Geo Group (NYSE:GEO) VP Matthew Albence Sells 10,000 Shares

Key Points

• GEO Group VP Matthew Albence sold 10,000 shares at an average price of $31.69, generating $316,900 and reducing his direct ownership by 9.14% to 99,399 shares.
• GEO Group’s latest quarterly results exceeded expectations, with adjusted earnings of $0.37 per share and revenue of $732.07 million, up 15.1% year over year.
• The stock traded near its 12-month high at $32.19, while analysts maintained a consensus “Buy” rating and a $40 target price; institutional investors own 76.1% of the shares.

Geo Group Inc (The) (NYSE:GEO - Get Free Report) VP Matthew Albence sold 10,000 shares of the firm's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $31.69, for a total transaction of $316,900.00. Following the completion of the transaction, the vice president directly owned 99,399 shares of the company's stock, valued at approximately $3,149,954.31. This trade represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Geo Group Price Performance

Geo Group stock traded down $0.52 during mid-day trading on Monday, reaching $32.19. 1,521,450 shares of the company's stock traded hands, compared to its average volume of 2,129,753. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.79 and a beta of 0.79. The stock has a 50 day moving average of $30.32 and a two-hundred day moving average of $22.75. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.00. Geo Group Inc has a 12-month low of $12.51 and a 12-month high of $33.15.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on GEO. Northland Securities raised their price objective on Geo Group from $30.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, June 26th. Weiss Ratings upgraded Geo Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, June 9th. Wall Street Zen downgraded Geo Group from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Noble Financial reaffirmed an "outperform" rating on shares of Geo Group in a research note on Monday, August 10th. Finally, JonesTrading boosted their price objective on shares of Geo Group from $33.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $40.00.

Institutional Investors Weigh In On Geo Group

Several hedge funds and other institutional investors have recently modified their holdings of GEO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Geo Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,766 shares of the real estate investment trust's stock valued at $2,213,000 after acquiring an additional 3,309 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Geo Group by 81.9% during the first quarter. NewEdge Advisors LLC now owns 1,864 shares of the real estate investment trust's stock valued at $54,000 after purchasing an additional 839 shares during the period. United Services Automobile Association purchased a new stake in shares of Geo Group during the first quarter valued at $260,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Geo Group by 168.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 284,975 shares of the real estate investment trust's stock worth $8,324,000 after purchasing an additional 178,622 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Geo Group by 4.2% in the 2nd quarter. Invesco Ltd. now owns 1,308,817 shares of the real estate investment trust's stock worth $31,346,000 after buying an additional 52,623 shares during the period. 76.10% of the stock is currently owned by hedge funds and other institutional investors.

About Geo Group

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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