Nuveen LLC Takes $9.38 Million Position in Geo Group Inc (The) $GEO

Key Points

• Nuveen LLC acquired 321,182 shares of Geo Group Inc., valued at approximately $9.38 million, increasing its ownership to about 0.23% as of the latest SEC filing.
• Geo Group reported $0.22 EPS for the most recent quarter, exceeding analysts' consensus estimates, and its revenue increased by 4.8% year-over-year to $636.17 million.
• The board of Geo Group approved a $300 million share repurchase plan, allowing the company to buy back up to 8.2% of its shares, suggesting the management believes the stock is undervalued.

Nuveen LLC bought a new stake in Geo Group Inc (The) (NYSE:GEO - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 321,182 shares of the real estate investment trust's stock, valued at approximately $9,382,000. Nuveen LLC owned about 0.23% of Geo Group at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. NewEdge Advisors LLC bought a new position in shares of Geo Group in the fourth quarter valued at approximately $29,000. NBC Securities Inc. acquired a new stake in shares of Geo Group in the first quarter valued at approximately $58,000. Covestor Ltd increased its holdings in shares of Geo Group by 19.8% in 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. Morse Asset Management Inc increased its holdings in shares of Geo Group by 29.0% in the fourth quarter. Morse Asset Management Inc now owns 6,760 shares of the real estate investment trust's stock valued at $189,000 after purchasing an additional 1,520 shares in the last quarter. Finally, Mariner LLC acquired a new stake in shares of Geo Group in the fourth quarter valued at approximately $208,000. Institutional investors own 76.10% of the company's stock.

Analyst Ratings Changes

GEO has been the subject of a number of research reports. Jones Trading lowered their price target on shares of Geo Group from $50.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Wedbush reissued an "outperform" rating and issued a $36.00 price target on shares of Geo Group in a report on Monday, June 23rd. Finally, Wall Street Zen raised shares of Geo Group from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Geo Group presently has an average rating of "Buy" and a consensus price target of $37.00.

Geo Group Trading Down 1.1%

GEO traded down $0.24 during trading on Thursday, reaching $20.58. 1,275,143 shares of the company's stock were exchanged, compared to its average volume of 3,084,479. The company's fifty day moving average price is $23.73 and its 200-day moving average price is $26.20. 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 fifty-two week low of $11.75 and a fifty-two week high of $36.46. The firm has a market capitalization of $2.91 billion, a PE ratio of 31.68, a P/E/G ratio of 2.25 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. Geo Group had a net margin of 3.69% and a return on equity of 7.26%. The firm had revenue of $636.17 million during the quarter, compared to analyst estimates of $621.55 million. During the same quarter in the previous year, the business earned $0.23 EPS. The business's quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts forecast that Geo Group Inc will post 0.83 EPS for the current year.

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

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.