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

CoreCivic, Inc. (NYSE:CXW) CFO David Garfinkle sold 50,000 shares of CoreCivic 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 transaction, the chief financial officer owned 293,353 shares in the company, valued at $9,962,267.88. The trade was a 14.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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 shares were sold at an average price of $34.27, for a total value of $108,635.90.

CoreCivic Stock Up 1.5%

Shares of NYSE:CXW opened at $34.00 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.32. CoreCivic, Inc. has a 1 year low of $15.73 and a 1 year high of $34.86. The stock has a market capitalization of $3.36 billion, a P/E ratio of 27.20 and a beta of 0.58. The stock has a 50-day simple moving average of $31.00 and a 200-day simple moving average of $23.86.

CoreCivic (NYSE:CXW) last posted 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 firm 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%. CoreCivic’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. Equities analysts forecast that CoreCivic, Inc. will post 2.69 earnings per share for the current year.

CoreCivic declared that its board has authorized a stock buyback 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 reacquire up to 15.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On CoreCivic

A number of institutional investors have recently made changes to their positions in CXW. AXQ Capital LP acquired a new stake in shares of CoreCivic during the second quarter worth approximately $933,000. Headlands Technologies LLC bought a new stake in shares of CoreCivic in the second quarter worth $472,000. Susquehanna Fundamental Investments LLC raised its holdings in CoreCivic by 2.4% in the second quarter. Susquehanna Fundamental Investments LLC now owns 208,562 shares of the real estate investment trust’s stock valued at $6,336,000 after acquiring an additional 4,814 shares in the last quarter. Capital Advisors Inc. OK bought a new position in CoreCivic during the 2nd quarter valued at $1,434,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in CoreCivic by 3.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 166,968 shares of the real estate investment trust’s stock valued at $5,072,000 after acquiring an additional 5,982 shares during the last quarter. 85.13% of the stock is owned by institutional investors and hedge funds.

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.