Nisa Investment Advisors LLC Sells 589,918 Shares of The GEO Group, Inc. (NYSE:GEO)

Nisa Investment Advisors LLC lowered its stake in The GEO Group, Inc. (NYSE:GEO) by 56.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 447,963 shares of the real estate investment trust’s stock after selling 589,918 shares during the period. Nisa Investment Advisors LLC’s holdings in The GEO Group were worth $5,756,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Center Lake Capital Management LLC raised its holdings in The GEO Group by 500.0% in the 1st quarter. Center Lake Capital Management LLC now owns 600,000 shares of the real estate investment trust’s stock worth $8,472,000 after purchasing an additional 500,000 shares in the last quarter. Beaconlight Capital LLC bought a new position in The GEO Group in the 1st quarter worth $5,754,000. Great Lakes Advisors LLC raised its holdings in The GEO Group by 1,803.4% in the 2nd quarter. Great Lakes Advisors LLC now owns 312,508 shares of the real estate investment trust’s stock worth $4,488,000 after purchasing an additional 296,090 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in The GEO Group in the 2nd quarter worth $3,906,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in The GEO Group in the 2nd quarter worth $2,790,000. 76.10% of the stock is owned by hedge funds and other institutional investors.

The GEO Group Stock Performance

Shares of GEO opened at $15.19 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.36. The business’s 50 day moving average price is $13.80 and its 200-day moving average price is $14.06. The GEO Group, Inc. has a 52 week low of $8.33 and a 52 week high of $18.05. The stock has a market cap of $2.12 billion, a P/E ratio of 58.42, a P/E/G ratio of 1.68 and a beta of 0.65.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. StockNews.com cut The GEO Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Wedbush reaffirmed an “outperform” rating and issued a $17.00 price target on shares of The GEO Group in a research note on Thursday, September 19th.

Insider Buying and Selling

In other The GEO Group news, Chairman George C. Zoley bought 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $12.33 per share, for a total transaction of $1,233,000.00. Following the completion of the transaction, the chairman now owns 3,900,904 shares of the company’s stock, valued at $48,098,146.32. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.00% of the stock is owned by corporate insiders.

About The GEO Group

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.