On August 23, 2024, David Garfinkle, Executive Vice President and Chief Financial Officer of CoreCivic Inc (CXW, Financial), executed a sale of 25,000 shares of the company at a price of $13.6 per share. This transaction was documented in a recent SEC Filing. Following this sale, the insider now owns 326,528 shares of CoreCivic Inc.
CoreCivic Inc is a diversified government solutions company providing corrections and detention management, community reentry services, and government real estate solutions. The company operates facilities that include a range of services for government partners that are designed to help reduce recidivism and better the public good.
Over the past year, David Garfinkle has sold a total of 55,000 shares of CoreCivic Inc and has not made any purchases of the stock. This recent transaction continues a trend seen across the company, where there have been 16 insider sales and no insider buys over the last year.
Shares of CoreCivic Inc were trading at $13.6 on the day of the sale, giving the company a market cap of approximately $1.52 billion. The price-earnings ratio of the company stands at 23.03, which is above both the industry median of 17.74 and the historical median for the company.
The stock's current price also places it above the GF Value of $11.89, with a price-to-GF-Value ratio of 1.14, indicating that the stock is modestly overvalued. The GF Value is calculated based on historical trading multiples, an adjustment factor from GuruFocus, and future business performance estimates from analysts.
This insider sale might be of interest to investors tracking insider behaviors as an indicator of potential future stock performance, particularly in the context of the company's valuation metrics and overall market conditions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
