Summary Since 2017, GEO shares have fallen sharply from $30 to ~$8.50 per share, at one point below even the book value of $8.19 per share. President Biden recently signed an executive order that banned the renewal of Department of Justice contracts with private prisons, but the effect on GEO is way way less than the market thinks. The border crisis renders ICE dependent on GEO for capacity, making it near impossible for ICE to cut ties in the near future. With a market cap of just $1.02 Billion, GEO has the potential to increase 2-3x in the next 6-12 months. cropped image of african american prisoner reading book LightFieldStudios/iStock via Getty Images Thesis GEO Group (GEO) is a deeply mispriced provider of privately-owned prisons, falling from a price of $30+ in early 2017 to the current price of $8.50 per share. GEO has fallen primarily as a result of concerns about legislation regarding private prisons, a canceled dividend, the likely shift away from a REIT structure, and high levels of debt. These overblown concerns have created a pretty solid structural opportunity. kmosby1992@gmail.com password kmosby1992@gmail.com Subscribe Company overview GEO operates in several segments, such as GEO care, International services, and U.S. Secure Services. Source: Annual report 1 - U.S. Secure Services U.S. Secure services account for the majority of their revenue, 67%, and includes their correctional facilities and processing centers. Secure services manage 74,000 beds across 58 facilities as of the 2020 annual report. GEO transport is included in U.S. secure services, but we felt it warranted its own paragraph. GEO transport provides secure transportation services to government agencies. With 400 customized, U.S. Department of Transportation compliant vehicles, GEO transport drove more than 14 million miles in 2020. 2 - GEO Care GEO care is a series of programs designed to reintegrate inmates and troubled youth into society. They operate through reentry centers, non-residential reentry programs, and youth treatment programs. GEO care operates approximately 4-dozen reentry centers, which provide housing, employment assistance, rehabilitation, substance abuse counseling, and vocational and education programs to current and former inmates. Through their reentry segment, they operate more than 70 non-residential reentry programs that provide behavioral assessments, treatment, supervision, and education. GEO care made up 23% of total 2020 revenue. Geo monitoring is included in GEO care. Through a wholly-owned subsidiary, BI Inc., GEO offers monitoring technology for parolees, probationers, pretrial defendants, and individuals involved in the immigration process. As of the 2020 annual report, BI helps monitor ~155,000 individuals across all 50 states. 3 - International operations International operations made up only 10% of revenue in 2020, but it is showing signs of growth. GEO recently landed a 10-year contract with the United kingdom, which they expect to total $760 million in revenue over the course of the contract. They also landed an 8-year contract with the Scottish Prison Service, which grants an annualized revenue of $39 million and has a 4-year renewal period. Why is GEO Mispriced? While there are several reasons for the dramatic reduction in share price over the last 4 years, the main reason was the looming fear of legislation destroying privately owned prisons. To a degree, this fear materialized on January 26th, 2021, when President Biden signed an Executive Order ordering the Attorney General not to renew any Department of Justice contracts with "privately operated criminal detention facilities." At face value, this order seems as though it would have a devastating impact on GEO. However, only ~25% of total revenue is impacted in any form by this order. The executive order only concerns branches of the Department of Justice. Only 2 DOJ branches have business connections with GEO, the US Marshals (USMS), and the Bureau of Prisons (BOP). Source: Annual report It is imperative to note that Immigration and Customs Enforcement (ICE), is not a branch of the DOJ and is therefore unaffected by this order. Individual states, as well as other countries, are unaffected by this order Bureau of Prisons GEO currently holds several agreements with the BOP relating to operations of prisons across the country. As of year-end 2020, agreements involving the BOP accounted for 14% of total revenue. All revenue from the BOP will not disappear, as the executive order does not impact reentry facilities. In 2Q21, after the executive order was made, GEO renewed 5 BOP reentry contracts. GEO even scored a new contract with the BOP, regarding the construction and operation of a new facility in Tampa. United States Marshal Service The United States Marshal Service does not own o... Visit https://dataone.org/datasets/sha256%3A900514e651e0d2c774ad90f358c9db90884c2baf98c068f470b290b3c4b3103a for complete metadata about this dataset.

IntroductionSexually transmitted infections (STIs) cause considerable morbidity worldwide and, depending on the specific pathogen, may lead to serious complications in the female reproductive tract. Incarcerated women are particularly vulnerable to health problems with a disproportionate high rate of STIs, including infections with human papillomavirus (HPV).MethodsHere, cervical swab samples collected from 299 women (18 to 64 years) living in one of the women’s prisons of São Paulo, Brazil were submitted for liquid-based cytology to determine the prevalence of precancerous lesions. Furthermore, direct detection of 30 genital HPV genotypes (18 high-risk and 12 low-risk types) and 11 additional STIs (Chlamydia trachomatis, Neisseria gonorrhoeae, Herpes simplex virus 1 and 2, Haemophilus ducreyi, Mycoplasma genitalium and hominis, Treponema pallidum, Trichomonas vaginalis, Ureaplasma parvum and urealyticum) were performed by molecular typing using two PCR-based DNA microarray systems, i.e., EUROArray HPV and EUROArray STI (EUROIMMUN), respectively.ResultsThe overall prevalence of cytological abnormalities was 5.8%, including five women with low-grade and five women with high-grade squamous intraepithelial lesions. The overall prevalence of HPV was 62.2, and 87.1% of the HPV-positive women were infected with oncogenic high-risk (HR) HPV types. HPV types 16 (24.1%), 33 and 52 (both 10.4%) were the most frequently detected. The prevalence of the other STIs was 72.8%. Up to four different pathogens were found in the infected women, the most frequent being Ureaplasma parvum (45.3%), Mycoplasma hominis (36.2%) and Trichomonas vaginalis (24.8%).ConclusionThe high number of HR-HPV infections and other STIs described here highlights the fact that the Brazilian female prison population requires more attention in the country’s health policies. The implementation of screening programs and treatment measures might contribute to a decrease in the incidence of STIs and cervical cancer in this vulnerable population. However, for such measures to be effective, further studies are needed to investigate the best practice to get more women to engage in in-prison prevention programs, e.g., through offering further sexual health education and self-sampling.