Geo Group (NYSE:GEO) Insider Sells 7,000 Shares

Key Points

• Insider sale: Ronald Brack sold 7,000 GEO shares at an average price of $32, generating $224,000 and reducing his position by 8.9% to 71,614 shares.
• Strong quarterly performance: GEO reported $0.37 in quarterly EPS, beating estimates of $0.29, while revenue rose 15.1% year over year to $732.07 million.
• Positive analyst sentiment: Analysts maintain an overall “Buy” rating, with an average price target of $40 versus the stock’s reported trading price of $32.20; institutional investors own 76.1% of shares.

Geo Group Inc (The) (NYSE:GEO - Get Free Report) insider Ronald Brack sold 7,000 shares of Geo Group stock in a transaction that occurred on 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 directly owned 71,614 shares in the company, valued at $2,291,648. This represents a 8.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Geo Group Trading Up 0.1%

Shares of GEO stock traded up $0.02 during trading hours on Tuesday, reaching $32.20. 1,966,166 shares of the stock traded hands, compared to its average volume of 2,128,742. Geo Group Inc has a 1-year low of $12.51 and a 1-year high of $33.15. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $4.24 billion, a PE ratio of 15.19, a PEG ratio of 1.79 and a beta of 0.79. The business has a fifty day moving average price of $30.40 and a 200 day moving average price of $22.86.

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

Hedge Funds Weigh In On Geo Group

A number of hedge funds have recently added to or reduced their stakes in GEO. BlackRock Inc. bought a new position in shares of Geo Group during the 2nd quarter worth approximately $570,744,000. Pentwater Capital Management LP purchased a new position in shares of Geo Group during the 2nd quarter valued at $312,698,000. Hsbc Holdings PLC purchased a new position in Geo Group in the 2nd quarter worth approximately $118,673,000. Rubric Capital Management LP boosted its stake in Geo Group by 139.5% in the third quarter. Rubric Capital Management LP now owns 2,986,915 shares of the real estate investment trust's stock worth $61,202,000 after buying an additional 1,739,522 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Geo Group during the second quarter valued at about $47,605,000. Institutional investors own 76.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GEO shares. UBS Group reiterated an "outperform" rating on shares of Geo Group in a research report on Monday, August 10th. Northland Securities raised their price objective on shares of Geo Group from $30.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, June 26th. Wall Street Zen downgraded shares of Geo Group from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Noble Financial restated an "outperform" rating on shares of Geo Group in a report on Monday, August 10th. Finally, Weiss Ratings upgraded Geo Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $40.00.

Geo Group Company 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.

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