Tectonic Advisors LLC acquired a new stake in shares of Geo Group Inc (The) (NYSE:GEO - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 24,351 shares of the real estate investment trust's stock, valued at approximately $583,000.
Other large investors have also added to or reduced their stakes in the company. Sciencast Management LP purchased a new position in Geo Group during the first quarter valued at $489,000. SG Americas Securities LLC purchased a new position in Geo Group during the first quarter valued at $965,000. Intech Investment Management LLC raised its stake in Geo Group by 53.9% during the first quarter. Intech Investment Management LLC now owns 127,483 shares of the real estate investment trust's stock valued at $3,724,000 after buying an additional 44,649 shares during the last quarter. Hodges Capital Management Inc. raised its stake in Geo Group by 61.6% during the first quarter. Hodges Capital Management Inc. now owns 283,614 shares of the real estate investment trust's stock valued at $8,284,000 after buying an additional 108,114 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Geo Group during the first quarter valued at $296,000. Hedge funds and other institutional investors own 76.10% of the company's stock.
Geo Group Stock Performance
Shares of GEO opened at $18.22 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.90 and a quick ratio of 0.90. Geo Group Inc has a one year low of $13.36 and a one year high of $36.46. The firm has a market capitalization of $2.58 billion, a P/E ratio of 28.03, a PEG ratio of 2.08 and a beta of 0.75. The business has a fifty day moving average of $21.25 and a 200 day moving average of $25.00.
Geo Group (NYSE:GEO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.22 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 company 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 company posted $0.23 earnings per share. Geo Group's revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Geo Group Inc will post 0.83 EPS for the current year.
Geo Group announced that its board has initiated a stock buyback plan on Wednesday, August 6th that authorizes the company to buyback $300.00 million in 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 plans are typically a sign that the company's board believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on GEO shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Geo Group in a research note on Wednesday. Wedbush reiterated an "outperform" rating and set a $36.00 price objective on shares of Geo Group in a research note on Monday, June 23rd. Finally, Jones Trading lowered their price objective on Geo Group from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.00.
Read Our Latest Analysis on GEO
Geo Group Company Profile
(
Free Report)
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.
See Also
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