CoreCivic reports increased short interest and director stock sale

CoreCivic, Inc. (NYSE:CXW) reported a significant increase in short interest during July, with total shorted shares rising 65.8% to 3,574,436 shares. This represents approximately 3.7% of the company's shares.

In recent individual transactions, Director John Prann, Jr. sold 40,000 shares on August 17 at an average price of $33.54, totaling approximately $1,341,600. This sale reduced his ownership in the company by 56.82%.

Despite these movements, the company's recent quarterly earnings exceeded consensus estimates. CoreCivic reported $0.38 earnings per share on revenue of $684.92 million, surpassing the expected $0.34 EPS and $618.63 million in revenue. The company has also initiated a $500 million stock repurchase program.