CoreCivic (NYSE:CXW) Shares Down 4.2% – Time to Sell?

CoreCivic, Inc. (NYSE:CXW) shares dropped 4.2% during trading on Monday . The stock traded as low as $33.86 and last traded at $33.74. 105,700 shares changed hands during trading, a decline of 92% from the average session volume of 1,273,657 shares. The stock had previously closed at $35.23.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CXW shares. JonesTrading restated a “buy” rating and issued a $42.00 price objective on shares of CoreCivic in a research report on Friday, September 18th. Northland Securities set a $40.00 price objective on shares of CoreCivic in a research report on Friday, June 26th. Benchmark lifted their price objective on CoreCivic from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. UBS Group set a $35.00 target price on CoreCivic in a research note on Tuesday, July 7th. Finally, Noble Financial reaffirmed an “outperform” rating on shares of CoreCivic in a research note on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $39.40.

CoreCivic Price Performance

The company has a 50 day simple moving average of $32.74 and a 200 day simple moving average of $26.36. 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 market capitalization of $3.12 billion, a price-to-earnings ratio of 25.21 and a beta of 0.60.

CoreCivic (NYSE:CXW) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The firm had revenue of $684.92 million for 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%. CoreCivic’s revenue was up 27.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. As a group, research analysts predict that CoreCivic, Inc. will post 2.69 EPS for the current year.

CoreCivic declared that its board has approved a stock repurchase program on Monday, August 10th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase up to 15.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at CoreCivic

In related news, EVP Lucibeth Mayberry sold 120,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $33.29, for a total value of $3,994,800.00. Following the completion of the transaction, the executive vice president owned 149,329 shares of the company’s stock, valued at approximately $4,971,162.41. This represents a 44.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John R. Prann, Jr. sold 40,000 shares of CoreCivic stock in a transaction on Monday, August 17th. The stock was sold at an average price of $33.54, for a total transaction of $1,341,600.00. Following the completion of the sale, the director owned 30,396 shares of the company’s stock, valued at approximately $1,019,481.84. This trade represents a 56.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 459,287 shares of company stock valued at $15,431,193. 1.76% of the stock is owned by company insiders.

Institutional Trading of CoreCivic

Several institutional investors and hedge funds have recently bought and sold shares of CXW. The Manufacturers Life Insurance Company acquired a new stake in CoreCivic during the second quarter worth about $1,458,000. BlackRock Inc. acquired a new position in CoreCivic in the second quarter valued at approximately $480,557,000. Jupiter Topco LLC bought a new position in shares of CoreCivic during the second quarter valued at approximately $1,340,000. Bank of New York Mellon Corp bought a new position in shares of CoreCivic during the second quarter valued at approximately $18,516,000. Finally, KCM Capital Inc bought a new position in shares of CoreCivic during the first quarter valued at approximately $10,400,000. Institutional investors and hedge funds own 85.13% of the company’s stock.

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.