Tag: Business

Release – Kelly Announces Strategic Restructuring Actions to Accelerate Profitable Growth

Posted on by [email protected]

Research News and Market Data on KELYA

July 20, 2023

  • Strategic restructuring follows comprehensive review of company’s growth and efficiency objectives as part of ongoing transformation
  • Aggressive action builds on strategic progress to monetize non-core assets, reinvest capital in organic and inorganic growth initiatives, and shift to higher-margin, higher-growth business mix
  • Actions expected to result in meaningful, sustainable EBITDA margin expansion beginning immediately, and substantial improvement in the second half of 2023 and beyond

TROY, Mich., July 20, 2023 /PRNewswire/ — Kelly (Nasdaq: KELYA, KELYB), a leading global specialty talent solutions provider, today announced strategic restructuring actions that will further optimize the company’s operating model to enhance organizational efficiency and effectiveness. These actions are part of the comprehensive transformation initiative the company announced in May to drive EBITDA margin improvement and accelerate long-term profitable growth.

The strategic restructuring actions realign business-critical resources to Kelly’s business units, streamline corporate resources, reduce redundant organizational layers, and optimize work processes. These structural changes simplify the company’s operations and unlock additional resources to invest in growth. As a result of these actions, the company has implemented a workforce reduction plan and notified affected employees in accordance with applicable employment laws and regulations. Employees whose roles were included in the workforce reduction are eligible for applicable severance, benefits, and outplacement services.

“Today marks a difficult but necessary step forward on Kelly’s journey to accelerate profitable growth,” said Peter Quigley, president and chief executive officer. “These actions follow an exhaustive review of the company’s business and functional operations to determine how we can work more efficiently to improve profitability over the long term. I am confident the structural improvements we have made to Kelly’s operating model position the company to pursue new avenues of growth that will enable it to deliver greater value for customers, talent, and shareholders.”

As a result of the strategic restructuring actions, Kelly expects to see meaningful expansion of its EBITDA margin beginning immediately with substantial improvement in the second half of 2023 and beyond. The company expects to incur a restructuring charge from these actions in the range of $7.5-$8.5 million in the third quarter of 2023. Mr. Quigley and Olivier Thirot, executive vice president and chief financial officer, will provide additional details about the strategic restructuring as it relates to the company’s ongoing transformation, including expectations for EBITDA margin improvement, during its upcoming second-quarter earnings conference call on August 10, 2023.

About Kelly®

Kelly Services, Inc. (Nasdaq: KELYA, KELYB) helps companies recruit and manage skilled workers and helps job seekers find great work. Since inventing the staffing industry in 1946, we have become experts in the many industries and local and global markets we serve. With a network of suppliers and partners around the world, we connect more than 450,000 people with work every year. Our suite of outsourcing and consulting services ensures companies have the people they need, when and where they are needed most. Headquartered in Troy, Michigan, we empower businesses and individuals to access limitless opportunities in industries such as science, engineering, technology, education, manufacturing, retail, finance, and energy. Revenue in 2022 was $5.0 billion. Learn more at kellyservices.com.

Forward-Looking Statements

This release contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Kelly’s financial expectations, are forward-looking statements. Factors that could cause actual results to differ materially from those contained in this release include, but are not limited to, (i) changing market and economic conditions, (ii) disruption in the labor market and weakened demand for human capital resulting from technological advances, loss of large corporate customers and government contractor requirements, (iii) the impact of laws and regulations (including federal, state and international tax laws), (iv) unexpected changes in claim trends on workers’ compensation, unemployment, disability and medical benefit plans, (v) litigation and other legal liabilities (including tax liabilities) in excess of our estimates, (vi) our ability to achieve our business’s anticipated growth strategies, (vi) our future business development, results of operations and financial condition, (vii) damage to our brands, (viii) dependency on third parties for the execution of critical functions, (ix) conducting business in foreign countries, including foreign currency fluctuations, (x) availability of temporary workers with appropriate skills required by customers, (xi) cyberattacks or other breaches of network or information technology security, and (xii) other risks, uncertainties and factors discussed in this release and in the Company’s filings with the Securities and Exchange Commission. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. All information provided in this press release is as of the date of this press release and we undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations.

KLYA-FIN

MEDIA CONTACT:ANALYST CONTACT:
Jane StehneyJames Polehna
(248) 765-6864(248) 244-4586
[email protected][email protected]

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SOURCE Kelly Services, Inc.

CoreCivic, Inc. (CXW) – Loss of a Managed Contract

Posted on by [email protected]


Wednesday, April 26, 2023

CoreCivic is a diversified, government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through high-quality corrections and detention management, a network of residential and non-residential alternatives to incarceration to help address America’s recidivism crisis, and government real estate solutions. We are the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believe we are the largest private owner of real estate used by government agencies in the United States. We have been a flexible and dependable partner for government for nearly 40 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. Learn more at www.corecivic.com.

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Contract Loss. Yesterday, CoreCivic announced the State of Oklahoma will not renew the lease agreement for the company-owned, 2,400-bed North Fork Correctional Facility (NFCF) upon the lease expiration on June 30, 2023. According to the release, the State was facing staffing challenges at the NFCF that limited the facility’s utilization and were exacerbated by the difficult employment market since the beginning of the COVID-19 pandemic. The lease generated $12.2 million of revenue in 2022.

Competitive Pressure. CoreCivic also noted that since commencing the lease of the NFCF in 2016, other privately owned correctional capacity became available to the state of Oklahoma and impacted the competitive landscape for renewal of the Company’s lease agreement. We would note The GEO Group just announced a new lease contract with Oklahoma for its previously idle Great Plains facility. Great Plains is about 50 miles from Oklahoma City compared to about 130 miles for NFCF, which may make staffing less of an issue.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Kelly Services (KELYA) – Move into Automated Solutions

Posted on by [email protected]


Wednesday, April 05, 2023

Kelly (Nasdaq: KELYA, KELYB) connects talented people to companies in need of their skills in areas including Science, Engineering, Education, Office, Contact Center, Light Industrial, and more. We’re always thinking about what’s next in the evolving world of work, and we help people ditch the script on old ways of thinking and embrace the value of all workstyles in the workplace. We directly employ nearly 350,000 people around the world and connect thousands more with work through our global network of talent suppliers and partners in our outsourcing and consulting practice. Revenue in 2021 was $4.9 billion. Visit kellyservices.com and let us help with what’s next for you.

Joe Gomes, Managing Director – Generalist Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Expanded Product Offering. Yesterday, Kelly became the first staffing provider to deploy digital workers in addition to human workers. The Company announced the launch of Kelly Fusion Digital Workers, the first product in the Kelly Fusion suite of solutions that automate routine tasks and allow employees to focus on more meaningful work. Offered as a managed service solution, Kelly Fusion is expected to generate incrementally higher gross profit rates than the traditional staffing services business. Notably, Kelly already has already secured its first client win.

Kelly Fusion. Kelly Fusion Digital Workers are powered by the latest automation software and custom-built for Kelly clients to complete repetitive tasks. They can reliably manage data entry tasks and new-hire processes such as background screenings and onboarding procedures. Kelly Fusion Digital Workers ensure work is completed efficiently, increase compliance, reduce risk, save money, eliminate mundane work, and improve the overall employee experience.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

The GEO Group (GEO) – NYC NDRS

Posted on by [email protected]


Friday, March 17, 2023

The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 103 facilities totaling approximately 83,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees.

Joe Gomes, Managing Director – Generalist Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

NYC NDRS. On Tuesday, we hosted GEO CEO Jose Gordo and CFO Brian Evans for a series of investor meetings in New York City. Questions at the well attended meetings focused on the Intensive Supervision Appearance Program (ISAP) and the core ICE detention numbers.

ISAP. Yes, overall numbers for the program are down from the December highs but GEO’s guidance takes the trends into account and even at the low end of guidance, the Company will generate the second best ever annual adjusted EBITDA number. While the number of enrollees in the SmartLink program has declined 12.5% from the year-end program highs, as a percentage of the overall ISAP enrollees, the SmartLink program now represents 88.4%, up from 78.7% at year-end.


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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

The GEO Group (GEO) – Tracking Gets Easier

Posted on by [email protected]


Thursday, March 09, 2023

The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 103 facilities totaling approximately 83,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees.

Joe Gomes, Managing Director – Generalist Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

New Tracking Device. Yesterday, a new five-year contract was awarded by Santa Clara County, CA to GEO’s subsidiary BI Inc. regarding the Company’s wrist-worn GPS tracking device, VeriWatch. It represents the first ever community corrections contract for the device. No financial details were given for the contract. We believe the contract presents a new opportunity for GEO, and we expect more attention towards the device as the year progresses. 

ATD Program. As we have noted, populations under the ATD program dropped in January to 324,554 at the end of the month from 376,031 at the start of the year. Uncertainty surrounding ATD populations drove the wide range of 2023 operating guidance from GEO’s management. Over the course of February, the decline slowed noticeably with populations at 293,167 as of February 25th, the latest data available.


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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Kelly Services (KELYA) – Fourth Quarter and Full Year Results for 2022

Posted on by [email protected]


Wednesday, February 22, 2023

Kelly (Nasdaq: KELYA, KELYB) connects talented people to companies in need of their skills in areas including Science, Engineering, Education, Office, Contact Center, Light Industrial, and more. We’re always thinking about what’s next in the evolving world of work, and we help people ditch the script on old ways of thinking and embrace the value of all workstyles in the workplace. We directly employ nearly 350,000 people around the world and connect thousands more with work through our global network of talent suppliers and partners in our outsourcing and consulting practice. Revenue in 2021 was $4.9 billion. Visit kellyservices.com and let us help with what’s next for you.

Joe Gomes, Managing Director – Generalist Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

4Q22. Revenue of $1.23 billion was down 1.3% year-over-year (up 0.7% in constant currency). We were at $1.25 billion. Kelly took a $10.3 million asset impairment charge related to its RocketPower acquisition during the quarter. As a result, GAAP EPS loss was $0.02 compared to EPS of $1.80 in 4Q21. Adjusted EPS for the fourth quarter was $0.18 versus $0.65 last year. We had projected adjusted EPS of $0.29.

Quarterly Drivers. Kelly saw top line growth in its SET, Education, and OCG business, and International, if we exclude the sold Russian operations from the y-o-y comparison. Once again, the gross profit rate improved in all five business units, a testament to Kelly’s specialty talent focus.


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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

The GEO Group (GEO) – Better Than Expected 4Q22 But What About 2023?

Posted on by [email protected]


Friday, February 17, 2023

The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 103 facilities totaling approximately 83,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees.

Joe Gomes, Managing Director – Generalist Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

4Q22 Results. The run of exceeding expectations continued in the fourth quarter. Revenue for the quarter came in at $620.7 million, up from $557.5 million a year ago. Adjusted EBITDA totaled $145.5 million, AFFO was $0.58 per diluted share, EPS was $0.28, and adjusted net income $0.34 per share. In the year ago period, GEO reported $124.1 million, $0.66, $(0.41), and $0.38, respectively. We had forecast $603 million, $133.5 million, $0.54, $0.25, and $0.23, respectively. GEO’s results highlight the resiliency of the business model, in our opinion.

Electronic Monitoring Driving 4Q Results. GEO’s electronic monitoring segment saw revenue jump 89.3% to $149.8 million in the quarter, with segment operating income rising 89.6% to $85.7 million. While electronic monitoring populations have declined since the turn of the year, we believe electronic monitoring will remain a key arrow in government’s quiver to manage undocumented populations given the success of these programs.  


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Tokens.com Corp. (SMURF) – Riding It Out

Posted on by [email protected]


Thursday, February 16, 2023

Tokens.com Corp is a publicly traded company that invests in Web3 assets and businesses focused on the Metaverse, NFTs, DeFi, and gaming based digital assets. Tokens.com is the majority owner of Metaverse Group, one of the world’s first virtual real estate companies. Hulk Labs, a wholly-owned Tokens.com subsidiary, focuses on investing in play-to-earn revenue generating gaming tokens and NFTs. Additionally, Tokens.com owns and stakes crypto assets to earn additional tokens. Through its growing digital assets and NFTs, Tokens.com provides public market investors with a simple and secure way to gain exposure to Web3.

Joe Gomes, Managing Director – Generalist Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

First Quarter Results. Total revenue for the quarter was at $151,848, an increase from the prior quarter of $101,235. We will be comparing quarters as Tokens.com has two new revenue streams, leasing and gaming revenue, which both did not occur last year. We estimated revenue at $105,000. Operating loss for Tokens.com was $566,525 versus $879,430 last quarter, and net loss was at $1.7 million, or EPS loss of $0.02, versus the prior quarter loss of $1.8 million, or a $0.02/sh loss.

Market Appreciation. The overall cryptocurrency market has seen an increase in total market cap over the last three months, as total market cap has risen to $1.05 trillion from $843.3 billion on November 15, 2022. This is an increase of $206.1 billion or 24.4%. If sustained, the rebound in the cryptocurrency market will be a positive for Tokens.com, in our view.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

CoreCivic, Inc. (CXW) – Post Call Commentary

Posted on by [email protected]


Monday, February 13, 2023

CoreCivic is a diversified, government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through high-quality corrections and detention management, a network of residential and non-residential alternatives to incarceration to help address America’s recidivism crisis, and government real estate solutions. We are the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believe we are the largest private owner of real estate used by government agencies in the United States. We have been a flexible and dependable partner for government for nearly 40 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. Learn more at www.corecivic.com.

Joe Gomes, Managing Director – Generalist Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Prepping For an End to Title 42. Once again, during the quarter CoreCivic continued to hire staff in anticipation of an ending of Title 42 and a surge in ICE populations. The additional expense impacted margins. Management did note that without the extra expense, guidance for 2023 would have been in the ballpark of consensus estimates for the year.

Potential New Business? Management again noted increasing interest from various states, both current clients and potential new clients, for solutions as these parties deal with a very tight labor market. With excess bed capacity available and the staff hired, CoreCivic is well positioned to pick up additional business, in our view.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

CoreCivic, Inc. (CXW) – Fourth Quarter and Full Year 2022 First Look

Posted on by [email protected]


Thursday, February 09, 2023

CoreCivic is a diversified, government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through high-quality corrections and detention management, a network of residential and non-residential alternatives to incarceration to help address America’s recidivism crisis, and government real estate solutions. We are the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believe we are the largest private owner of real estate used by government agencies in the United States. We have been a flexible and dependable partner for government for nearly 40 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. Learn more at www.corecivic.com.

Joe Gomes, Managing Director – Generalist Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Solid 4Q22 Operating Results. CoreCivic beat expectations for 4Q22. Reported revenue was $471.4 million, compared to $472.1 million in the year ago period and our estimate of $465 million. Reported net income was $24.4 million, or $0.21 per diluted share, compared to $28 million, or $0.23 per share, last year. We had forecast net income of $14.5 million, or $0.13 per share. Adjusted EBITDA for the quarter was $87.7 million, compared to our $73.1 million estimate, and $103.2 million in 4Q21.

La Palma Normalizing, but Labor Remains a Challenge. CoreCivic substantially completed the transition of inmate populations at La Palma during the quarter, a positive. However, staffing remains a challenge, with temporary incentives, above average wage pressure, and travel costs, all impacting margin, which we anticipate will continue through at least the first quarter of 2023.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Tokens.com Corp. (SMURF) – Touched by Genesis

Posted on by [email protected]


Tuesday, January 24, 2023

Tokens.com Corp is a publicly traded company that invests in Web3 assets and businesses focused on the Metaverse, NFTs, DeFi, and gaming based digital assets. Tokens.com is the majority owner of Metaverse Group, one of the world’s first virtual real estate companies. Hulk Labs, a wholly-owned Tokens.com subsidiary, focuses on investing in play-to-earn revenue generating gaming tokens and NFTs. Additionally, Tokens.com owns and stakes crypto assets to earn additional tokens. Through its growing digital assets and NFTs, Tokens.com provides public market investors with a simple and secure way to gain exposure to Web3.

Joe Gomes, Managing Director – Generalist Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Genesis Global. In a recurring theme in the crypto space lately, last week Genesis Global Holdco LLC, the holding company of troubled cryptocurrency lender Genesis Global Capital, filed for Chapter 11 bankruptcy protection. Notably, in its filing, Genesis Global Capital said it expects that through the restructuring process, there will be money left over to pay unsecured creditors.

Tokens.com Impact. Tokens.com has an open loan facility with Genesis, for which the Company is required to post collateral in token assets. Based on the closing price on January 19, 2023, this collateral was worth US$749,000. Tokens.com has a loan outstanding against this collateral of US$138,000. The difference between the collateral and the loan value represents approximately 3.1% of Tokens.com’s total assets of US$20.0 million as at September 30, 2022. Tokens.com has requested to have its collateral returned and repay the loan outstanding in full.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

The GEO Group (GEO) – Expanding Health Services in Australia

Posted on by [email protected]


Wednesday, January 11, 2023

The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 103 facilities totaling approximately 83,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

New Contract. The GEO Group was awarded a contract from the Department of Justice and Community Safety in the State of Victoria for the delivery of primary health services across 13 public prisons. The contract will commence on July 1, 2023 and is expected to generate approximately $33 million in incremental annualized revenue for GEO. We view the new contract as a nice compliment to the existing operations.

A New (Old) Business. This is a return of GEO to a business previously conducted by the Company. The Company held this contract before being forced to spin off the unit once becoming a REIT. GEO already provides these services in the facilities it manages and the new contract is just an expansion to other non-managed facilities. There should not be any “learning curve,” in our view.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Tokens.com Corp. (SMURF) – An Acquisition for the New Year

Posted on by [email protected]


Wednesday, January 04, 2023

Tokens.com Corp is a publicly traded company that invests in Web3 assets and businesses focused on the Metaverse, NFTs, DeFi, and gaming based digital assets. Tokens.com is the majority owner of Metaverse Group, one of the world’s first virtual real estate companies. Hulk Labs, a wholly-owned Tokens.com subsidiary, focuses on investing in play-to-earn revenue generating gaming tokens and NFTs. Additionally, Tokens.com owns and stakes crypto assets to earn additional tokens. Through its growing digital assets and NFTs, Tokens.com provides public market investors with a simple and secure way to gain exposure to Web3.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

A New Acquisition. Yesterday, Tokens.com’s subsidiary Metaverse Group announced the acquisition of CocoNFT. As part of the acquisition, Coco’s co-founders Mark Allen and Brody Berson will be joining the Metaverse Group as Chief Technology Officer and Chief Product Officer respectively and will be focused with building further tools and products for both NFT and virtual world applications. No financial details were given for the transaction. 

Detail on CocoNFT. CocoNFT is a software platform that allows users to connect their Instagram to mint NFTs, leveraging the blockchain and a web3 wallet. In acquiring the company, Metaverse Group will work to advance Coco’s technology offering and integrate the products with its virtual world B2B offerings. The acquisition will leverage Coco’s strategic partnerships in Opensea and Rarible and online communities with over 45,000 followers across TikTok and Twitter.


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