NJ State Employees Deferred Compensation Plan bought a new stake in Geo Group Inc (The) (NYSE:GEO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,000 shares of the real estate investment trust’s stock, valued at approximately $444,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of GEO. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in shares of Geo Group Inc (The) during the first quarter worth approximately $125,000. Meeder Asset Management Inc. bought a new position in shares of Geo Group Inc (The) during the first quarter worth approximately $196,000. KCG Holdings Inc. bought a new position in shares of Geo Group Inc (The) during the first quarter worth approximately $201,000. ARP Americas LLC bought a new position in shares of Geo Group Inc (The) during the first quarter worth approximately $209,000. Finally, Prospera Financial Services Inc bought a new position in shares of Geo Group Inc (The) during the first quarter worth approximately $223,000. Institutional investors and hedge funds own 66.89% of the company’s stock.
Geo Group Inc (GEO) traded down 0.55% during mid-day trading on Friday, reaching $25.16. The company had a trading volume of 733,219 shares. The firm has a market capitalization of $3.07 billion, a PE ratio of 17.64 and a beta of 1.54. Geo Group Inc has a 52 week low of $12.89 and a 52 week high of $34.32. The stock’s 50-day moving average price is $28.71 and its 200 day moving average price is $30.32.
Geo Group Inc (The) (NYSE:GEO) last announced its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.15. Geo Group Inc (The) had a net margin of 7.32% and a return on equity of 15.84%. The business had revenue of $570.10 million during the quarter, compared to analysts’ expectations of $584.69 million. During the same quarter in the prior year, the firm earned $0.21 EPS. Geo Group Inc (The)’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts predict that Geo Group Inc will post $1.27 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 21st were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 7.47%. The ex-dividend date was Wednesday, July 19th. Geo Group Inc (The)’s payout ratio is 131.16%.
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A number of research analysts have issued reports on the company. ValuEngine upgraded Geo Group Inc (The) from a “buy” rating to a “strong-buy” rating in a research note on Friday. Zacks Investment Research cut Geo Group Inc (The) from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. BidaskClub cut Geo Group Inc (The) from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Canaccord Genuity set a $35.00 price target on Geo Group Inc (The) and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, J P Morgan Chase & Co started coverage on Geo Group Inc (The) in a research note on Friday, July 14th. They issued an “overweight” rating and a $35.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $31.33.
In other Geo Group Inc (The) news, Director Norman A. Carlson sold 10,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $25.77, for a total value of $257,700.00. Following the completion of the transaction, the director now owns 39,779 shares in the company, valued at $1,025,104.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard H. Glanton sold 3,187 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $29.87, for a total transaction of $95,195.69. The disclosure for this sale can be found here. In the last three months, insiders sold 54,006 shares of company stock worth $1,586,888. 2.40% of the stock is owned by corporate insiders.
Geo Group Inc (The) Company Profile
The GEO Group, Inc is a real estate investment trust (REIT) specializing in the ownership, leasing and management of correctional, detention and re-entry facilities and the provision of community-based services and youth services in the United States, Australia, South Africa, the United Kingdom and Canada.
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