57,100 Shares in Geo Group Inc (The) $GEO Purchased by Anson Funds Management LP

Key Points

• Anson Funds Management LP has acquired a new stake in Geo Group Inc, purchasing 57,100 shares valued at approximately $1.67 million during the first quarter.
• In Q2 earnings, Geo Group reported $0.22 earnings per share, exceeding expectations and demonstrating a 4.8% revenue increase year-over-year.
• Geo Group has initiated a $300 million stock repurchase program, allowing buybacks of up to 8.2% of its shares, indicating company confidence in its stock valuation.

Anson Funds Management LP bought a new position in Geo Group Inc (The) (NYSE:GEO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 57,100 shares of the real estate investment trust's stock, valued at approximately $1,668,000.

Several other hedge funds and other institutional investors have also modified their holdings of GEO. Raymond James Financial Inc. acquired a new stake in shares of Geo Group in the fourth quarter worth $2,994,000. Mariner LLC acquired a new stake in shares of Geo Group in the fourth quarter worth $208,000. XTX Topco Ltd acquired a new stake in shares of Geo Group in the fourth quarter worth $260,000. NewEdge Advisors LLC acquired a new stake in shares of Geo Group in the fourth quarter worth $29,000. Finally, MetLife Investment Management LLC boosted its position in shares of Geo Group by 11.1% in the fourth quarter. MetLife Investment Management LLC now owns 75,812 shares of the real estate investment trust's stock worth $2,121,000 after buying an additional 7,548 shares during the period. Institutional investors and hedge funds own 76.10% of the company's stock.

Geo Group Stock Up 0.1%

Shares of NYSE:GEO traded up $0.03 on Friday, reaching $20.63. The company had a trading volume of 1,584,701 shares, compared to its average volume of 3,082,852. Geo Group Inc has a twelve month low of $11.75 and a twelve month high of $36.46. The stock has a 50-day moving average price of $23.66 and a 200 day moving average price of $26.16. The stock has a market capitalization of $2.92 billion, a P/E ratio of 31.73, a P/E/G ratio of 2.26 and a beta of 0.75. 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 posted its quarterly earnings data 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 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%.The firm's revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. On average, equities analysts expect that Geo Group Inc will post 0.83 EPS for the current year.

Geo Group declared that its board has approved a share repurchase program on Wednesday, August 6th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows 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 board believes its stock is undervalued.

Analyst Ratings Changes

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

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.