.34 by $0.04. The company had revenue of $684.92 million during the quarter, compared to analysts' expectations of $618.63 million. CoreCivic had a net margin of 5.15% and a return on equity of 9.22%. The business's quarterly revenue was up 27.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 EPS. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. As a group, analysts predict that CoreCivic, Inc. will post 2.69 EPS for the current year.

CoreCivic announced that its board has initiated a share buyback plan 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 reacquire up to 15.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

CXW has been the topic of a number of research reports. 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 shares of CoreCivic in a research report on Friday, June 26th. Noble Financial restated an "outperform" rating on shares of CoreCivic in a report on Monday, August 10th. JonesTrading reiterated a "buy" rating and set a $30.00 price objective on shares of CoreCivic in a research note on Wednesday, August 5th. Finally, Benchmark increased 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. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $37.00.

Hedge Funds Weigh In On CoreCivic

Several institutional investors and hedge funds have recently made changes to their positions in CXW. BlackRock Inc. bought a new stake in shares of CoreCivic during the second quarter valued at approximately $480,557,000. Vanguard Group Inc. grew its position in CoreCivic by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 12,713,519 shares of the real estate investment trust's stock worth $242,955,000 after acquiring an additional 138,846 shares during the last quarter. River Road Asset Management LLC increased its stake in shares of CoreCivic by 3.3% in the fourth quarter. River Road Asset Management LLC now owns 8,978,240 shares of the real estate investment trust's stock valued at $171,574,000 after buying an additional 287,108 shares in the last quarter. Lee Danner & Bass Inc. increased its position in CoreCivic by 273.1% in the 1st quarter. Lee Danner & Bass Inc. now owns 2,173,498 shares of the real estate investment trust's stock valued at $41,101,000 after acquiring an additional 1,590,940 shares in the last quarter. Finally, Rubric Capital Management LP raised its position in CoreCivic by 5.0% in the 1st quarter. Rubric Capital Management LP now owns 2,059,216 shares of the real estate investment trust's stock worth $38,940,000 after purchasing an additional 97,770 shares during the last quarter. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

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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