Algert Global LLC Purchases 29,200 Shares of 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 boosted its position in Geo Group Inc (The) (NYSE:GEO - Free Report) by 57.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,340 shares of the real estate investment trust's stock after acquiring an additional 29,200 shares during the period. Algert Global LLC owned 0.06% of Geo Group worth $2,347,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its holdings in Geo Group by 202.6% in the fourth quarter. Point72 Asset Management L.P. now owns 2,124,783 shares of the real estate investment trust's stock valued at $59,451,000 after acquiring an additional 1,422,676 shares during the last quarter. Northern Trust Corp boosted its holdings in Geo Group by 12.6% in the fourth quarter. Northern Trust Corp now owns 1,522,360 shares of the real estate investment trust's stock valued at $42,596,000 after acquiring an additional 170,248 shares during the last quarter. Newbrook Capital Advisors LP bought a new position in Geo Group in the fourth quarter valued at about $35,738,000. Invesco Ltd. boosted its holdings in Geo Group by 5.8% in the first quarter. Invesco Ltd. now owns 1,256,194 shares of the real estate investment trust's stock valued at $36,693,000 after acquiring an additional 68,763 shares during the last quarter. Finally, BlueCrest Capital Management Ltd bought a new position in Geo Group in the fourth quarter valued at about $34,456,000. Institutional investors own 76.10% of the company's stock.

Analysts Set New Price Targets

GEO has been the topic of several recent research reports. Jones Trading decreased their price target on Geo Group from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Wall Street Zen raised Geo Group from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Wedbush reissued an "outperform" rating and issued a $36.00 target price on shares of Geo Group in a research note on Monday, June 23rd. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, Geo Group presently has a consensus rating of "Buy" and a consensus target price of $37.00.

Geo Group Stock Down 2.2%

Shares of NYSE GEO traded down $0.47 during mid-day trading on Monday, reaching $20.96. 2,437,999 shares of the company's stock were exchanged, compared to its average volume of 3,092,256. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 32.25, a PEG ratio of 2.33 and a beta of 0.75. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.07. The business has a fifty day simple moving average of $23.95 and a 200 day simple moving average of $26.32. 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 released 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 company had revenue of $636.17 million for the quarter, compared to analyst estimates of $621.55 million. Geo Group had a return on equity of 7.26% and a net margin of 3.69%.Geo Group's revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. As a group, equities analysts expect that Geo Group Inc will post 0.83 EPS for the current fiscal year.

Geo Group announced that its board has approved a share buyback program on Wednesday, August 6th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Geo Group Company Profile

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.