Wellington Management Group LLP Has $76.20 Million Position in Geo Group Inc (The) $GEO

Key Points

• Wellington Management Group LLP increased its stake in Geo Group by 312.7%, owning 2,608,619 shares valued at approximately $76.20 million as of the last quarter.
• Geo Group reported $0.22 earnings per share for its most recent quarter, surpassing the consensus estimate of $0.16, which indicates a year-over-year revenue increase of 4.8%.
• The company announced a $300 million share buyback plan that allows it to repurchase up to 8.2% of its outstanding shares, suggesting a belief that the stock is undervalued.

Wellington Management Group LLP boosted its position in Geo Group Inc (The) (NYSE:GEO - Free Report) by 312.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,608,619 shares of the real estate investment trust's stock after purchasing an additional 1,976,544 shares during the period. Wellington Management Group LLP owned 1.85% of Geo Group worth $76,198,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC acquired a new stake in shares of Geo Group in the fourth quarter valued at about $29,000. NBC Securities Inc. acquired a new stake in shares of Geo Group in the first quarter valued at about $58,000. Covestor Ltd increased its stake 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 buying an additional 438 shares during the period. Morse Asset Management Inc increased its stake 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 buying an additional 1,520 shares during the period. Finally, Mariner LLC acquired a new stake in shares of Geo Group in the fourth quarter valued at about $208,000. Institutional investors and hedge funds own 76.10% of the company's stock.

Geo Group Trading Up 0.9%

NYSE GEO opened at $21.3590 on Friday. The business has a 50 day simple moving average of $23.95 and a 200 day simple moving average of $26.34. Geo Group Inc has a one year low of $11.75 and a one year high of $36.46. The stock has a market capitalization of $3.02 billion, a P/E ratio of 32.86, a P/E/G ratio of 2.30 and a beta of 0.75. 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 (NYSE:GEO - Get Free Report) last announced its quarterly 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. The business had revenue of $636.17 million for the quarter, compared to analyst estimates of $621.55 million. Geo Group had a return on equity of 7.26% and a net margin of 3.69%.The company's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 earnings per share. Research analysts expect that Geo Group Inc will post 0.83 earnings per share for the current year.

Geo Group declared that its board has authorized a share buyback plan on Wednesday, August 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised Geo Group from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Wedbush reissued an "outperform" rating and issued a $36.00 price target on shares of Geo Group in a research note on Monday, June 23rd. Finally, Jones Trading decreased their target price 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, Based on data from MarketBeat, Geo Group currently has an average rating of "Buy" and an average price target of $37.00.

About Geo Group

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.

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