Allianz Asset Management GmbH Lowers Holdings in Geo Group Inc (The) $GEO

Allianz Asset Management GmbH cut its holdings in Geo Group Inc (The) (NYSE:GEO) by 12.5% during the second quarter, Holdings Channel reports. The firm owned 1,271,544 shares of the real estate investment trust’s stock after selling 182,155 shares during the quarter. Allianz Asset Management GmbH’s holdings in Geo Group were worth $30,453,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Sciencast Management LP purchased a new position in Geo Group in the 1st quarter worth approximately $489,000. Intech Investment Management LLC lifted its holdings in Geo Group by 53.9% in the 1st quarter. Intech Investment Management LLC now owns 127,483 shares of the real estate investment trust’s stock worth $3,724,000 after purchasing an additional 44,649 shares in the last quarter. Hodges Capital Management Inc. lifted its holdings in Geo Group by 61.6% in the 1st quarter. Hodges Capital Management Inc. now owns 283,614 shares of the real estate investment trust’s stock worth $8,284,000 after purchasing an additional 108,114 shares in the last quarter. Tectonic Advisors LLC purchased a new position in Geo Group in the 2nd quarter worth approximately $583,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Geo Group in the 1st quarter worth approximately $296,000. 76.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on GEO shares. Wall Street Zen raised Geo Group from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Jones Trading decreased their price objective on Geo Group from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Wedbush reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Geo Group in a report on Monday, June 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Geo Group in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Geo Group Stock Performance

NYSE:GEO opened at $17.00 on Friday. The stock’s fifty day moving average is $20.49 and its 200 day moving average is $24.45. Geo Group Inc has a fifty-two week low of $13.59 and a fifty-two week high of $36.46. The firm has a market capitalization of $2.41 billion, a PE ratio of 26.15, a PEG ratio of 1.91 and a beta of 0.75. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.90 and a current ratio of 0.90.

Geo Group (NYSE:GEO) last released its quarterly earnings results on Wednesday, September 28th. The real estate investment trust reported $0.41 earnings per share 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 for the quarter. Geo Group has set its FY22 guidance at $2.40-2.46 EPS. On average, sell-side analysts anticipate that Geo Group Inc will post 0.83 earnings per share for the current year.

Geo Group announced that its board has authorized a stock buyback plan on Wednesday, August 6th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 8.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

About Geo Group

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.