There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on November 11, GEO Group, Inc.'s CEO, George C Zoley, invested $38,227.64 into 2,200 shares of GEO, for a cost per share of $17.38. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Tuesday, bargain hunters could buy shares of GEO Group, Inc. (NYSE:GEO) and achieve a cost basis 5.2% cheaper than Zoley, with shares changing hands as low as $16.47 per share. GEO Group, Inc. shares are currently trading up about 1.7% on the day. The chart below shows the one year performance of GEO shares, versus its 200 day moving average:
Looking at the chart above, GEO's low point in its 52 week range is $16.40 per share, with $26.95 as the 52 week high point — that compares with a last trade of $16.84. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
GEO operates in the Business Services & Equipment sector, among companies like Priceline.com, Inc. (NASDAQ:PCLN) which is up about 0.9% today, and MasterCard Inc (NYSE:MA) trading up by about 1.2%. Below is a three month price history chart comparing the stock performance of GEO, versus PCLN and MA.
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