Hsbc Holdings PLC Makes New $544,000 Investment in CoreCivic, Inc. $CXW

by · The Markets Daily

Hsbc Holdings PLC acquired a new stake in shares of CoreCivic, Inc. (NYSE:CXW – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 17,820 shares of the real estate investment trust’s stock, valued at approximately $544,000.

Other large investors also recently modified their holdings of the company. Persistent Asset Partners Ltd purchased a new stake in CoreCivic in the second quarter worth approximately $52,000. Smartleaf Asset Management LLC grew its holdings in shares of CoreCivic by 33.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 702 shares during the last quarter. Leonteq Securities AG bought a new stake in CoreCivic in the fourth quarter worth $57,000. Fifth Third Bancorp boosted its position in 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 buying an additional 2,546 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in shares of CoreCivic during the fourth quarter valued at about $71,000. 85.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Anthony L. Grande sold 12,564 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $33.85, for a total value of $425,291.40. Following the completion of the sale, the executive vice president owned 144,782 shares of the company’s stock, valued at $4,900,870.70. This trade represents a 7.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John R. Prann, Jr. sold 3,098 shares of CoreCivic stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $105,332.00. Following the completion of the sale, the director owned 5,000 shares in the company, valued at approximately $170,000. This trade represents a 38.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 439,287 shares of company stock worth $14,734,193. Corporate insiders own 1.76% of the company’s stock.

CoreCivic Price Performance

CXW stock opened at $32.60 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.86. The firm’s 50-day moving average price is $31.72 and its two-hundred day moving average price is $24.74. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 26.08 and a beta of 0.60. CoreCivic, Inc. has a 12-month low of $15.73 and a 12-month high of $34.86.

CoreCivic (NYSE:CXW – Get Free Report) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. CoreCivic had a return on equity of 9.22% and a net margin of 5.15%.The company had revenue of $684.92 million for the quarter, compared to analysts’ expectations of $618.63 million. During the same period last year, the firm earned $0.59 earnings per share. CoreCivic’s quarterly revenue was up 27.3% on a year-over-year basis. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. As a group, equities analysts predict that CoreCivic, Inc. will post 2.69 earnings per share for the current year.

CoreCivic announced that its board has authorized a stock buyback plan 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 repurchase up to 15.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently commented on CXW. Benchmark lifted their price objective on CoreCivic from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 7th. JonesTrading restated a “buy” rating and set a $30.00 target price on shares of CoreCivic in a report on Wednesday, August 5th. Weiss Ratings upgraded CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Noble Financial reiterated an “outperform” rating on shares of CoreCivic in a research report on Monday, August 10th. Finally, UBS Group set a $35.00 price objective on CoreCivic in a research note on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $37.00.

Check Out Our Latest Stock Analysis on CXW

CoreCivic Company Profile

(Free Report)

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.

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