Geo Group (NYSE:GEO) VP Sells $371,015.65 in Stock

Key Points

• Insider sale: GEO Group VP Matthew Albence sold 11,797 shares for approximately $371,016, reducing his ownership by 11.87% to 87,602 shares. He also sold 10,000 shares in August.
• Strong financial results: The company reported quarterly EPS of $0.37, exceeding estimates of $0.29, while revenue rose 15.1% year over year to $732.07 million.
• Positive analyst and institutional sentiment: GEO has an overall “Buy” rating with a $40 average price target, while major investors including BlackRock and Pentwater Capital established significant positions; institutions and hedge funds own 76.1% of the stock.

Geo Group Inc (The) (NYSE:GEO - Get Free Report) VP Matthew Albence sold 11,797 shares of the business's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $31.45, for a total transaction of $371,015.65. Following the transaction, the vice president owned 87,602 shares in the company, valued at $2,755,082.90. The trade was a 11.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Matthew Albence also recently made the following trade(s):

• On Thursday, August 20th, Matthew Albence sold 10,000 shares of Geo Group stock. The shares were sold at an average price of $31.69, for a total transaction of $316,900.00.

Geo Group Price Performance

GEO stock traded up $0.41 during mid-day trading on Tuesday, reaching $31.26. The company's stock had a trading volume of 2,204,089 shares, compared to its average volume of 2,116,769. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.00. The company's 50 day moving average is $31.01 and its two-hundred day moving average is $24.64. Geo Group Inc has a fifty-two week low of $12.51 and a fifty-two week high of $33.15. The stock has a market cap of $4.11 billion, a PE ratio of 14.75, a P/E/G ratio of 1.72 and a beta of 0.78.

Geo Group (NYSE:GEO - Get Free Report) last issued its 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. The business 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. Equities research analysts expect that Geo Group Inc will post 1.31 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on GEO shares. Weiss Ratings restated a "hold (c+)" rating on shares of Geo Group in a report on Friday, September 4th. Northland Securities lifted their price target on Geo Group from $30.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, June 26th. Noble Financial reissued an "outperform" rating on shares of Geo Group in a research report on Monday, August 10th. Wall Street Zen lowered shares of Geo Group from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, JonesTrading upped their price objective on shares of Geo Group from $33.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Geo Group has an average rating of "Buy" and an average price target of $40.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GEO. BlackRock Inc. acquired a new stake in Geo Group during the second quarter worth $570,744,000. Pentwater Capital Management LP acquired a new position in shares of Geo Group in the 2nd quarter valued at $312,698,000. Hsbc Holdings PLC purchased a new position in shares of Geo Group during the 2nd quarter worth $118,673,000. Assenagon Asset Management S.A. purchased a new position in shares of Geo Group during the 2nd quarter worth $47,605,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Geo Group during the 2nd quarter worth about $23,825,000. 76.10% of the stock is currently owned by institutional investors and hedge funds.

About Geo Group

The GEO Group, Inc NYSE: GEO is a provider of correctional, detention, reentry and community-based services. The company designs, develops, finances and manages secure facilities for government agencies, including correctional institutions, immigration detention centers and other custodial facilities.

GEO also provides electronic monitoring and community supervision services, including location monitoring, case management and related technologies. Through its reentry services, the company operates residential centers and programs intended to support individuals transitioning from incarceration to community living, employment and other post-release services.

Founded in 1984 as Wackenhut Corrections Corporation, the company adopted the name The GEO Group in 2003.

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