MYDA Advisors LLC Acquires Shares of 150,000 Geo Group Inc (The) $GEO

MYDA Advisors LLC purchased a new position in Geo Group Inc (The) (NYSE:GEO) during the first quarter, HoldingsChannel reports. The fund purchased 150,000 shares of the real estate investment trust’s stock, valued at approximately $4,382,000. Geo Group comprises 0.8% of MYDA Advisors LLC’s portfolio, making the stock its 22nd biggest holding.

Several other hedge funds also recently bought and sold shares of GEO. Mariner LLC purchased a new position in Geo Group during the fourth quarter worth about $208,000. NewEdge Advisors LLC purchased a new position in Geo Group in the fourth quarter valued at approximately $29,000. State of Tennessee Department of Treasury lifted its position in Geo Group by 77.6% during the fourth quarter. State of Tennessee Department of Treasury now owns 56,794 shares of the real estate investment trust’s stock valued at $1,589,000 after buying an additional 24,824 shares in the last quarter. Northern Trust Corp lifted its position in Geo Group by 12.6% during the fourth quarter. Northern Trust Corp now owns 1,522,360 shares of the real estate investment trust’s stock valued at $42,596,000 after buying an additional 170,248 shares in the last quarter. Finally, Appian Way Asset Management LP acquired a new stake in shares of Geo Group in the fourth quarter worth $14,041,000. Hedge funds and other institutional investors own 76.10% of the company’s stock.

Wall Street Analysts Forecast Growth

GEO has been the subject of a number of research reports. Wall Street Zen raised shares of Geo Group from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Jones Trading reduced their price objective on Geo Group from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $36.00 target price on shares of Geo Group in a research note on Monday, June 23rd. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $37.00.

Geo Group Trading Up 0.6%

Shares of NYSE GEO opened at $20.83 on Thursday. Geo Group Inc has a 12-month low of $11.75 and a 12-month high of $36.46. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.07. The stock’s 50 day simple moving average is $23.73 and its 200 day simple moving average is $26.20. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 32.05, a price-to-earnings-growth ratio of 2.25 and a beta of 0.75.

Geo Group (NYSE:GEO) last released its quarterly earnings data 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. The business had revenue of $636.17 million for the quarter, compared to analysts’ expectations of $621.55 million. Geo Group had a net margin of 3.69% and a return on equity of 7.26%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 EPS. Equities research analysts expect that Geo Group Inc will post 0.83 EPS for the current year.

Geo Group announced that its board has approved a share repurchase program on Wednesday, August 6th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to purchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors 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.