On November 11, 2024, David Garfinkle, Executive Vice President and Chief Financial Officer of CoreCivic Inc (CXW, Financial), sold 50,000 shares of the company at a price of $24.2 per share. This transaction was documented in a recent SEC Filing. Following this sale, the insider now owns 276,528 shares of the company.
CoreCivic Inc (CXW, Financial) 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 prisons, detention centers, and residential reentry centers, and also provides electronic monitoring and case management services.
Over the past year, David Garfinkle has sold a total of 105,000 shares and has not made any purchases of the company's stock. This recent transaction is part of a broader trend within CoreCivic Inc, where there have been 20 insider sells and no insider buys over the past year.
Shares of CoreCivic Inc were trading at $24.2 on the day of the sale, giving the company a market cap of approximately $2.44 billion. The price-earnings ratio of the stock stands at 32.99, which is above both the industry median of 18.12 and the company's historical median.
According to the GF Value, the intrinsic value estimate for CoreCivic Inc is $12.63 per share, making the stock significantly overvalued with a price-to-GF-Value ratio of 1.92.
This valuation assessment is based on historical trading multiples, a GuruFocus adjustment factor related to past returns and growth, and future business performance estimates from Morningstar analysts.
The insider's recent sale could be of interest to investors monitoring insider behaviors and company valuation metrics, especially considering the stock's current valuation relative to its GF Value.
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.
