CoreCivic CEO Cole Carter sold $174,160 worth of stock Via Investing.com

Cole G. Carter, Senior Vice President, General Counsel, and Secretary of CoreCivic, Inc. (NYSE:), recently sold 8,000 shares of common stock in the company. The operation, which was carried out on January 2, was carried out at a price of $ 21.77 per share, which resulted in a total of $ 174,160. The stock, which has seen a staggering 63% increase in the past six months follows InvestingPro data, currently trading at $22.05 with analyst estimates ranging from $25 to $32. After this sale, Carter still owns 183,847 shares in the company. The sale was made under the Rule 10b5-1 business plan, which allows insiders to create a pre-planned plan to sell assets, to help avoid potential business problems. InvestingPro analysis shows that CoreCivic maintains a perfect Piotroski Score of 9, suggesting strong financial health, although recent valuations appear to be straight with a P/E ratio of 32. Get details plus 8 more ProTips with an InvestingPro subscription, including an extensive Pro Research Report available for this $2.4B market cap company.

In other recent news, CoreCivic announced the appointment of Patrick Swindle as President and Chief Operating Officer, effective January 1, 2025. Swindle, who has been with CoreCivic since 2007, will take replacing Damon T. Hininger, the current CEO. The company reported a 2% revenue increase in the third quarter of 2024, reaching $491.6 million, and expects adjusted EPS between $0.69 and $0.75 for the year.

Analysts expressed confidence in the company’s future, with Wedbush and Jones Trading both upgrading CoreCivic’s stock rating. Wedbush upgraded the rating from Neutral to Outperform, citing the potential performance of CoreCivic’s South Texas contract. Jones Trading upgraded the stock from Hold to Buy, indicating potential growth is expected due to recent political changes.

These updates highlight recent positive performance and future prospects for CoreCivic, as assessed by analysts. The company maintains a strong financial position, with no major debt until 2027, and continues to provide valuable services under new leadership.

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