Geo Group Inc (The) (NYSE:GEO) Position Lessened by Cetera Investment Advisers

Cetera Investment Advisers trimmed its position in shares of Geo Group Inc (The) (NYSE:GEO) by 76.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,481 shares of the real estate investment trust’s stock after selling 65,182 shares during the period. Cetera Investment Advisers’ holdings in Geo Group were worth $598,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. raised its holdings in Geo Group by 202.6% during the fourth quarter. Point72 Asset Management L.P. now owns 2,124,783 shares of the real estate investment trust’s stock valued at $59,451,000 after buying an additional 1,422,676 shares in the last quarter. Newbrook Capital Advisors LP bought a new position in Geo Group during the fourth quarter valued at about $35,738,000. BlueCrest Capital Management Ltd bought a new position in Geo Group during the fourth quarter valued at about $34,456,000. Wellington Management Group LLP bought a new position in Geo Group during the fourth quarter valued at about $17,685,000. Finally, Findell Capital Management LLC bought a new position in Geo Group during the fourth quarter valued at about $14,410,000. 76.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GEO has been the topic of several research analyst reports. Jones Trading lowered their price target on Geo Group from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Wedbush reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Geo Group in a research report on Monday, June 23rd. Finally, Wall Street Zen raised Geo Group from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Geo Group Stock Up 0.9%

GEO stock opened at $20.95 on Friday. Geo Group Inc has a twelve month low of $11.75 and a twelve month high of $36.46. The company has a market cap of $2.97 billion, a PE ratio of 32.23, a price-to-earnings-growth ratio of 2.26 and a beta of 0.75. The business’s 50-day simple moving average is $24.43 and its 200 day simple moving average is $26.67. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.07.

Geo Group (NYSE:GEO) last released its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, topping 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 business had revenue of $636.17 million for the quarter, compared to the consensus estimate of $621.55 million. During the same period last year, the business earned $0.23 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, research analysts anticipate that Geo Group Inc will post 0.83 earnings per share for the current year.

Geo Group announced that its board has authorized a share repurchase program on Wednesday, August 6th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Geo Group Company Profile

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.