Algert Global LLC Has $2.35 Million Stock Holdings in Geo Group Inc (The) $GEO

Key Points

• Algert Global LLC significantly increased its holdings in Geo Group Inc by 57.1%, acquiring 29,200 shares during the first quarter, bringing its total to 80,340 shares valued at approximately $2.35 million.
• Geo Group recently reported a quarterly EPS of $0.22, exceeding analyst expectations, with revenues of $636.17 million, marking a 4.8% year-over-year increase.
• The company's Board of Directors has initiated a $300 million stock buyback plan, indicating confidence in the company's valuation.

Algert Global LLC raised its holdings in Geo Group Inc (The) (NYSE:GEO - Free Report) by 57.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 80,340 shares of the real estate investment trust's stock after acquiring an additional 29,200 shares during the quarter. Algert Global LLC owned approximately 0.06% of Geo Group worth $2,347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GEO. NewEdge Advisors LLC acquired a new position in Geo Group in the 4th quarter valued at approximately $29,000. NBC Securities Inc. acquired a new position in Geo Group in the 1st quarter valued at approximately $58,000. Covestor Ltd increased its position in Geo Group by 19.8% in the 1st quarter. Covestor Ltd now owns 2,653 shares of the real estate investment trust's stock valued at $77,000 after acquiring an additional 438 shares during the period. Morse Asset Management Inc increased its position in Geo Group by 29.0% in the 4th quarter. Morse Asset Management Inc now owns 6,760 shares of the real estate investment trust's stock valued at $189,000 after acquiring an additional 1,520 shares during the period. Finally, Mariner LLC acquired a new position in Geo Group in the 4th quarter valued at approximately $208,000. 76.10% of the stock is currently owned by institutional investors and hedge funds.

Geo Group Stock Up 0.6%

NYSE:GEO traded up $0.12 during trading hours on Wednesday, reaching $20.83. The company had a trading volume of 2,841,067 shares, compared to its average volume of 3,777,209. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.07. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 32.05, a P/E/G ratio of 2.25 and a beta of 0.75. The business's 50-day simple moving average is $23.73 and its two-hundred day simple moving average is $26.20. Geo Group Inc has a twelve month low of $11.75 and a twelve month high of $36.46.

Geo Group (NYSE:GEO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. The business had revenue of $636.17 million during the quarter, compared to analysts' expectations of $621.55 million. Geo Group had a net margin of 3.69% and a return on equity of 7.26%. The business's quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the company posted $0.23 earnings per share. On average, equities analysts expect that Geo Group Inc will post 0.83 earnings per share for the current year.

Geo Group announced that its board has approved a share repurchase program on Wednesday, August 6th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Geo Group from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Wedbush restated an "outperform" rating and issued a $36.00 price target on shares of Geo Group in a research report on Monday, June 23rd. Finally, Jones Trading decreased their price target on shares of Geo Group from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Geo Group currently has an average rating of "Buy" and an average price target of $37.00.

About Geo Group

The GEO Group, Inc NYSE: GEO engages in ownership, leasing, and management of secure facilities, processing centers, and community-based reentry facilities in the United States, Australia, the United Kingdom, and South Africa. The company also provides secure facility management services, including the provision of security, administrative, rehabilitation, education, and food services; reentry services, such as temporary housing, programming, employment assistance, and other services; electronic monitoring and supervision services; and transportation services; as well as designs, constructs, and finances new facilities through projects.