The Manufacturers Life Insurance Company Acquires New Shares in CoreCivic, Inc. $CXW

The Manufacturers Life Insurance Company acquired a new position in CoreCivic, Inc. (NYSE:CXW) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 48,005 shares of the real estate investment trust’s stock, valued at approximately $1,458,000.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in CoreCivic during the second quarter valued at about $480,557,000. Lee Danner & Bass Inc. increased its holdings in shares of CoreCivic by 273.1% during 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 during the last quarter. Rubric Capital Management LP increased its holdings in shares of CoreCivic by 140.6% during the 3rd quarter. Rubric Capital Management LP now owns 1,961,446 shares of the real estate investment trust’s stock valued at $39,915,000 after acquiring an additional 1,146,166 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of CoreCivic by 361.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,260,637 shares of the real estate investment trust’s stock valued at $26,562,000 after acquiring an additional 987,375 shares in the last quarter. Finally, JB Capital Partners LP bought a new position in shares of CoreCivic in the 2nd quarter valued at approximately $25,677,480. 85.13% of the stock is owned by institutional investors and hedge funds.

CoreCivic Stock Performance

CXW opened at $33.68 on Friday. The firm has a market capitalization of $3.33 billion, a P/E ratio of 26.94 and a beta of 0.60. The stock’s 50 day moving average price is $31.81 and its two-hundred day moving average price is $24.84. 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, Inc. has a 12-month low of $15.73 and a 12-month high of $34.86.

CoreCivic (NYSE:CXW) last issued its quarterly 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 company 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 business posted $0.59 EPS. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. On average, equities analysts forecast that CoreCivic, Inc. will post 2.69 earnings per share for the current year.

CoreCivic announced that its board has authorized a stock buyback plan on Monday, August 10th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 15.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at CoreCivic

In related news, EVP Lucibeth Mayberry sold 120,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $33.29, for a total transaction of $3,994,800.00. Following the transaction, the executive vice president owned 149,329 shares of the company’s stock, valued at approximately $4,971,162.41. The trade was a 44.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director R Jr sold 40,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $33.54, for a total transaction of $1,341,600.00. Following the transaction, the director owned 30,396 shares of the company’s stock, valued at approximately $1,019,481.84. The trade was a 56.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 439,287 shares of company stock valued at $14,734,193 in the last three months. 1.76% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wall Street Zen raised CoreCivic from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. Weiss Ratings raised shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Benchmark boosted their price objective on shares of CoreCivic from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. UBS Group set a $35.00 target price on shares of CoreCivic in a research note on Tuesday, July 7th. Finally, Northland Securities set a $40.00 target price on shares of CoreCivic in a report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $37.00.

CoreCivic Profile

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.