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Cornell Companies: Cashing in on crime

By Real Cost of Prisons Project (The Sentencing Project)

Cornell Companies: Cashing in on crime Small Cap Investor September 12, 2008 Shares of Cornell Companies (NYSE:CRN) are on a six-month prison break, and investors aren?t about to issue an all-points bulletin. Since sinking to $15.69 on March 10, the stock of the Houston-based provider of correction, detention, education, rehabilitation and treatment services for adults and juveniles has been on the run to higher ground. Cornell?s shares hit a 52-week high of $28.42 on Aug. 14, and since then have traded slightly below that level, closing Thursday at $27.66. Cornell Companies shares have gained about 19% in value this year, but other prison operators aren?t faring as well: larger competitors Corrections Corp. of America (NYSE:CXW) and Geo Group (NYSE:GEO) are down 11% and 15%, respectively...continue to full post

Full post as published by The Real Cost of Prisons Weblog on September 12, 2008 (boomark / email).