Bank of New York Mellon Corp Increases Stock Position in Geo Group Inc (The) $GEO

Bank of New York Mellon Corp boosted its position in Geo Group Inc (The) (NYSE:GEO) by 1.3% during the second quarter, Holdings Channel.com reports. The fund owned 872,742 shares of the real estate investment trust’s stock after acquiring an additional 11,080 shares during the period. Bank of New York Mellon Corp’s holdings in Geo Group were worth $20,902,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GEO. Twin Tree Management LP purchased a new stake in shares of Geo Group during the first quarter worth about $39,000. NewEdge Advisors LLC increased its holdings in Geo Group by 81.9% during the 1st 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. Covestor Ltd raised its position in 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 purchasing an additional 438 shares during the last quarter. Militia Capital Partners LP purchased a new stake in Geo Group in the 1st quarter worth approximately $91,000. Finally, Alamea Verwaltungs GmbH purchased a new stake in Geo Group in the 1st quarter worth approximately $203,000. Hedge funds and other institutional investors own 76.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on GEO. Weiss Ratings reissued a “hold (c-)” rating on shares of Geo Group in a research note on Friday, October 31st. Wall Street Zen raised shares of Geo Group from a “hold” rating to a “buy” rating in a research report on Sunday. Jones Trading decreased their price objective on shares of Geo Group from $50.00 to $37.00 and set a “buy” rating for the company in a report on Friday, November 7th. Finally, Zacks Research cut shares of Geo Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Geo Group presently has an average rating of “Hold” and a consensus target price of $35.00.

Geo Group Price Performance

Shares of GEO stock opened at $15.24 on Friday. The business’s fifty day moving average is $18.62 and its 200 day moving average is $22.66. 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 stock has a market cap of $2.12 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 1.87 and a beta of 0.67. Geo Group Inc has a twelve month low of $14.27 and a twelve month high of $36.46.

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

Geo Group declared that its Board of Directors has authorized a share 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 buy up to 8.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Geo Group 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.