CoreCivic (NYSE:CXW) Rating Increased to Outperform at Wedbush

Wedbush upgraded shares of CoreCivic (NYSE:CXW) from a neutral rating to an outperform rating in a research report sent to investors on Tuesday, Marketbeat.com reports. They currently have $30.00 target price on the real estate investment trust’s stock, up from their prior target price of $19.00. Wedbush also issued estimates for CoreCivic’s Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.42 EPS, Q3 2025 earnings at $0.45 EPS, Q4 2025 earnings at $0.46 EPS, FY2025 earnings at $1.71 EPS and FY2026 earnings at $0.00 EPS.

Separately, Northland Securities lifted their price target on CoreCivic from $17.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th.

CoreCivic Stock Up 0.8 %

Shares of CXW stock opened at $22.03 on Tuesday. CoreCivic has a 1-year low of $10.74 and a 1-year high of $24.99. The stock’s fifty day moving average price is $17.99 and its 200 day moving average price is $14.96. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 32.88 and a beta of 1.02.

Insiders Place Their Bets

In related news, Director Anne L. Mariucci sold 10,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the director now directly owns 101,936 shares of the company’s stock, valued at approximately $2,446,464. This represents a 8.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David Garfinkle sold 50,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $24.20, for a total transaction of $1,210,000.00. Following the sale, the chief financial officer now owns 276,528 shares in the company, valued at approximately $6,691,977.60. This represents a 15.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,000 shares of company stock valued at $2,490,520. 1.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On CoreCivic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. River Road Asset Management LLC lifted its holdings in CoreCivic by 0.5% during the third quarter. River Road Asset Management LLC now owns 8,611,640 shares of the real estate investment trust’s stock valued at $108,937,000 after purchasing an additional 40,365 shares in the last quarter. Algert Global LLC raised its position in shares of CoreCivic by 348.2% in the third quarter. Algert Global LLC now owns 50,883 shares of the real estate investment trust’s stock valued at $644,000 after buying an additional 39,530 shares during the last quarter. FMR LLC raised its position in shares of CoreCivic by 3.8% in the third quarter. FMR LLC now owns 5,117,716 shares of the real estate investment trust’s stock valued at $64,739,000 after buying an additional 186,310 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of CoreCivic by 85.8% in the second quarter. Nisa Investment Advisors LLC now owns 400,896 shares of the real estate investment trust’s stock valued at $5,204,000 after buying an additional 185,075 shares during the last quarter. Finally, Resolute Capital Asset Partners LLC acquired a new stake in shares of CoreCivic in the second quarter valued at about $649,000. 85.13% of the stock is owned by hedge funds and other 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.