Pentwater Capital Management LP acquired a new stake in shares of Geo Group Inc (The) (NYSE:GEO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,582,000 shares of the real estate investment trust's stock, valued at approximately $312,698,000. Geo Group comprises 1.9% of Pentwater Capital Management LP's portfolio, making the stock its 13th largest holding. Pentwater Capital Management LP owned approximately 8.04% of Geo Group as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of GEO. Geneos Wealth Management Inc. raised its holdings in Geo Group by 245.1% during the second quarter. Geneos Wealth Management Inc. now owns 1,101 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 782 shares in the last quarter. Bessemer Group Inc. increased its holdings in Geo Group by 111.9% in the first quarter. Bessemer Group Inc. now owns 1,723 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 910 shares in the last quarter. IFP Advisors Inc purchased a new position in Geo Group in the 4th quarter valued at approximately $30,000. Global Retirement Partners LLC purchased a new stake in Geo Group during the second quarter worth $34,000. Finally, NewEdge Advisors LLC grew its holdings in Geo Group by 81.9% in the first quarter. NewEdge Advisors LLC now owns 1,864 shares of the real estate investment trust's stock valued at $54,000 after purchasing an additional 839 shares during the last quarter. Institutional investors and hedge funds own 76.10% of the company's stock.
Insider Buying and Selling
In related news, insider Ronald A. Brack sold 7,000 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $32.00, for a total value of $224,000.00. Following the sale, the insider directly owned 71,614 shares in the company, valued at $2,291,648. The trade was a 8.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Matthew Albence sold 10,000 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $31.69, for a total value of $316,900.00. Following the sale, the vice president directly owned 99,399 shares of the company's stock, valued at approximately $3,149,954.31. This represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.98% of the company's stock.
Geo Group Price Performance
GEO opened at $32.73 on Thursday. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.00. The company's 50-day moving average price is $30.55 and its 200 day moving average price is $23.10. Geo Group Inc has a fifty-two week low of $12.51 and a fifty-two week high of $33.15. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.76 and a beta of 0.79.
Geo Group (NYSE:GEO - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.08. Geo Group had a return on equity of 10.42% and a net margin of 10.31%.The business had revenue of $732.07 million for the quarter, compared to analysts' expectations of $721.43 million. During the same period in the prior year, the firm earned $0.22 EPS. The business's quarterly revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts expect that Geo Group Inc will post 1.31 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. Northland Securities upped their price target on shares of Geo Group from $30.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, June 26th. Wall Street Zen cut Geo Group from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Zacks Research raised shares of Geo Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 20th. Weiss Ratings upgraded shares of Geo Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, June 9th. Finally, JonesTrading increased their price objective on shares of Geo Group from $33.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Geo Group presently has an average rating of "Buy" and an average price target of $40.00.
View Our Latest Report on Geo Group
About Geo Group
(
Free Report)
The GEO Group NYSE: GEO is a leading provider of correctional, detention and community reentry services to government agencies around the world. As a real estate investment trust, the company specializes in the design, financing, development and operation of secure facilities for adult and juvenile offenders, immigration detainees and individuals requiring mental health treatment or substance abuse programming. GEO's integrated service model also encompasses electronic monitoring, rehabilitative programming and post-release supervision aimed at reducing recidivism and enhancing public safety.
GEO's portfolio spans a range of facility types, including medium- and maximum-security correctional institutions, residential reentry centers, mental health treatment units and immigration detention centers.
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