Invesco Ltd. Boosts Holdings in Geo Group Inc (The) $GEO

Key Points

• Invesco Ltd. increased its holdings in Geo Group Inc by 5.8% in Q1, now owning approximately 1,256,194 shares worth about $36.7 million.
• Geo Group announced a $300 million stock buyback program indicating the board believes shares are undervalued.
• Earnings results showed Geo Group reported $0.22 EPS, exceeding estimates and marking a 4.8% year-over-year revenue increase.

Invesco Ltd. raised its holdings in shares of Geo Group Inc (The) (NYSE:GEO - Free Report) by 5.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,256,194 shares of the real estate investment trust's stock after acquiring an additional 68,763 shares during the quarter. Invesco Ltd. owned approximately 0.89% of Geo Group worth $36,693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GEO. Point72 Asset Management L.P. boosted its stake in shares of Geo Group by 202.6% during the 4th quarter. Point72 Asset Management L.P. now owns 2,124,783 shares of the real estate investment trust's stock worth $59,451,000 after purchasing an additional 1,422,676 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Geo Group by 12.6% during the 4th quarter. Northern Trust Corp now owns 1,522,360 shares of the real estate investment trust's stock worth $42,596,000 after purchasing an additional 170,248 shares during the last quarter. Newbrook Capital Advisors LP acquired a new stake in shares of Geo Group during the 4th quarter worth about $35,738,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Geo Group during the 4th quarter worth about $34,456,000. Finally, Deutsche Bank AG boosted its stake in shares of Geo Group by 49.6% during the 4th quarter. Deutsche Bank AG now owns 1,080,865 shares of the real estate investment trust's stock worth $30,243,000 after purchasing an additional 358,574 shares during the last quarter. 76.10% of the stock is currently owned by hedge funds and other institutional investors.

Geo Group Price Performance

GEO opened at $20.94 on Tuesday. The company's 50 day simple moving average is $24.31 and its 200 day simple moving average is $26.53. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.90 and a current ratio of 0.90. Geo Group Inc has a 1 year low of $11.75 and a 1 year high of $36.46. The stock has a market capitalization of $2.96 billion, a PE ratio of 32.22, a P/E/G ratio of 2.28 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. Geo Group had a net margin of 3.69% and a return on equity of 7.26%. The business had revenue of $636.17 million for the quarter, compared to analysts' expectations of $621.55 million. During the same period last year, the company earned $0.23 earnings per share. The company'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 EPS for the current year.

Geo Group announced that its board has initiated a stock buyback program on Wednesday, August 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

GEO has been the topic of several analyst reports. Jones Trading decreased their price target on shares of Geo Group from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Wedbush reaffirmed an "outperform" rating and set a $36.00 price target on shares of Geo Group in a research note on Monday, June 23rd. Finally, Wall Street Zen raised shares of Geo Group from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

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.

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