CoreCivic, Inc. (NYSE:CXW – Get Free Report) was the recipient of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 15,424,304 shares, an increase of 331.5% from the July 30th total of 3,574,436 shares. Based on an average daily volume of 1,783,511 shares, the days-to-cover ratio is presently 8.6 days. Approximately 15.9% of the shares of the stock are short sold.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on CXW shares. Northland Securities set a $40.00 target price on shares of CoreCivic in a research note on Friday, June 26th. JonesTrading restated a “buy” rating and issued a $30.00 price target on shares of CoreCivic in a research report on Wednesday, August 5th. Wall Street Zen upgraded CoreCivic from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. Weiss Ratings raised CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Finally, Noble Financial restated an “outperform” rating on shares of CoreCivic in a report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $37.00.
Check Out Our Latest Report on CoreCivic
Key Headlines Impacting CoreCivic
- Positive Sentiment: $500 million buyback: CoreCivic’s board authorized a repurchase program that could cover up to 15.7% of outstanding shares. The authorization may support earnings per share and signals that management believes the stock is undervalued.
- Positive Sentiment: Strong operating results: CoreCivic’s latest quarterly earnings exceeded expectations, with EPS of $0.38 versus the $0.34 consensus and revenue of $684.9 million versus estimates of $618.6 million. Revenue increased 27.3% year over year, while full-year 2026 EPS guidance remains $2.61 to $2.70.
- Positive Sentiment: Analyst and institutional support: The company maintains a consensus “Buy” rating and an average analyst price target of $37.00. Institutional ownership is approximately 85%, with BlackRock and other investment firms recently adding or increasing positions.
- Neutral Sentiment: Momentum and valuation: CXW is trading well above its 50-day and 200-day moving averages and close to its annual high. The momentum is favorable, but the elevated level could make the stock more vulnerable to profit-taking or disappointing news.
- Negative Sentiment: Multiple insider sales: EVP Anthony L. Grande sold 12,564 shares on August 26 after selling 7,436 shares on August 24. Director John R. Prann Jr. sold 3,098 shares, reducing his direct ownership by 38.26%, while Director Mark A. Emkes sold 30,000 shares. Collectively, the reported sales represent more than $1.8 million of stock and may raise concerns about insider conviction, although Grande and Emkes continue to hold sizable positions. CoreCivic insider selling report
CoreCivic Trading Down 0.5%
NYSE:CXW traded down $0.17 on Thursday, hitting $33.82. The stock had a trading volume of 1,484,118 shares, compared to its average volume of 1,216,400. 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 stock has a market cap of $3.34 billion, a price-to-earnings ratio of 27.06 and a beta of 0.58. The company has a fifty day moving average price of $31.34 and a two-hundred day moving average price of $24.22. CoreCivic has a 1-year low of $15.73 and a 1-year high of $34.86.
CoreCivic (NYSE:CXW – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The business 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 company’s revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 EPS. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. Equities research analysts expect that CoreCivic will post 2.69 earnings per share for the current fiscal year.
CoreCivic declared that its board has approved a share repurchase program on Monday, August 10th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to purchase up to 15.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
Insider Buying and Selling
In other CoreCivic news, EVP Anthony L. Grande sold 29,199 shares of CoreCivic stock in a transaction on Monday, August 17th. The shares were sold at an average price of $33.61, for a total transaction of $981,378.39. Following the sale, the executive vice president owned 164,782 shares of the company’s stock, valued at $5,538,323.02. The trade was a 15.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Emkes sold 30,000 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $34.25, for a total transaction of $1,027,500.00. Following the sale, the director directly owned 141,274 shares of the company’s stock, valued at $4,838,634.50. The trade was a 17.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 439,287 shares of company stock worth $14,734,193 in the last ninety days. Company insiders own 1.76% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in CXW. Corient Private Wealth LP purchased a new stake in CoreCivic during the 2nd quarter worth approximately $458,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in CoreCivic in the 2nd quarter valued at approximately $1,970,000. AXQ Capital LP purchased a new position in CoreCivic in the 2nd quarter valued at approximately $933,000. Headlands Technologies LLC acquired a new position in shares of CoreCivic in the second quarter worth $472,000. Finally, Susquehanna Fundamental Investments LLC grew its stake in shares of 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 worth $6,336,000 after acquiring an additional 4,814 shares in the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than CoreCivic
- Nutanix’s Rally Has a Bigger Story Than Earnings as AMD’s AI Bet Takes Shape
- SEC Probe Puts Wall Street Leverage Risk Back in Focus
- A Bearish-Dollar Options Surge Raises the Stakes for Warsh at Jackson Hole
- Five Below’s Turnaround Is Working—But Has the Stock Run Too Far?
Receive News & Ratings for CoreCivic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoreCivic and related companies with MarketBeat.com's FREE daily email newsletter.
