On October 1, 2024, Cole Carter, the Executive Vice President, General Counsel, and Secretary of CoreCivic Inc (CXW, Financial), executed a sale of 8,000 shares of the company. The transaction was filed with the SEC and took place at a stock price of $12.58 per share. Following this transaction, the insider now owns 207,847 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, Cole Carter, has sold a total of 60,345 shares and has not purchased any shares. This recent sale continues a trend seen within the company, where there have been 18 insider sells and no insider buys over the past year.
The shares of CoreCivic Inc were trading at $12.58 on the day of the sale, giving the company a market cap of approximately $1.38 billion. The price-earnings ratio of the company stands at 20.87, which is above both the industry median of 18.89 and the historical median for the company.
According to the GF Value, the intrinsic value estimate for CoreCivic Inc is $11.91 per share, making the stock Fairly Valued with a price-to-GF-Value ratio of 1.06. The GF Value is calculated based on historical trading multiples, an adjustment factor based on past returns and growth, and future business performance estimates.
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 and market performance.
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