NEW YORK, Oct 20 (Reuters) - Shares of Corrections Corp jumped more than 6 percent on Tuesday following news that Pershing Square Capital Management, headed by activist value investor William Ackman, had made an investment in the prison manager. Ackman said at an investor conference the stock was "cheap" and was worth between $40 and $54 per share. For details, see The stock jumped as high as $26.17 -- an intraday session high -- following Ackman's comments.
Interestingly -- there was an article on CXW this week in Barrons....
Ackman has recently presented a short opportunity with Realty Income and back in May presented a opportunity in General Growth Properties. Both the reality income and GGP presentations surfaced on the net some time later, and they appeard in blurbs in Barrons.
I think we are learning a little about Mr Ackmans MO.