Connor Clark & Lunn Investment Management Ltd. Makes New $2.60 Million Investment in CoreCivic, Inc. $CXW

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in CoreCivic, Inc. (NYSE:CXW) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 85,751 shares of the real estate investment trust’s stock, valued at approximately $2,605,000.

Several other institutional investors have also made changes to their positions in the stock. Royal Bank of Canada raised its holdings in CoreCivic by 49.2% in the 1st quarter. Royal Bank of Canada now owns 59,523 shares of the real estate investment trust’s stock valued at $1,207,000 after acquiring an additional 19,630 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of CoreCivic by 69.8% during the 1st quarter. AQR Capital Management LLC now owns 28,120 shares of the real estate investment trust’s stock valued at $571,000 after acquiring an additional 11,557 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of CoreCivic by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,828 shares of the real estate investment trust’s stock worth $1,315,000 after purchasing an additional 2,828 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of CoreCivic by 3,884.2% in the first quarter. Jones Financial Companies Lllp now owns 18,885 shares of the real estate investment trust’s stock worth $383,000 after purchasing an additional 18,411 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of CoreCivic by 2.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,467 shares of the real estate investment trust’s stock worth $4,473,000 after purchasing an additional 4,977 shares during the period. 85.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CXW shares. Noble Financial reaffirmed an “outperform” rating on shares of CoreCivic in a research report on Monday, August 10th. Northland Securities set a $40.00 target price on shares of CoreCivic in a report on Friday, June 26th. Benchmark raised their target price on shares of CoreCivic from $41.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of CoreCivic from a “hold” rating to a “buy” rating in a research report on Monday, August 10th. Finally, Weiss Ratings raised shares of CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $37.00.

Insider Buying and Selling

In related news, CFO David Garfinkle sold 50,000 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $33.76, for a total transaction of $1,688,000.00. Following the sale, the chief financial officer owned 343,353 shares in the company, valued at $11,591,597.28. The trade was a 12.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lucibeth Mayberry sold 120,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $33.29, for a total value of $3,994,800.00. Following the completion of the transaction, the executive vice president directly owned 149,329 shares of the company’s stock, valued at approximately $4,971,162.41. The trade was a 44.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 439,287 shares of company stock worth $14,734,193 in the last ninety days. Insiders own 1.76% of the company’s stock.

CoreCivic Price Performance

CXW stock opened at $33.82 on Friday. The company has a 50 day simple moving average of $31.54 and a 200 day simple moving average of $24.39. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 27.06 and a beta of 0.58. CoreCivic, Inc. has a 1 year low of $15.73 and a 1 year high of $34.86. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.32 and a quick ratio of 1.32.

CoreCivic (NYSE:CXW) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The company’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. Research analysts anticipate that CoreCivic, Inc. will post 2.69 EPS for the current fiscal year.

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

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.