Allianz Asset Management GmbH Lowers Holdings in Geo Group Inc (The) $GEO

Key Points

• Allianz Asset Management GmbH has reduced its holdings in Geo Group Inc by 12.5% in Q2, now owning 1,271,544 shares worth approximately $30.45 million.
• Wall Street analysts have mixed opinions on Geo Group, with four giving it a Buy rating and one a Hold rating, and a consensus price target of $37.00.
• Geo Group reported $0.41 earnings per share in its latest quarter and has initiated a $300 million share buyback plan, representing 8.2% of its stock, indicating management's confidence in the stock's valuation.

Allianz Asset Management GmbH decreased its holdings in Geo Group Inc (The) (NYSE:GEO - Free Report) by 12.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,271,544 shares of the real estate investment trust's stock after selling 182,155 shares during the quarter. Allianz Asset Management GmbH owned 0.90% of Geo Group worth $30,453,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. RoundAngle Advisors LLC raised its position in Geo Group by 1.5% in the 2nd quarter. RoundAngle Advisors LLC now owns 35,120 shares of the real estate investment trust's stock worth $841,000 after buying an additional 509 shares during the last quarter. Yousif Capital Management LLC raised its position in Geo Group by 2.5% in the 2nd quarter. Yousif Capital Management LLC now owns 51,917 shares of the real estate investment trust's stock worth $1,243,000 after buying an additional 1,256 shares during the last quarter. Tectonic Advisors LLC purchased a new position in Geo Group in the 2nd quarter worth about $583,000. Maryland State Retirement & Pension System raised its position in Geo Group by 2.5% in the 2nd quarter. Maryland State Retirement & Pension System now owns 40,723 shares of the real estate investment trust's stock worth $975,000 after buying an additional 1,005 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Geo Group by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 64,700 shares of the real estate investment trust's stock worth $1,550,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 76.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Geo Group in a research report on Wednesday, October 8th. Wall Street Zen raised Geo Group from a "hold" rating to a "buy" rating in a research report on Saturday, October 11th. Jones Trading decreased their target price on Geo Group from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Finally, Wedbush restated an "outperform" rating and set a $36.00 price target on shares of Geo Group in a research note on Monday, June 23rd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

Geo Group Trading Up 1.5%

Geo Group stock opened at $17.00 on Friday. The business has a 50-day simple moving average of $20.49 and a two-hundred day simple moving average of $24.45. The company has a market cap of $2.41 billion, a P/E ratio of 26.15, a P/E/G ratio of 1.91 and a beta of 0.75. Geo Group Inc has a 52-week low of $13.59 and a 52-week high of $36.46. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.07.

Geo Group (NYSE:GEO - Get Free Report) last announced its quarterly earnings data on Wednesday, September 28th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter. The company had revenue of $565.42 million during the quarter. Geo Group had a return on equity of 7.26% and a net margin of 3.69%. Geo Group has set its FY22 guidance at $2.40-2.46 EPS. Analysts predict that Geo Group Inc will post 0.83 EPS for the current year.

Geo Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 6th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 8.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management 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.

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