Caxton Associates LLP Takes $1.35 Million Position in Geo Group Inc (The) $GEO

Key Points

• Caxton Associates LLP acquired 46,353 shares of Geo Group Inc, valued at approximately $1.35 million, marking a new position for the investment firm.
• Geo Group reported $0.22 earnings per share for the quarter, exceeding the consensus estimate of $0.16, along with a quarterly revenue increase of 4.8% year-over-year.
• The company’s Board of Directors initiated a stock buyback program allowing for repurchase of up to $300 million in shares, indicating management's belief that the stock is undervalued.

Caxton Associates LLP purchased a new position in shares of Geo Group Inc (The) (NYSE:GEO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 46,353 shares of the real estate investment trust's stock, valued at approximately $1,354,000.

Other institutional investors have also modified their holdings of the company. Twin Tree Management LP bought a new position in shares of Geo Group during the first quarter worth about $39,000. NewEdge Advisors LLC grew its position in shares of Geo Group by 81.9% during the first quarter. NewEdge Advisors LLC now owns 1,864 shares of the real estate investment trust's stock worth $54,000 after acquiring an additional 839 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Geo Group during the first quarter worth about $58,000. Covestor Ltd grew its position in shares of Geo Group by 19.8% during the first quarter. Covestor Ltd now owns 2,653 shares of the real estate investment trust's stock worth $77,000 after acquiring an additional 438 shares during the last quarter. Finally, Morse Asset Management Inc grew its position in shares of Geo Group by 29.0% during the fourth quarter. Morse Asset Management Inc now owns 6,760 shares of the real estate investment trust's stock worth $189,000 after acquiring an additional 1,520 shares during the last quarter. Institutional investors own 76.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GEO shares. Wedbush restated an "outperform" rating and set a $36.00 price target on shares of Geo Group in a research report on Monday, June 23rd. Jones Trading reduced their price objective on shares of Geo Group from $50.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $37.00.

Geo Group Trading Up 0.2%

GEO stock traded up $0.05 during mid-day trading on Monday, reaching $22.10. 525,829 shares of the stock traded hands, compared to its average volume of 3,054,427. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.07. Geo Group Inc has a 52-week low of $12.29 and a 52-week high of $36.46. The company has a market cap of $3.13 billion, a P/E ratio of 33.93, a P/E/G ratio of 2.40 and a beta of 0.75. The stock's fifty day moving average is $23.03 and its 200-day moving average is $25.72.

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, beating analysts' consensus estimates of $0.16 by $0.06. Geo Group had a net margin of 3.69% and a return on equity of 7.26%. The company had revenue of $636.17 million during the quarter, compared to analyst estimates of $621.55 million. During the same period in the prior year, the firm earned $0.23 earnings per share. The business's quarterly revenue was up 4.8% on a year-over-year basis. As a group, sell-side analysts expect that Geo Group Inc will post 0.83 earnings per share for the current year.

Geo Group declared that its Board of Directors has authorized a share repurchase plan 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 reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its shares are 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.