Geode Capital Management LLC Has $78.08 Million Stock Position in Geo Group Inc (The) $GEO

Geode Capital Management LLC boosted its stake in Geo Group Inc (The) (NYSE:GEO) by 3.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,259,307 shares of the real estate investment trust’s stock after purchasing an additional 108,106 shares during the quarter. Geode Capital Management LLC’s holdings in Geo Group were worth $78,076,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd grew its stake in Geo Group by 19.8% during the first quarter. Covestor Ltd now owns 2,653 shares of the real estate investment trust’s stock worth $77,000 after buying an additional 438 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Geo Group by 2.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 18,056 shares of the real estate investment trust’s stock valued at $432,000 after buying an additional 441 shares in the last quarter. RoundAngle Advisors LLC lifted its holdings in shares of Geo Group by 1.5% during the 2nd quarter. RoundAngle Advisors LLC now owns 35,120 shares of the real estate investment trust’s stock worth $841,000 after acquiring an additional 509 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Geo Group by 2.8% during the 1st quarter. Hsbc Holdings PLC now owns 19,208 shares of the real estate investment trust’s stock worth $560,000 after acquiring an additional 520 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in shares of Geo Group by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 64,700 shares of the real estate investment trust’s stock worth $1,550,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 76.10% of the company’s stock.

Geo Group Stock Performance

Shares of Geo Group stock opened at $15.01 on Friday. The company’s 50 day moving average price is $17.93 and its two-hundred day moving average price is $22.09. The firm has a market capitalization of $2.09 billion, a P/E ratio of 23.09, a P/E/G ratio of 1.87 and a beta of 0.67. Geo Group Inc has a fifty-two week low of $14.27 and a fifty-two week high of $36.46. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.90 and a quick ratio of 0.90.

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

Geo Group announced that its board has authorized a stock buyback 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have commented on GEO shares. Weiss Ratings restated a “hold (c+)” rating on shares of Geo Group in a research report on Thursday. Jones Trading decreased their price target on Geo Group from $50.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Wall Street Zen raised Geo Group from a “hold” rating to a “buy” rating in a report on Sunday, November 16th. Finally, Zacks Research downgraded Geo Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Geo Group has a consensus rating of “Hold” and an average target price of $35.00.

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.