Daiwa Securities Group Inc. cut its stake in shares of The GEO Group Inc (NYSE:GEO) by 99.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 23,100 shares of the real estate investment trust’s stock after selling 2,795,736 shares during the period. Daiwa Securities Group Inc.’s holdings in The GEO Group were worth $581,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. UBS Group AG grew its position in shares of The GEO Group by 26.2% in the 1st quarter. UBS Group AG now owns 108,793 shares of the real estate investment trust’s stock worth $2,227,000 after buying an additional 22,591 shares during the last quarter. Principal Financial Group Inc. lifted its stake in The GEO Group by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 537,984 shares of the real estate investment trust’s stock valued at $11,013,000 after acquiring an additional 14,027 shares during the period. Nisa Investment Advisors LLC lifted its stake in The GEO Group by 2.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 72,495 shares of the real estate investment trust’s stock valued at $1,997,000 after acquiring an additional 2,000 shares during the period. Zeke Capital Advisors LLC acquired a new stake in The GEO Group during the 2nd quarter valued at approximately $210,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of The GEO Group in the 2nd quarter valued at $389,000. Institutional investors own 88.58% of the company’s stock.
Shares of GEO traded up $0.80 during mid-day trading on Thursday, hitting $23.41. 688,601 shares of the company’s stock were exchanged, compared to its average volume of 763,086. The stock has a market capitalization of $2.75 billion, a PE ratio of 9.18, a P/E/G ratio of 1.93 and a beta of 1.27. The GEO Group Inc has a fifty-two week low of $19.05 and a fifty-two week high of $28.06. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.85 and a current ratio of 0.85.
The GEO Group (NYSE:GEO) last announced its quarterly earnings results on Wednesday, November 7th. The real estate investment trust reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.19). The company had revenue of $583.53 million during the quarter, compared to analysts’ expectations of $588.32 million. The GEO Group had a net margin of 6.43% and a return on equity of 14.63%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, sell-side analysts predict that The GEO Group Inc will post 1.95 earnings per share for the current year.
A number of research firms have weighed in on GEO. ValuEngine upgraded shares of The GEO Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Wells Fargo & Co set a $25.00 target price on shares of The GEO Group and gave the stock a “hold” rating in a report on Wednesday, November 28th. Finally, Zacks Investment Research raised shares of The GEO Group from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Tuesday, November 13th.
In other news, CEO George C. Zoley purchased 120,240 shares of the business’s stock in a transaction dated Monday, November 12th. The stock was acquired at an average price of $22.45 per share, with a total value of $2,699,388.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO George C. Zoley purchased 50,000 shares of the business’s stock in a transaction dated Wednesday, November 21st. The shares were purchased at an average cost of $22.33 per share, with a total value of $1,116,500.00. Following the purchase, the chief executive officer now directly owns 1,750,000 shares in the company, valued at $39,077,500. The disclosure for this purchase can be found here. Company insiders own 36.50% of the company’s stock.
About The GEO Group
The GEO Group, Inc (NYSE: GEO) is the first fully integrated equity real estate investment trust ("REIT") specializing in the design, financing, development, and operation of correctional, detention, and community reentry facilities around the globe. GEO is the world's leading provider of diversified correctional, detention, community reentry, and electronic monitoring services to government agencies worldwide with operations in the United States, Australia, South Africa, and the United Kingdom.
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