Newbrook Capital Advisors LP Sells 143,901 Shares of Geo Group Inc (The) $GEO

Key Points

• Newbrook Capital Advisors LP reduced its stake in Geo Group Inc by 11.3%, owning 1,133,363 shares after selling 143,901 shares during the first quarter.
• Geo Group reported $0.22 earnings per share (EPS) for the recent quarter, exceeding estimates, along with a revenue of $636.17 million, which was a 4.8% increase compared to the previous year.
• The company has approved a $300 million share buyback plan, indicating management's belief that its stock is undervalued, and currently operates with a market cap of $2.94 billion.

Newbrook Capital Advisors LP decreased its holdings in shares of Geo Group Inc (The) (NYSE:GEO - Free Report) by 11.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,133,363 shares of the real estate investment trust's stock after selling 143,901 shares during the period. Geo Group comprises approximately 5.2% of Newbrook Capital Advisors LP's holdings, making the stock its 7th largest position. Newbrook Capital Advisors LP owned about 0.80% of Geo Group worth $33,106,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GEO. Covestor Ltd boosted its stake 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 valued at $77,000 after purchasing an additional 438 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Geo Group by 2.8% in the first quarter. Hsbc Holdings PLC now owns 19,208 shares of the real estate investment trust's stock valued at $560,000 after buying an additional 520 shares in the last quarter. GAMMA Investing LLC increased its holdings in Geo Group by 6.9% in the first quarter. GAMMA Investing LLC now owns 8,721 shares of the real estate investment trust's stock valued at $255,000 after buying an additional 566 shares in the last quarter. Xponance Inc. increased its stake in shares of Geo Group by 7.6% during the first quarter. Xponance Inc. now owns 10,120 shares of the real estate investment trust's stock worth $296,000 after purchasing an additional 712 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new stake in shares of Geo Group during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 76.10% of the company's stock.

Geo Group Price Performance

GEO traded down $0.54 on Friday, reaching $20.60. The company had a trading volume of 3,231,096 shares, compared to its average volume of 3,079,872. The company has a fifty day moving average of $23.43 and a 200-day moving average of $25.93. The company has a market capitalization of $2.92 billion, a P/E ratio of 31.69, a PEG ratio of 2.29 and a beta of 0.75. 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 one year low of $11.75 and a one year high of $36.46.

Geo Group (NYSE:GEO - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $636.17 million for the quarter, compared to analysts' expectations of $621.55 million. During the same quarter in the previous year, the company posted $0.23 EPS. The business's revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Geo Group Inc will post 0.83 earnings per share for the current year.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wedbush restated an "outperform" rating and issued a $36.00 price objective on shares of Geo Group in a report on Monday, June 23rd. Wall Street Zen raised shares of Geo Group from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Finally, Jones Trading decreased their price objective on shares of Geo Group from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average 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.