The GEO Group (NYSE:GEO) Trading 6.9% Higher – Here’s What Happened

The GEO Group, Inc. (NYSE:GEO)’s share price shot up 6.9% during mid-day trading on Tuesday . The company traded as high as $15.19 and last traded at $15.16. 790,386 shares were traded during trading, a decline of 67% from the average session volume of 2,431,646 shares. The stock had previously closed at $14.18.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of The GEO Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Wedbush reiterated an “outperform” rating and set a $17.00 target price on shares of The GEO Group in a research report on Thursday, September 19th.

The GEO Group Stock Up 42.1 %

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 firm has a fifty day moving average of $14.01 and a 200-day moving average of $14.09. The firm has a market cap of $3.00 billion, a P/E ratio of 82.69, a price-to-earnings-growth ratio of 1.56 and a beta of 0.63.

The GEO Group (NYSE:GEO) last issued its quarterly earnings data 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 company had revenue of $607.19 million for the quarter, compared to analyst estimates of $606.16 million. The GEO Group had a return on equity of 8.87% and a net margin of 1.92%. During the same quarter last year, the business earned $0.24 earnings per share. On average, equities research analysts anticipate that The GEO Group, Inc. will post 0.91 earnings per share for the current year.

Insider Activity at The GEO Group

In related news, Chairman George C. Zoley acquired 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $12.33 per share, with a total value of $1,233,000.00. Following the completion of the purchase, the chairman now directly owns 3,900,904 shares in the company, valued at $48,098,146.32. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 5.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The GEO Group

Large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC increased its stake in shares of The GEO Group by 131.8% in the second quarter. Nisa Investment Advisors LLC now owns 1,037,881 shares of the real estate investment trust’s stock worth $14,904,000 after buying an additional 590,099 shares during the period. Center Lake Capital Management LLC boosted its stake in shares of 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 buying an additional 500,000 shares during the last quarter. Beaconlight Capital LLC bought a new stake in The GEO Group during the first quarter valued at approximately $5,754,000. Great Lakes Advisors LLC increased 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 acquiring an additional 296,090 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in The GEO Group in the 2nd quarter worth $3,906,000. 76.10% of the stock is currently owned by institutional investors.

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.