Garnet Equity Capital Holdings Inc. Purchases New Shares in Geo Group Inc (The) $GEO

Garnet Equity Capital Holdings Inc. acquired a new stake in shares of Geo Group Inc (The) (NYSE:GEO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,000 shares of the real estate investment trust’s stock, valued at approximately $479,000. Geo Group makes up about 0.1% of Garnet Equity Capital Holdings Inc.’s investment portfolio, making the stock its 21st biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of GEO. Covestor Ltd lifted its position in shares of 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 purchasing an additional 438 shares during the last quarter. Envestnet Asset Management Inc. lifted 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 worth $432,000 after buying an additional 441 shares during the last quarter. RoundAngle Advisors LLC boosted its holdings in shares of Geo Group by 1.5% in the 2nd quarter. RoundAngle Advisors LLC now owns 35,120 shares of the real estate investment trust’s stock valued at $841,000 after buying an additional 509 shares during the period. Hsbc Holdings PLC grew its position 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 valued at $560,000 after buying an additional 520 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised 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 purchasing an additional 600 shares during the period. Institutional investors own 76.10% of the company’s stock.

Geo Group Stock Up 0.1%

GEO stock opened at $14.94 on Thursday. 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 current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $2.08 billion, a P/E ratio of 22.99, a P/E/G ratio of 1.87 and a beta of 0.67. The company’s 50 day simple moving average is $18.86 and its 200-day simple moving average is $22.88.

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

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GEO. Jones Trading dropped their target price on Geo Group from $50.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Zacks Research cut shares of Geo Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Wall Street Zen lowered shares of Geo Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Geo Group in a report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.