Caxton Associates LLP Makes New $1.35 Million Investment 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 acquired a new stake in Geo Group Inc (The) (NYSE:GEO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 46,353 shares of the real estate investment trust's stock, valued at approximately $1,354,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GEO. Sciencast Management LP purchased a new position in Geo Group during the 1st quarter valued at about $489,000. NewEdge Advisors LLC boosted its stake in Geo Group by 81.9% in the first quarter. NewEdge Advisors LLC now owns 1,864 shares of the real estate investment trust's stock worth $54,000 after buying an additional 839 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Geo Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,766 shares of the real estate investment trust's stock worth $2,213,000 after buying an additional 3,309 shares in the last quarter. Cinctive Capital Management LP purchased a new stake in Geo Group in the first quarter worth approximately $4,640,000. Finally, Boothbay Fund Management LLC boosted its stake in shares of Geo Group by 413.5% during the first quarter. Boothbay Fund Management LLC now owns 229,232 shares of the real estate investment trust's stock valued at $6,696,000 after purchasing an additional 184,591 shares during the period. 76.10% of the stock is currently owned by institutional investors.

Geo Group Stock Down 4.0%

Shares of NYSE:GEO traded down $0.92 on Friday, hitting $22.08. 2,061,747 shares of the company traded hands, compared to its average volume of 2,644,132. Geo Group Inc has a 52 week low of $12.29 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. The stock has a 50 day simple moving average of $23.03 and a 200-day simple moving average of $25.73. The company has a market cap of $3.13 billion, a PE ratio of 33.97, a PEG ratio of 2.50 and a beta of 0.75.

Geo Group (NYSE:GEO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. Geo Group had a return on equity of 7.26% and a net margin of 3.69%.The firm had revenue of $636.17 million during the quarter, compared to the consensus estimate of $621.55 million. During the same period last year, the company earned $0.23 earnings per share. The company's revenue was up 4.8% on a year-over-year basis. As a group, research 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 stock repurchase plan 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 purchase up to 8.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GEO shares. 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 report on Thursday, August 7th. Wedbush reiterated an "outperform" rating and issued a $36.00 price objective on shares of Geo Group in a report on Monday, June 23rd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Geo Group has an average rating of "Buy" and a consensus 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.