Geo Group Inc (The) $GEO Shares Acquired by Algert Global LLC

Key Points

• Algert Global more than doubled its GEO stake in the second quarter, acquiring 253,824 additional shares for a total holding of 488,997 shares valued at approximately $14.45 million. Institutional investors collectively own 76.1% of the company.
• GEO reported stronger-than-expected quarterly results, with earnings per share of $0.37 versus the $0.29 consensus estimate and revenue of $732.07 million, up 15.1% year over year.
• Analyst sentiment remains positive, with a consensus “Buy” rating and a $40 price target, although two company insiders recently sold shares. GEO was trading at $32.20, near its 52-week high of $33.15.

Algert Global LLC boosted its stake in Geo Group Inc (The) (NYSE:GEO - Free Report) by 107.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 488,997 shares of the real estate investment trust's stock after acquiring an additional 253,824 shares during the period. Algert Global LLC owned about 0.37% of Geo Group worth $14,450,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GEO. Cooper Creek Partners Management LLC boosted its holdings in Geo Group by 14.2% during the first quarter. Cooper Creek Partners Management LLC now owns 5,314,006 shares of the real estate investment trust's stock worth $89,328,000 after buying an additional 661,281 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Geo Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 14,894,927 shares of the real estate investment trust's stock worth $240,106,000 after acquiring an additional 98,742 shares during the period. Militia Capital Management LLC purchased a new position in Geo Group during the first quarter worth approximately $3,634,000. Assenagon Asset Management S.A. purchased a new stake in Geo Group during the second quarter valued at about $47,605,000. Finally, Quantinno Capital Management LP increased its position in Geo Group by 304.5% during the 1st quarter. Quantinno Capital Management LP now owns 176,266 shares of the real estate investment trust's stock worth $2,963,000 after purchasing an additional 132,690 shares in the last quarter. Institutional investors and hedge funds own 76.10% of the company's stock.

Geo Group Price Performance

NYSE GEO opened at $32.20 on Wednesday. The company has a 50 day simple moving average of $30.47 and a 200-day simple moving average of $22.98. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 1.76 and a beta of 0.79. Geo Group Inc has a 52-week low of $12.51 and a 52-week high of $33.15. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.65 and a quick ratio of 1.65.

Geo Group (NYSE:GEO - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.08. The business had revenue of $732.07 million for the quarter, compared to the consensus estimate of $721.43 million. Geo Group had a net margin of 10.31% and a return on equity of 10.42%. Geo Group's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 earnings per share. Equities research analysts predict that Geo Group Inc will post 1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on GEO. Weiss Ratings upgraded Geo Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, June 9th. Wall Street Zen cut shares of Geo Group from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. JonesTrading boosted their target price on shares of Geo Group from $33.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. UBS Group reiterated an "outperform" rating on shares of Geo Group in a research report on Monday, August 10th. Finally, Zacks Research upgraded shares of Geo Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $40.00.

Insider Activity at Geo Group

In other Geo Group news, VP Matthew Albence sold 10,000 shares of the firm's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $31.69, for a total value of $316,900.00. Following the sale, the vice president directly owned 99,399 shares in the company, valued at $3,149,954.31. This trade represents a 9.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ronald A. Brack sold 7,000 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $32.00, for a total value of $224,000.00. Following the transaction, the insider owned 71,614 shares in the company, valued at $2,291,648. This represents a 8.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.98% of the stock is owned by corporate insiders.

About Geo Group

The GEO Group NYSE: GEO is a leading provider of correctional, detention and community reentry services to government agencies around the world. As a real estate investment trust, the company specializes in the design, financing, development and operation of secure facilities for adult and juvenile offenders, immigration detainees and individuals requiring mental health treatment or substance abuse programming. GEO's integrated service model also encompasses electronic monitoring, rehabilitative programming and post-release supervision aimed at reducing recidivism and enhancing public safety.

GEO's portfolio spans a range of facility types, including medium- and maximum-security correctional institutions, residential reentry centers, mental health treatment units and immigration detention centers.

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