Rhumbline Advisers Trims Stake in Geo Group Inc (The) $GEO

Rhumbline Advisers lessened its holdings in shares of Geo Group Inc (The) (NYSE:GEO) by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 359,016 shares of the real estate investment trust’s stock after selling 13,292 shares during the quarter. Rhumbline Advisers owned approximately 0.25% of Geo Group worth $10,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Twin Tree Management LP bought a new position in Geo Group in the 1st quarter worth $39,000. NewEdge Advisors LLC increased its position in Geo Group by 81.9% in the first quarter. NewEdge Advisors LLC now owns 1,864 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 839 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Geo Group in the first quarter worth about $58,000. Covestor Ltd lifted its position in shares of Geo Group by 19.8% during the 1st 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 in the last quarter. Finally, Morse Asset Management Inc grew its stake in shares of Geo Group by 29.0% during the 4th quarter. Morse Asset Management Inc now owns 6,760 shares of the real estate investment trust’s stock valued at $189,000 after acquiring an additional 1,520 shares during the period. 76.10% of the stock is currently owned by hedge funds and other institutional investors.

Geo Group Trading Down 1.1%

Shares of Geo Group stock opened at $21.33 on Thursday. Geo Group Inc has a twelve month low of $11.75 and a twelve month high of $36.46. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $23.17 and a 200-day moving average price of $25.77. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 32.81, a PEG ratio of 2.34 and a beta of 0.75.

Geo Group (NYSE:GEO) last announced its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. Geo Group had a return on equity of 7.26% and a net margin of 3.69%.The company had revenue of $636.17 million during the quarter, compared to analyst estimates of $621.55 million. During the same period in the prior year, the company earned $0.23 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. Equities research analysts anticipate that Geo Group Inc will post 0.83 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on GEO. Wedbush restated an “outperform” rating and set a $36.00 target price on shares of Geo Group in a research note on Monday, June 23rd. Jones Trading reduced their price objective on shares of 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 equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price 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.