David Garfinkle Sells 50,000 Shares of CoreCivic (NYSE:CXW) Stock

CoreCivic, Inc. (NYSE:CXW) CFO David Garfinkle sold 50,000 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $33.96, for a total value of $1,698,000.00. Following the completion of the sale, the chief financial officer owned 293,353 shares of the company’s stock, valued at $9,962,267.88. The trade was a 14.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

David Garfinkle also recently made the following trade(s):

• On Monday, August 17th, David Garfinkle sold 50,000 shares of CoreCivic stock. The stock was sold at an average price of $33.76, for a total value of $1,688,000.00.
• On Thursday, August 13th, David Garfinkle sold 491 shares of CoreCivic stock. The stock was sold at an average price of $34.03, for a total value of $16,708.73.
• On Wednesday, August 12th, David Garfinkle sold 3,170 shares of CoreCivic stock. The stock was sold at an average price of $34.27, for a total value of $108,635.90.

CoreCivic Trading Up 1.5%

NYSE CXW opened at $34.00 on Friday. The business’s 50-day moving average price is $31.00 and its two-hundred day moving average price is $23.86. CoreCivic, Inc. has a 12 month low of $15.73 and a 12 month high of $34.86. The firm has a market capitalization of $3.36 billion, a PE ratio of 27.20 and a beta of 0.58. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.86.

CoreCivic (NYSE:CXW) last issued its quarterly earnings results 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 company had revenue of $684.92 million during the quarter, compared to analysts’ expectations of $618.63 million. CoreCivic had a return on equity of 9.22% and a net margin of 5.15%.The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. On average, analysts expect that CoreCivic, Inc. will post 2.69 EPS for the current year.

CoreCivic announced that its board has authorized a share repurchase 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 often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CXW shares. Benchmark boosted their price target 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. Noble Financial reiterated an “outperform” rating on shares of CoreCivic in a research report on Monday, August 10th. JonesTrading reissued a “buy” rating and set a $30.00 target price on shares of CoreCivic in a research note on Wednesday, August 5th. Northland Securities set a $40.00 target price on shares of CoreCivic in a report on Friday, June 26th. Finally, Wall Street Zen upgraded shares of CoreCivic from a “hold” rating to a “buy” rating in a report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $37.00.

Institutional Investors Weigh In On CoreCivic

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in CoreCivic in the second quarter valued at approximately $480,557,000. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 138,846 shares in the last quarter. River Road Asset Management LLC grew its position in shares of CoreCivic by 3.3% during the 4th quarter. River Road Asset Management LLC now owns 8,978,240 shares of the real estate investment trust’s stock worth $171,574,000 after buying an additional 287,108 shares during the period. Lee Danner & Bass Inc. grew its position 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 worth $41,101,000 after buying an additional 1,590,940 shares during the period. Finally, Rubric Capital Management LP increased its stake in shares of 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 valued at $38,940,000 after acquiring an additional 97,770 shares in the last quarter. 85.13% of the stock is currently owned by institutional investors.

CoreCivic Company 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.