Microvast Holdings announces departure of chief financial officer
In a recent transaction, Cole G. Carter, Executive Vice President, General Counsel, and Secretary at CoreCivic, Inc. (NYSE:CXW), sold 8,000 shares of the company’s common stock. The $1.98 billion market cap company has seen its stock surge over 41% in the past six months, according to InvestingPro data. The shares were sold at a price of $18.85 each, totaling $150,800. Following this sale, Carter retains ownership of 223,402 shares. The transaction was executed under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stocks. Notably, InvestingPro data shows management has been actively buying back shares, while the company maintains strong liquidity with current assets exceeding short-term obligations. For deeper insights into insider trading patterns and 8 additional ProTips, explore the comprehensive CoreCivic Pro Research Report.
In other recent news, CoreCivic has been at the center of several significant developments. The company received an upgrade from Noble Capital, which raised its rating from Market Perform to Outperform, with a new price target of $25.00. This reflects the firm’s optimism about CoreCivic’s growth prospects under the current U.S. political climate. Similarly, Wedbush upgraded CoreCivic from Neutral to Outperform, increasing the price target to $30.00, driven by potential reactivation of a lucrative ICE contract in South Texas. These upgrades suggest a positive outlook for CoreCivic’s financial performance.
Additionally, President Donald Trump’s recent executive actions on immigration have potentially increased the demand for CoreCivic’s detention facilities. The revocation of previous policies and the suspension of certain immigration programs are expected to boost the need for private prison services. Moreover, CoreCivic announced the appointment of Patrick Swindle as the new President and Chief Operating Officer, effective January 1, 2025. Swindle, who has been with the company since 2007, is set to lead during a period of anticipated rapid growth. These recent developments indicate a period of strategic and operational changes for CoreCivic.
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