The GEO Group’s (GEO) “Outperform” Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of The GEO Group (NYSE:GEO) in a research report released on Thursday, Benzinga reports. Wedbush currently has a $17.00 target price on the real estate investment trust’s stock.

Separately, StockNews.com downgraded The GEO Group from a buy rating to a hold rating in a research report on Wednesday, August 7th.

The GEO Group Stock Down 0.2 %

GEO opened at $12.49 on Thursday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 1.45 and a beta of 0.66. The GEO Group has a one year low of $7.38 and a one year high of $18.05. The business’s fifty day moving average is $14.00 and its two-hundred day moving average is $13.98.

The GEO Group (NYSE:GEO) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The GEO Group had a net margin of 1.92% and a return on equity of 8.87%. The business had revenue of $607.19 million during the quarter, compared to analyst estimates of $606.16 million. During the same period in the previous year, the company posted $0.24 earnings per share. Analysts anticipate that The GEO Group will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman George C. Zoley bought 100,000 shares of The GEO Group stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $12.22 per share, for a total transaction of $1,222,000.00. Following the acquisition, the chairman now owns 3,800,904 shares in the company, valued at $46,447,046.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Shayn P. March sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $17.50, for a total transaction of $43,750.00. Following the sale, the executive vice president now owns 65,330 shares in the company, valued at $1,143,275. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman George C. Zoley purchased 100,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $12.22 per share, with a total value of $1,222,000.00. Following the completion of the acquisition, the chairman now directly owns 3,800,904 shares in the company, valued at approximately $46,447,046.88. The disclosure for this purchase can be found here. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The GEO Group

A number of hedge funds and other institutional investors have recently made changes to their positions in GEO. Gordian Capital Singapore Pte Ltd acquired a new stake in The GEO Group in the 2nd quarter worth about $2,104,000. Truist Financial Corp lifted its holdings in shares of The GEO Group by 128.0% during the 2nd quarter. Truist Financial Corp now owns 35,457 shares of the real estate investment trust’s stock worth $509,000 after acquiring an additional 19,903 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in shares of The GEO Group in the second quarter worth approximately $2,790,000. Algert Global LLC purchased a new stake in The GEO Group in the second quarter valued at approximately $184,000. Finally, The Manufacturers Life Insurance Company grew its holdings in The GEO Group by 18.0% in the second quarter. The Manufacturers Life Insurance Company now owns 70,702 shares of the real estate investment trust’s stock valued at $1,015,000 after purchasing an additional 10,792 shares during the period. Hedge funds and other institutional investors own 76.10% of the company’s stock.

The GEO Group Company Profile

The GEO Group, Inc (NYSE: GEO) engages in ownership, leasing, and management of secure facilities, processing centers, and community-based reentry facilities in the United States, Australia, the United Kingdom, and South Africa. The company also provides secure facility management services, including the provision of security, administrative, rehabilitation, education, and food services; reentry services, such as temporary housing, programming, employment assistance, and other services; electronic monitoring and supervision services; and transportation services; as well as designs, constructs, and finances new facilities through projects.