Truist Financial Corp decreased its holdings in The GEO Group, Inc. (NYSE:GEO – Free Report) by 14.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 88,906 shares of the real estate investment trust’s stock after selling 15,358 shares during the period. Truist Financial Corp owned approximately 0.07% of The GEO Group worth $701,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of GEO. Pinnacle Associates Ltd. acquired a new stake in The GEO Group in the first quarter valued at approximately $103,000. Barclays PLC grew its position in The GEO Group by 4.7% in the first quarter. Barclays PLC now owns 65,154 shares of the real estate investment trust’s stock valued at $513,000 after acquiring an additional 2,951 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in The GEO Group in the first quarter valued at approximately $106,000. Jump Financial LLC grew its position in The GEO Group by 7.0% in the first quarter. Jump Financial LLC now owns 100,082 shares of the real estate investment trust’s stock valued at $790,000 after acquiring an additional 6,507 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in The GEO Group by 36.4% in the first quarter. Pacer Advisors Inc. now owns 2,152,225 shares of the real estate investment trust’s stock valued at $16,981,000 after acquiring an additional 574,600 shares in the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.
The GEO Group Stock Down 1.7 %
Shares of NYSE:GEO opened at $7.12 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.50. The company has a fifty day simple moving average of $7.26 and a 200 day simple moving average of $7.97. The firm has a market cap of $897.83 million, a PE ratio of 7.66, a price-to-earnings-growth ratio of 0.81 and a beta of 0.71. The GEO Group, Inc. has a 12-month low of $6.97 and a 12-month high of $12.44.
The GEO Group (NYSE:GEO – Get Free Report) last issued its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $593.89 million during the quarter, compared to analyst estimates of $588.27 million. The GEO Group had a net margin of 5.63% and a return on equity of 11.65%. During the same quarter in the previous year, the firm earned $0.69 earnings per share. On average, equities research analysts anticipate that The GEO Group, Inc. will post 0.88 EPS for the current fiscal year.
Insider Buying and Selling at The GEO Group
In other The GEO Group news, Director Scott Michael Kernan sold 4,800 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $7.50, for a total transaction of $36,000.00. Following the completion of the sale, the director now owns 17,896 shares in the company, valued at $134,220. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.30% of the stock is owned by insiders.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. Wedbush increased their price objective on shares of The GEO Group from $11.00 to $12.50 and gave the company an “outperform” rating in a research report on Thursday, August 10th. StockNews.com started coverage on shares of The GEO Group in a research note on Thursday, August 17th. They issued a “hold” rating for the company.
Read Our Latest Research Report on GEO
About The GEO Group
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.
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