Eagle Asset Management Inc. decreased its stake in The GEO Group Inc (NYSE:GEO) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,234,288 shares of the real estate investment trust’s stock after selling 53,896 shares during the period. Eagle Asset Management Inc. owned approximately 1.00% of The GEO Group worth $33,992,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Zeke Capital Advisors LLC acquired a new position in shares of The GEO Group in the second quarter worth about $210,000. New Jersey Better Educational Savings Trust acquired a new position in shares of The GEO Group in the second quarter worth about $330,000. Verition Fund Management LLC lifted its stake in shares of The GEO Group by 27.8% in the first quarter. Verition Fund Management LLC now owns 12,324 shares of the real estate investment trust’s stock worth $252,000 after acquiring an additional 2,684 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of The GEO Group in the second quarter worth about $389,000. Finally, Stevens Capital Management LP acquired a new position in shares of The GEO Group in the first quarter worth about $307,000. 91.30% of the stock is owned by institutional investors.
In other The GEO Group news, Director Richard H. Glanton sold 1,700 shares of the company’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $24.68, for a total transaction of $41,956.00. Following the sale, the director now owns 5,352 shares in the company, valued at $132,087.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Shayn P. March sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $25.13, for a total value of $75,390.00. Following the sale, the vice president now owns 30,498 shares in the company, valued at approximately $766,414.74. The disclosure for this sale can be found here. Insiders have sold 14,700 shares of company stock worth $368,146 in the last 90 days. 2.20% of the stock is currently owned by insiders.
Several research analysts recently commented on GEO shares. Zacks Investment Research upgraded The GEO Group from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Monday, July 23rd. ValuEngine cut The GEO Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd.
NYSE:GEO opened at $25.37 on Friday. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.46 and a current ratio of 1.46. The GEO Group Inc has a one year low of $19.05 and a one year high of $28.06. The stock has a market capitalization of $3.07 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 2.17 and a beta of 1.28.
The GEO Group (NYSE:GEO) last released its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.15). The GEO Group had a return on equity of 13.90% and a net margin of 6.45%. The business had revenue of $583.51 million during the quarter, compared to analyst estimates of $573.70 million. During the same quarter last year, the firm posted $0.61 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. equities research analysts predict that The GEO Group Inc will post 1.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 27th. Shareholders of record on Friday, July 20th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 7.41%. The ex-dividend date was Thursday, July 19th. The GEO Group’s payout ratio is currently 73.73%.
The GEO Group Profile
The GEO Group, Inc (NYSE: GEO) is the first fully integrated equity real estate investment trust 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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