CoreCivic (NYSE:CXW) Sets New 12-Month Low – Here’s What Happened

Shares of CoreCivic, Inc. (NYSE:CXW) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $15.95 and last traded at $16.0740, with a volume of 219869 shares. The stock had previously closed at $16.22.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of CoreCivic in a report on Wednesday, October 8th. Jones Trading reiterated a “buy” rating and issued a $30.00 target price on shares of CoreCivic in a research note on Friday, November 7th. Finally, Wall Street Zen cut shares of CoreCivic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.00.

CoreCivic Trading Down 0.5%

The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60. The firm’s 50 day moving average is $19.10 and its 200 day moving average is $20.39. The company has a market capitalization of $1.69 billion, a PE ratio of 17.18 and a beta of 0.68.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.48. The business had revenue of $580.44 million during the quarter, compared to the consensus estimate of $544.38 million. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.43 earnings per share. CoreCivic has set its FY 2025 guidance at 1.940-2.000 EPS. As a group, equities analysts predict that CoreCivic, Inc. will post 1.5 EPS for the current year.

CoreCivic declared that its board has authorized a stock buyback program on Monday, November 10th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the real estate investment trust to buy up to 10.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at CoreCivic

In other news, EVP Anthony L. Grande sold 22,500 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $21.18, for a total transaction of $476,550.00. Following the transaction, the executive vice president directly owned 135,559 shares of the company’s stock, valued at $2,871,139.62. This represents a 14.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thurgood Marshall, Jr. sold 6,000 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $20.52, for a total value of $123,120.00. Following the sale, the director owned 44,023 shares of the company’s stock, valued at approximately $903,351.96. This represents a 11.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 51,000 shares of company stock valued at $1,042,545. 2.30% of the stock is owned by insiders.

Institutional Trading of CoreCivic

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its holdings in shares of CoreCivic by 433.2% in the first quarter. Victory Capital Management Inc. now owns 109,996 shares of the real estate investment trust’s stock valued at $2,232,000 after purchasing an additional 89,365 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of CoreCivic by 7.3% during the first quarter. Allianz Asset Management GmbH now owns 1,622,800 shares of the real estate investment trust’s stock worth $32,927,000 after purchasing an additional 109,769 shares during the last quarter. Guidance Capital Inc. boosted its position in CoreCivic by 19.9% in the 1st quarter. Guidance Capital Inc. now owns 25,059 shares of the real estate investment trust’s stock valued at $508,000 after buying an additional 4,151 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of CoreCivic by 445.0% in the first quarter. Mackenzie Financial Corp now owns 89,102 shares of the real estate investment trust’s stock valued at $1,808,000 after purchasing an additional 72,752 shares during the period. Finally, Harvest Fund Management Co. Ltd raised its position in CoreCivic by 29.6% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 9,250 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 2,113 shares in the last quarter. 85.13% of the stock is currently owned by institutional investors.

CoreCivic Company Profile

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions.