Summit Global Investments Makes New $490,000 Investment in CoreCivic, Inc. $CXW

Summit Global Investments acquired a new stake in CoreCivic, Inc. (NYSE:CXW) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 16,139 shares of the real estate investment trust’s stock, valued at approximately $490,000.

Other hedge funds have also recently modified their holdings of the company. NBC Securities Inc. boosted its stake in shares of CoreCivic by 533.9% in the 4th quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 1,228 shares during the last quarter. Leonteq Securities AG bought a new position in shares of CoreCivic in the fourth quarter valued at approximately $57,000. Smartleaf Asset Management LLC increased its position in shares of CoreCivic by 33.0% during the second quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 702 shares during the last quarter. Fifth Third Bancorp increased its position in shares of CoreCivic by 320.7% during the fourth quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 2,546 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in CoreCivic during the fourth quarter worth $71,000. Institutional investors own 85.13% of the company’s stock.

Trending Headlines about CoreCivic

Here are the key news stories impacting CoreCivic this week:

• Positive Sentiment: Noble Financial raised earnings forecasts: The firm lifted its Q3 2026 EPS estimate to $0.64 from $0.62, Q4 to $0.78 from $0.71, FY2026 to $2.70 from $2.61, and FY2027 to $3.62 from $3.19. Noble maintained an “Outperform” rating, indicating increased confidence in CoreCivic’s earnings outlook. Noble Financial increases CoreCivic earnings estimates
• Positive Sentiment: $500 million buyback supports the stock: CoreCivic’s board authorized repurchases of up to approximately 15.7% of outstanding shares. The plan could boost future earnings per share, provide buying support and signal that management believes the stock is undervalued.
• Positive Sentiment: Analyst sentiment remains favorable: CoreCivic has a reported consensus “Buy” rating and an average price target of $37. Benchmark recently raised its target to $45, reinforcing the potential for additional upside if the improved earnings outlook is delivered.
• Neutral Sentiment: Valuation leaves less room for disappointment: The shares are trading near their 52-week high and above both their 50-day and 200-day moving averages. Investors may expect upcoming quarterly results to validate Noble’s higher forecasts, increasing the risk of volatility if results fall short.
• Negative Sentiment: Multiple insiders sold shares: EVP Lucibeth Mayberry sold 120,000 shares for about $4.0 million, reducing her holdings by 44.56%. Director Devin Ignatius Murphy sold 8,098 shares worth roughly $274,000, while CFO David Garfinkle sold a combined 3,661 shares for approximately $125,000. The CFO retained a substantial position, but the cluster of sales may weigh on sentiment. CoreCivic insider sales

Insider Activity

In related news, Director Thurgood Marshall, Jr. sold 7,100 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $34.00, for a total value of $241,400.00. Following the sale, the director directly owned 45,274 shares in the company, valued at approximately $1,539,316. The trade was a 13.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lucibeth Mayberry sold 120,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $33.29, for a total value of $3,994,800.00. Following the completion of the sale, the executive vice president owned 149,329 shares in the company, valued at $4,971,162.41. This represents a 44.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 194,692 shares of company stock worth $6,454,277. 1.76% of the stock is owned by company insiders.

CoreCivic Stock Performance

NYSE:CXW opened at $32.71 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.32 and a quick ratio of 1.32. The business has a fifty day simple moving average of $30.30 and a two-hundred day simple moving average of $23.36. CoreCivic, Inc. has a 1 year low of $15.73 and a 1 year high of $34.86. The company has a market capitalization of $3.23 billion, a P/E ratio of 26.17 and a beta of 0.58.

CoreCivic announced that its board has initiated a stock repurchase plan on Monday, August 10th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 15.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have weighed in on CXW shares. UBS Group set a $35.00 price objective on CoreCivic in a research report on Tuesday, July 7th. Northland Securities set a $40.00 target price on CoreCivic in a research report on Friday, June 26th. Wall Street Zen upgraded CoreCivic from a “hold” rating to a “buy” rating in a research note on Monday, August 10th. JonesTrading reissued a “buy” rating and issued a $30.00 price target on shares of CoreCivic in a report on Wednesday, August 5th. Finally, Benchmark increased their price target on shares of CoreCivic from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $37.00.

CoreCivic 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.