Mutual of America Capital Management LLC Reduces Holdings in Geo Group Inc (The) $GEO

Mutual of America Capital Management LLC reduced its stake in Geo Group Inc (The) (NYSE:GEO) by 10.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,801 shares of the real estate investment trust’s stock after selling 2,016 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Geo Group were worth $426,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GEO. Twin Tree Management LP purchased a new position in Geo Group in the 1st quarter valued at approximately $39,000. NewEdge Advisors LLC grew its holdings 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 valued at $54,000 after purchasing an additional 839 shares during the last quarter. Covestor Ltd grew its holdings in Geo Group by 19.8% in the first quarter. Covestor Ltd now owns 2,653 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 438 shares during the last quarter. Militia Capital Partners LP acquired a new stake in Geo Group in the first quarter valued at $91,000. Finally, Alamea Verwaltungs GmbH acquired a new stake in Geo Group in the first quarter valued at $203,000. 76.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on GEO. Wall Street Zen upgraded shares of Geo Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Geo Group in a research report on Wednesday, October 8th. Finally, Jones Trading decreased their target price on shares of Geo Group from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Geo Group has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Geo Group Stock Down 1.8%

GEO stock opened at $16.69 on Wednesday. The stock has a market cap of $2.36 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.90 and a beta of 0.75. The firm’s 50-day simple moving average is $19.97 and its 200 day simple moving average is $23.92. Geo Group Inc has a fifty-two week low of $13.59 and a fifty-two week 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.

Geo Group (NYSE:GEO) last released its quarterly earnings results on Wednesday, September 28th. The real estate investment trust reported $0.41 EPS for the quarter. The company had revenue of $565.42 million for the quarter. Geo Group had a net margin of 3.69% and a return on equity of 7.26%. Geo Group has set its FY22 guidance at $2.40-2.46 EPS. As a group, sell-side analysts predict that Geo Group Inc will post 0.83 EPS for the current year.

Geo Group declared that its Board of Directors has authorized a share buyback program on Wednesday, August 6th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy up to 8.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.