{"id":335114,"date":"2010-02-18T06:36:00","date_gmt":"2010-02-18T11:36:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/bill-ackman-ups-stake-in-private-prisons-company-corrections-corp-2010-2"},"modified":"2010-02-18T06:36:00","modified_gmt":"2010-02-18T11:36:00","slug":"bill-ackman-ups-stake-in-private-prisons-company-cxw","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/335114","title":{"rendered":"Bill Ackman Ups Stake In Private Prisons Company (CXW)"},"content":{"rendered":"<p><img decoding=\"async\" class=\"float_right\" src=\"http:\/\/static.businessinsider.com\/image\/4b26338c0000000000c13442\/bill-ackman.jpeg\" border=\"0\" alt=\"bill-ackman\" \/><\/p>\n<p>Bill Ackmans&#8217;s Pershing Square became the largest shareholder in Corrections Corp of America last quarter.<\/p>\n<p>Ackman boosted his stake to 10.9 million shares in the fourth quarter. In the third quarter, the <a href=\"http:\/\/www.businessinsider.com\/bill-ackman-is-buying-americas-largest-private-prison-company-2009-10\">hedge fund manager reported owning 7.3 million shares.<\/a><\/p>\n<p><a href=\"http:\/\/www.correctionscorp.com\/\">CCA<\/a> designs, builds, manages and operates correctional facilities and detention centers on behalf of the government. <a href=\"http:\/\/blogs.forbes.com\/streettalk\/2010\/02\/17\/ackman-presses-his-prison-play\/\"><em>Forbes <\/em>notes Ackman&#8217;s saying<\/a> the stock could go up to $40.<\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/bill-ackman-is-buying-americas-largest-private-prison-company-2009-10\">Last October<\/a> he gave a complete presentation on why he was so bullish on the one kind of real estate that was consistently growing.<\/p>\n<p>If Ackman stayed in CCA throughout January, he took a beating &#8211; the private prison company&#8217;s shares dropped steadily in January from $24.55 to $18.71. Now it&#8217;s trading around $20.<\/p>\n<p><strong>For more about what Ackman and his competitors are up to, see <a href=\"http:\/\/www.businessinsider.com\/the-biggest-hedge-fund-movements-in-60-seconds-2010-2\">our 60-second guide to what hedge funds bought and sold last quarter &gt;<\/a><\/strong><\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/bill-ackman-ups-stake-in-private-prisons-company-corrections-corp-2010-2#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><b>See Also:<\/b><\/p>\n<ul>\n<li><a href=\"http:\/\/www.businessinsider.com\/the-biggest-hedge-fund-movements-in-60-seconds-2010-2\">The 60-Second Guide To What The Biggest Hedge Funds Are Buying And Selling Right Now<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/bill-ackman-is-buying-americas-largest-private-prison-company-2009-10\">Why Bill Ackman Is Bullish On America&#8217;s Largest Private Prison Company<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/see-how-bill-ackman-made-complete-fools-out-of-commercial-real-estate-bears-like-hovde-capital-2010-2\">See How Bill Ackman Made Complete Fools Out Of Commercial Real Estate Bears Like Hovde Capital<\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/6NudH3O3E9g\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bill Ackmans&#8217;s Pershing Square became the largest shareholder in Corrections Corp of America last quarter. Ackman boosted his stake to 10.9 million shares in the fourth quarter. In the third quarter, the hedge fund manager reported owning 7.3 million shares. CCA designs, builds, manages and operates correctional facilities and detention centers on behalf of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-335114","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/335114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=335114"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/335114\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=335114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=335114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=335114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}