On August 23, 2024, David Garfinkle, Executive Vice President and Chief Financial Officer of CoreCivic Inc (NYSE:CXW), sold 25,000 shares of the company’s stock 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 that provides corrections and detention management, reintegration services, and government real estate solutions. The company operates facilities that include a range of services for government partners designed to help reduce recidivism and improve public welfare.
Over the past year, David Garfinkle has sold a total of 55,000 shares of CoreCivic Inc. and made no purchases. This latest transaction continues a trend seen throughout the company. Over the past year, there have been 16 insider sales and no insider purchases.
CoreCivic Inc. shares traded at $13.6 on the day of the sale, giving the company a market capitalization of approximately $1.52 billion. The company’s price-to-earnings ratio is 23.03, which is higher than both the industry median of 17.74 and the company’s historical median.
The stock’s current price is also above GF Value of $11.89, with a Price to GF Value ratio of 1.14, suggesting the stock is slightly overvalued. GF Value is calculated based on historical trading multiples, an adjustment factor from GuruFocus, and future business development estimates from analysts.
This insider sale may be of interest to investors who follow insider behavior as an indicator of a stock’s potential future performance, particularly in the context of the company’s valuation and general market conditions.
This article created by GuruFocus is intended to provide general insights and does not constitute tailored financial advice. Our commentary is based on historical data and analyst forecasts, uses an unbiased methodology and is not intended to serve as specific investment advice. It does not contain a recommendation to buy or sell any stock and does not take into account any individual investment objectives or financial circumstances. Our goal is to provide long-term, fundamental, data-driven analysis. Note that our analysis may not include the most recent, price-sensitive company announcements or qualitative information. GuruFocus does not hold a position in any stocks mentioned here.
This article first appeared on GuruFocus.
