The Manufacturers Life Insurance Company Makes New $1.89 Million Investment in Geo Group Inc (The) $GEO

The Manufacturers Life Insurance Company purchased a new position in shares of Geo Group Inc (The) (NYSE:GEO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 64,050 shares of the real estate investment trust’s stock, valued at approximately $1,893,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Geo Group in the second quarter valued at approximately $570,744,000. Rubric Capital Management LP lifted its holdings in Geo Group by 139.5% in the third quarter. Rubric Capital Management LP now owns 2,986,915 shares of the real estate investment trust’s stock valued at $61,202,000 after acquiring an additional 1,739,522 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Geo Group during the 2nd quarter worth $47,605,000. UBS Group AG grew its stake in shares of Geo Group by 56.5% during the 3rd quarter. UBS Group AG now owns 3,603,288 shares of the real estate investment trust’s stock worth $73,831,000 after purchasing an additional 1,300,139 shares during the period. Finally, Cooper Creek Partners Management LLC grew its stake in shares of Geo Group by 32.7% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 4,974,772 shares of the real estate investment trust’s stock worth $101,933,000 after purchasing an additional 1,224,847 shares during the period. Institutional investors and hedge funds own 76.10% of the company’s stock.

Insider Transactions at Geo Group

In other Geo Group news, VP Matthew Albence sold 10,000 shares of Geo Group stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $31.69, for a total value of $316,900.00. Following the completion of the sale, the vice president owned 99,399 shares in the company, valued at $3,149,954.31. The trade was a 9.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ronald A. Brack sold 7,000 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $32.00, for a total transaction of $224,000.00. Following the transaction, the insider directly owned 71,614 shares of the company’s stock, valued at approximately $2,291,648. This represents a 8.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on GEO. Zacks Research raised shares of Geo Group from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. UBS Group reaffirmed an “outperform” rating on shares of Geo Group in a research note on Monday, August 10th. Weiss Ratings upgraded Geo Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 9th. Noble Financial reaffirmed an “outperform” rating on shares of Geo Group in a research note on Monday, August 10th. Finally, JonesTrading raised their target price on shares of Geo Group from $33.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $40.00.

Geo Group Stock Performance

NYSE:GEO opened at $30.93 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.65 and a quick ratio of 1.65. The firm has a market cap of $4.07 billion, a PE ratio of 14.59, a P/E/G ratio of 1.67 and a beta of 0.78. The firm has a 50 day simple moving average of $30.79 and a 200-day simple moving average of $23.78. Geo Group Inc has a 1-year low of $12.51 and a 1-year high of $33.15.

Geo Group (NYSE:GEO) last released its earnings results on Thursday, August 6th. The real estate investment trust reported $0.37 EPS for the quarter, topping the consensus estimate of $0.29 by $0.08. Geo Group had a net margin of 10.31% and a return on equity of 10.42%. The firm had revenue of $732.07 million during the quarter, compared to analysts’ expectations of $721.43 million. During the same period in the previous year, the company earned $0.22 EPS. Geo Group’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, equities analysts expect that Geo Group Inc will post 1.31 EPS for the current year.

Geo Group Profile

The GEO Group (NYSE:GEO) is a leading provider of correctional, detention and community reentry services to government agencies around the world. As a real estate investment trust, the company specializes in the design, financing, development and operation of secure facilities for adult and juvenile offenders, immigration detainees and individuals requiring mental health treatment or substance abuse programming. GEO’s integrated service model also encompasses electronic monitoring, rehabilitative programming and post-release supervision aimed at reducing recidivism and enhancing public safety.

GEO’s portfolio spans a range of facility types, including medium- and maximum-security correctional institutions, residential reentry centers, mental health treatment units and immigration detention centers.