UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in Geo Group Inc (The) $GEO

Key Points

• UBS Asset Management increased its Geo Group stake by 5,260.4% in the second quarter, bringing its holdings to 200,479 shares valued at approximately $5.9 million. Institutional investors collectively own 76.1% of GEO’s stock.
• Geo Group reported quarterly EPS of $0.37, beating estimates of $0.29, while revenue rose 15.1% year over year to $732.1 million. The stock opened at $31.96, near its 52-week high of $33.15.
• Analyst sentiment is broadly positive, with the stock carrying a consensus “Buy” rating and an average price target of $40.00. However, two company insiders recently sold shares, and insiders retain a 4.98% ownership stake.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Geo Group Inc (The) (NYSE:GEO - Free Report) by 5,260.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 200,479 shares of the real estate investment trust's stock after purchasing an additional 196,739 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.15% of Geo Group worth $5,924,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its position in shares of Geo Group by 245.1% during the second quarter. Geneos Wealth Management Inc. now owns 1,101 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 782 shares during the period. Global Retirement Partners LLC purchased a new stake in Geo Group in the second quarter worth about $34,000. Bessemer Group Inc. lifted its holdings in Geo Group by 111.9% in the first quarter. Bessemer Group Inc. now owns 1,723 shares of the real estate investment trust's stock worth $29,000 after buying an additional 910 shares during the period. IFP Advisors Inc bought a new stake in Geo Group during the 4th quarter valued at approximately $30,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Geo Group by 81.9% during the 1st quarter. NewEdge Advisors LLC now owns 1,864 shares of the real estate investment trust's stock worth $54,000 after acquiring an additional 839 shares during the period. 76.10% of the stock is owned by hedge funds and other institutional investors.

Geo Group Price Performance

GEO stock opened at $31.96 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.65 and a current ratio of 1.65. The firm has a 50 day moving average price of $30.91 and a 200-day moving average price of $24.15. Geo Group Inc has a 52-week low of $12.51 and a 52-week high of $33.15. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.74 and a beta of 0.78.

Geo Group (NYSE:GEO - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. Geo Group had a return on equity of 10.42% and a net margin of 10.31%.The company had revenue of $732.07 million for the quarter, compared to the consensus estimate of $721.43 million. During the same quarter in the prior year, the business posted $0.22 EPS. The firm's quarterly revenue was up 15.1% compared to the same quarter last year. Equities research analysts forecast that Geo Group Inc will post 1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GEO. JonesTrading increased their target price on Geo Group from $33.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Noble Financial restated an "outperform" rating on shares of Geo Group in a research report on Monday, August 10th. Northland Securities upped their price target on Geo Group from $30.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, June 26th. Zacks Research upgraded Geo Group from a "hold" rating to a "strong-buy" rating in a report on Monday, July 20th. Finally, UBS Group restated an "outperform" rating on shares of Geo Group in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $40.00.

Insiders Place Their Bets

In other news, VP Matthew Albence sold 10,000 shares of Geo Group stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $31.69, for a total value of $316,900.00. Following the completion of the transaction, the vice president owned 99,399 shares of the company's stock, valued at $3,149,954.31. The trade was a 9.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ronald A. Brack sold 7,000 shares of the company's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $32.00, for a total transaction of $224,000.00. Following the completion of the transaction, the insider owned 71,614 shares in the company, valued at approximately $2,291,648. The trade was a 8.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.98% of the company's stock.

Geo Group Profile

The GEO Group NYSE: GEO is a leading provider of correctional, detention and community reentry services to government agencies around the world. As a real estate investment trust, the company specializes in the design, financing, development and operation of secure facilities for adult and juvenile offenders, immigration detainees and individuals requiring mental health treatment or substance abuse programming. GEO's integrated service model also encompasses electronic monitoring, rehabilitative programming and post-release supervision aimed at reducing recidivism and enhancing public safety.

GEO's portfolio spans a range of facility types, including medium- and maximum-security correctional institutions, residential reentry centers, mental health treatment units and immigration detention centers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.