Bill Ackmans’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.
Last October he gave a complete presentation on why he was so bullish on the one kind of real estate that was consistently growing.
If Ackman stayed in CCA throughout January, he took a beating – the private prison company’s shares dropped steadily in January from $24.55 to $18.71. Now it’s trading around $20.
For more about what Ackman and his competitors are up to, see our 60-second guide to what hedge funds bought and sold last quarter >