Patrick D. Swindle, the Chief Operating Officer of CoreCivic, Inc. (NYSE:CXW), has recently sold a total of 15,000 shares of the company's common stock, according to the latest SEC filings. The transaction, which took place on March 14, 2024, amounted to over $218,000.
The shares were sold at a weighted average price of $14.5958, with individual transactions occurring at prices ranging from $14.5907 to $14.63. Following the sale, Swindle's direct ownership in the company stands at 218,504 shares.
This sale comes as part of the regular financial disclosures made by company executives, providing transparency to the market and allowing investors to see the trading activities of CoreCivic's insiders.
Investors often monitor such insider transactions as they can provide insights into an executive's view of the company's current valuation and future prospects. However, it is important to note that these transactions may not always be indicative of a company's long-term performance and can be influenced by a variety of factors, including personal financial needs.
CoreCivic, Inc., previously known as Corrections Corporation of America, is a company that specializes in the ownership and management of private prisons and detention centers. The company's activities are often closely watched by investors interested in the real estate investment trust sector, and insider transactions are an integral part of the overall analysis.
The SEC filing provides a detailed account of the transaction, ensuring that all regulatory requirements are met and that the information is available to the public.
InvestingPro Insights
In light of the recent insider transactions at CoreCivic, Inc. (NYSE:CXW), where COO Patrick D. Swindle sold shares of the company, it's worth considering additional financial metrics and expert analysis. According to the latest data from InvestingPro, CoreCivic has a market capitalization of approximately $1.67 billion, reflecting the company's overall market value. The P/E ratio, a measure of the company's current share price relative to its per-share earnings, stands at 24.78, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at 23.97. This suggests that investors are willing to pay nearly $24 for every $1 of earnings, which could indicate expectations of future growth or perhaps a premium for the company's market position.
InvestingPro Tips also reveal that CoreCivic has experienced a significant price uptick over the last six months, with a total return of 41.01%. This is coupled with a high return over the last year, as the company's shares have increased by 55.11% in value. Such metrics can be particularly insightful for investors trying to gauge the company's recent market performance. Moreover, analysts predict the company will be profitable this year, which may instill confidence in potential investors regarding CoreCivic's financial health.
For those looking to dive deeper into CoreCivic's financials and future prospects, InvestingPro offers additional expert tips and metrics. With a total of 7 InvestingPro Tips available, investors can gain more nuanced insights into the company's performance and make more informed decisions. To access these insights, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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