Maverick Capital Ltd. Buys 19,491 Shares of Geo Group Inc (The) $GEO

Key Points

• Maverick Capital Ltd. increased its stake in Geo Group Inc by 121.5% in Q1, owning 35,528 shares valued at approximately $1,038,000.
• Analysts generally have a Buy rating for Geo Group, with a consensus price target of $37.00, despite varying opinions on future price targets from several firms.
• Geo Group reported a quarterly earnings per share of $0.22, surpassing analysts' expectations, with revenue showing a 4.8% year-over-year increase.

Maverick Capital Ltd. raised its holdings in Geo Group Inc (The) (NYSE:GEO - Free Report) by 121.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 35,528 shares of the real estate investment trust's stock after acquiring an additional 19,491 shares during the quarter. Maverick Capital Ltd.'s holdings in Geo Group were worth $1,038,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Apis Capital Advisors LLC increased its position in Geo Group by 194.3% during the 1st quarter. Apis Capital Advisors LLC now owns 1,211,000 shares of the real estate investment trust's stock valued at $35,373,000 after purchasing an additional 799,500 shares during the period. Alamea Verwaltungs GmbH acquired a new stake in shares of Geo Group during the 1st quarter worth approximately $203,000. Nomura Holdings Inc. acquired a new stake in shares of Geo Group during the 1st quarter worth approximately $1,278,000. Twin Tree Management LP acquired a new stake in shares of Geo Group during the 1st quarter worth approximately $39,000. Finally, Harber Asset Management LLC grew its position in shares of Geo Group by 6.9% during the 1st quarter. Harber Asset Management LLC now owns 197,665 shares of the real estate investment trust's stock worth $5,774,000 after buying an additional 12,835 shares during the period. 76.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Geo Group Stock Down 2.6%

NYSE:GEO traded down $0.54 during trading hours on Friday, hitting $20.60. 3,231,177 shares of the company traded hands, compared to its average volume of 2,919,102. 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 firm's 50-day simple moving average is $23.36 and its 200-day simple moving average is $25.87. Geo Group Inc has a one year low of $11.75 and a one year high of $36.46. The company has a market cap of $2.92 billion, a PE ratio of 31.69, a PEG ratio of 2.24 and a beta of 0.75.

Geo Group (NYSE:GEO - Get Free Report) last released its 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 analysts' expectations of $621.55 million. Geo Group had a return on equity of 7.26% and a net margin of 3.69%.The business's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.23 EPS. Equities analysts predict that Geo Group Inc will post 0.83 earnings per share for the current year.

Geo Group announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 6th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the real estate investment trust to reacquire up to 8.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its stock is undervalued.

Geo Group 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.