CoreCivic Director Hylton Stacia Sells $38,466 in Stock
When the markets are hitting record highs, finding smart investments can be a challenge. One strategy is to look for undervalued stocks that have potential for growth. Take CoreCivic, Inc. (NYSE:CXW) for example. Recently, Director Hylton Stacia sold 1,800 shares of the company’s common stock at an average price of $21.37 per share, totaling $38,466. Despite the impressive 56% stock price increase in the past year, with shares trading close to their 52-week high of $24.99, Stacia still holds 78,871 shares directly. CoreCivic, a real estate investment trust with a market capitalization of $2.4 billion, focuses on real estate and construction operations.
According to InvestingPro data, CoreCivic is financially sound with a perfect Piotroski Score of 9. Analysts have set price targets between $17 and $32 per share, indicating potential for growth. For more detailed insights and ProTips on CoreCivic’s valuation and growth prospects, investors can access the comprehensive Pro Research Report on InvestingPro.
In more recent news, CoreCivic, a company providing diversified government solutions, has been in the spotlight due to significant developments. Jones Trading upgraded CoreCivic’s stock rating from Hold to Buy, anticipating growth opportunities amid a changing political landscape. The company’s third-quarter results for 2024 exceeded expectations, driven by increased occupancy rates and enhanced cost management, resulting in an improved guidance outlook.
CoreCivic’s major clients, Immigration and Customs Enforcement (ICE) and the US Marshals Service, are expected to receive higher appropriations in line with the new administration’s focus on immigration and criminal justice enforcement. The company demonstrated operational efficiency in the third quarter of 2024, with a 2% revenue increase to $491.6 million and a 23% rise in normalized funds from operations (FFO) per share to $0.43. CoreCivic updated its 2024 financial guidance, projecting an adjusted EPS between $0.69 and $0.75 and normalized FFO per share between $1.59 and $1.65. With a total liquidity of $365 million and no debt maturities until 2027, CoreCivic is well-positioned for potential growth.
This information has been verified and reviewed for accuracy. For more details, refer to our T&C.
