Stock Track | CoreCivic Soars 5.96% as Company Boosts Share Repurchase Program by $200 Million

Stock Track

Nov 10

CoreCivic, Inc. (NYSE: CXW) saw its stock soar 5.96% in pre-market trading on Monday following the company's announcement of a significant increase to its share repurchase program. The prison operator and government services provider authorized an additional $200 million for stock buybacks, bringing the total repurchase program to $700 million.

The expanded share repurchase program demonstrates CoreCivic's confidence in its business prospects and commitment to enhancing shareholder value. Since the program's inception in May 2022, the company has already repurchased 21.5 million shares at an average price of $14.98 per share, totaling $322.1 million. With this latest increase, CoreCivic now has $377.9 million remaining in its repurchase authorization.

CoreCivic's CEO, Damon T. Hininger, expressed his belief that the company's current valuation does not fully reflect its progress and opportunities. Meanwhile, President and COO Patrick D. Swindle cited recent contract awards and overall business strength as factors enabling the execution of their capital allocation strategy. The company's focus on share repurchases suggests management's view that the stock is undervalued, which has resonated positively with investors in today's trading session.

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(NYSE: CXW) saw its stock soar 5.96% in pre-market trading on Monday following the company's announcement of a significant increase to its share repurchase program. The prison operator and government services provider authorized an additional $200 million for stock buybacks, bringing the total repurchase program to $700 million.</p>\n\n<p>The expanded share repurchase program demonstrates CoreCivic's confidence in its business prospects and commitment to enhancing shareholder value. Since the program's inception in May 2022, the company has already repurchased 21.5 million shares at an average price of $14.98 per share, totaling $322.1 million. With this latest increase, CoreCivic now has $377.9 million remaining in its repurchase authorization.</p>\n\n<p>CoreCivic's CEO, Damon T. Hininger, expressed his belief that the company's current valuation does not fully reflect its progress and opportunities. Meanwhile, President and COO Patrick D. Swindle cited recent contract awards and overall business strength as factors enabling the execution of their capital allocation strategy. 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(NYSE: CXW) saw its stock soar 5.96% in pre-market trading on Monday following the company's announcement of a significant increase to its share repurchase program. The prison operator and government services provider authorized an additional $200 million for stock buybacks, bringing the total repurchase program to $700 million.</p>\n\n<p>The expanded share repurchase program demonstrates CoreCivic's confidence in its business prospects and commitment to enhancing shareholder value. Since the program's inception in May 2022, the company has already repurchased 21.5 million shares at an average price of $14.98 per share, totaling $322.1 million. With this latest increase, CoreCivic now has $377.9 million remaining in its repurchase authorization.</p>\n\n<p>CoreCivic's CEO, Damon T. Hininger, expressed his belief that the company's current valuation does not fully reflect its progress and opportunities. Meanwhile, President and COO Patrick D. Swindle cited recent contract awards and overall business strength as factors enabling the execution of their capital allocation strategy. The company's focus on share repurchases suggests management's view that the stock is undervalued, which has resonated positively with investors in today's trading session.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CXW","symbol_name":"美国惩教公司","start_time":0,"source_url":"","article_id":"1125802553","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1125802553","pubTimestamp":1762785262,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"CoreCivic, Inc. 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