Insider Selling: CoreCivic (NYSE:CXW) Director Sells 22,298 Shares of Stock

Key Points

• CoreCivic Director John Prann Jr. sold 22,298 shares at an average price of $34, generating $758,132 and reducing his direct ownership by 73.36% to 8,098 shares.
• CoreCivic shares rose to $34.00, near their 52-week high of $34.86, while the company reported quarterly EPS of $0.38 and revenue of $684.92 million, both above analyst expectations.
• The board authorized a $500 million share-repurchase program 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) Director John Prann, Jr. sold 22,298 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $34.00, for a total value of $758,132.00. Following the sale, the director directly owned 8,098 shares in the company, valued at approximately $275,332. This trade represents a 73.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

CoreCivic Stock Performance

Shares of NYSE:CXW traded up $0.49 during trading on Friday, hitting $34.00. 2,437,395 shares of the stock traded hands, compared to its average volume of 1,210,939. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.86. The company has a fifty day moving average price of $30.86 and a two-hundred day moving average price of $23.79. CoreCivic, Inc. has a 52-week low of $15.73 and a 52-week high of $34.86. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 27.20 and a beta of 0.58.

CoreCivic (NYSE:CXW - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 EPS for the quarter, beating the consensus estimate of $0.34 by $0.04. The company 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 firm's revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the business earned $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. As a group, equities analysts predict that CoreCivic, Inc. will post 2.69 EPS for the current year.

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

Institutional Trading of CoreCivic

A number of hedge funds have recently bought and sold shares of CXW. PNC Financial Services Group Inc. grew its position in shares of CoreCivic by 1.6% during the first quarter. PNC Financial Services Group Inc. now owns 31,880 shares of the real estate investment trust's stock worth $603,000 after acquiring an additional 510 shares during the last quarter. State of Wyoming increased its holdings in shares of CoreCivic by 3.1% in the 1st quarter. State of Wyoming now owns 22,172 shares of the real estate investment trust's stock valued at $419,000 after acquiring an additional 659 shares during the period. Smartleaf Asset Management LLC raised 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 valued at $59,000 after purchasing an additional 702 shares during the last quarter. Bessemer Group Inc. boosted its stake in CoreCivic by 0.4% during the 1st quarter. Bessemer Group Inc. now owns 166,475 shares of the real estate investment trust's stock worth $3,148,000 after purchasing an additional 742 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in CoreCivic by 10.4% during the 2nd quarter. Lazard Asset Management LLC now owns 10,595 shares of the real estate investment trust's stock worth $223,000 after purchasing an additional 1,002 shares during the period. Institutional investors and hedge funds own 85.13% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CXW. Benchmark raised their price target on shares of CoreCivic from $41.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Noble Financial reissued an "outperform" rating on shares of CoreCivic in a report on Monday, August 10th. Weiss Ratings upgraded CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, July 1st. Northland Securities set a $40.00 price target on CoreCivic in a research note on Friday, June 26th. Finally, UBS Group set a $35.00 price target on CoreCivic in a research report on Tuesday, July 7th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target 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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