Rhumbline Advisers Sells 13,292 Shares of Geo Group Inc (The) $GEO

Key Points

• Rhumbline Advisers has reduced its stake in Geo Group Inc by 3.6%, now holding approximately 0.25% of the company valued at $10.5 million.
• Geo Group reported an earnings per share of $0.22, exceeding estimates, and announced a stock buyback plan of $300 million to reacquire 8.2% of its shares.
• Hedge funds and institutional investors own 76.10% of Geo Group’s stock, with various firms adjusting their stake in the company in the recent quarter.

Rhumbline Advisers lowered its stake in shares of Geo Group Inc (The) (NYSE:GEO - Free Report) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359,016 shares of the real estate investment trust's stock after selling 13,292 shares during the quarter. Rhumbline Advisers owned about 0.25% of Geo Group worth $10,487,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sciencast Management LP acquired a new stake in Geo Group during the first quarter worth approximately $489,000. Janus Henderson Group PLC grew its position in Geo Group by 87.4% during the fourth quarter. Janus Henderson Group PLC now owns 100,370 shares of the real estate investment trust's stock worth $2,809,000 after buying an additional 46,820 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Geo Group in the 1st quarter valued at $965,000. GAMMA Investing LLC boosted its holdings in shares of Geo Group by 3,023.7% in the 1st quarter. GAMMA Investing LLC now owns 254,740 shares of the real estate investment trust's stock valued at $7,441,000 after purchasing an additional 246,585 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Geo Group in the 1st quarter valued at $296,000. Institutional investors and hedge funds own 76.10% of the company's stock.

Geo Group Trading Up 0.1%

NYSE:GEO traded up $0.02 during trading hours on Tuesday, hitting $21.87. 766,350 shares of the company were exchanged, compared to its average volume of 3,048,253. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 33.65, a price-to-earnings-growth ratio of 2.40 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 $12.29 and a one year high of $36.46. The company has a fifty day simple moving average of $22.94 and a 200 day simple moving average of $25.68.

Geo Group (NYSE:GEO - Get Free Report) last announced 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 return on equity of 7.26% and a net margin of 3.69%.The business had revenue of $636.17 million during the quarter, compared to analyst estimates of $621.55 million. During the same period last year, the company earned $0.23 EPS. Geo Group's revenue for the quarter was up 4.8% compared to the same quarter last year. Sell-side analysts expect that Geo Group Inc will post 0.83 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GEO. Wedbush reaffirmed an "outperform" rating and issued a $36.00 target price on shares of Geo Group in a report on Monday, June 23rd. Jones Trading reduced their target price on Geo Group from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Geo Group presently has a consensus rating of "Buy" and a consensus price target of $37.00.

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.