Hodges Capital Management Inc. Grows Position in Geo Group Inc (The) $GEO

Hodges Capital Management Inc. increased its position in Geo Group Inc (The) (NYSE:GEO) by 58.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 448,374 shares of the real estate investment trust’s stock after purchasing an additional 164,760 shares during the period. Geo Group accounts for 1.0% of Hodges Capital Management Inc.’s portfolio, making the stock its 28th biggest position. Hodges Capital Management Inc.’s holdings in Geo Group were worth $10,739,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GEO. Twin Tree Management LP bought a new stake in shares of Geo Group during the 1st quarter valued at $39,000. NewEdge Advisors LLC increased its stake in shares of Geo Group by 81.9% in the 1st quarter. NewEdge Advisors LLC now owns 1,864 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 839 shares in the last quarter. Covestor Ltd lifted 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 acquiring an additional 438 shares during the period. Militia Capital Partners LP bought a new stake in Geo Group during the first quarter worth about $91,000. Finally, Alamea Verwaltungs GmbH bought a new stake in Geo Group during the first quarter worth about $203,000. Institutional investors own 76.10% of the company’s stock.

Geo Group Trading Down 1.8%

Shares of NYSE GEO opened at $15.13 on Monday. The firm’s 50 day moving average price is $19.22 and its 200-day moving average price is $23.16. Geo Group Inc has a 52-week low of $14.27 and a 52-week high of $36.46. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $2.14 billion, a PE ratio of 23.27, a P/E/G ratio of 1.87 and a beta of 0.67.

Geo Group (NYSE:GEO) last announced its quarterly earnings results on Wednesday, September 28th. The real estate investment trust reported $0.41 earnings per share for the quarter. The company had revenue of $565.42 million during 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. On average, equities 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 initiated a share repurchase plan on Wednesday, August 6th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 8.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GEO. Wall Street Zen lowered shares of Geo Group from a “buy” rating to a “hold” rating in a report on Saturday. Jones Trading reduced their price objective on Geo Group from $50.00 to $37.00 and set a “buy” rating for the company in a research report on Friday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Geo Group in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.00.

Geo Group Company 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.