The GEO Group (NYSE:GEO) Shares Down 5.7% – Here’s What Happened

The GEO Group, Inc. (NYSE:GEO) shares were down 5.7% on Wednesday . The company traded as low as $33.35 and last traded at $32.89. Approximately 389,884 shares were traded during trading, a decline of 87% from the average daily volume of 2,950,796 shares. The stock had previously closed at $34.87.

Analyst Ratings Changes

A number of brokerages have commented on GEO. Wedbush reiterated an “outperform” rating on shares of The GEO Group in a research note on Tuesday, December 17th. Noble Financial downgraded The GEO Group from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. Finally, Northland Securities raised their price objective on The GEO Group from $16.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

The GEO Group Stock Down 3.2 %

The company has a market cap of $4.72 billion, a price-to-earnings ratio of 116.30, a P/E/G ratio of 2.79 and a beta of 0.87. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a 50-day moving average price of $28.91 and a 200 day moving average price of $19.68.

The GEO Group (NYSE:GEO) last announced its earnings results on Thursday, November 7th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.03). The business had revenue of $603.13 million for the quarter, compared to the consensus estimate of $611.69 million. The GEO Group had a return on equity of 9.20% and a net margin of 2.00%. During the same period in the prior year, the business posted $0.19 earnings per share. Sell-side analysts predict that The GEO Group, Inc. will post 0.83 EPS for the current year.

Institutional Trading of The GEO Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of The GEO Group during the third quarter worth $25,000. Sound Income Strategies LLC increased its holdings in The GEO Group by 472.1% in the 3rd quarter. Sound Income Strategies LLC now owns 3,181 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 2,625 shares in the last quarter. Morse Asset Management Inc bought a new position in The GEO Group in the third quarter valued at about $67,000. Quarry LP acquired a new stake in shares of The GEO Group during the third quarter valued at about $77,000. Finally, GAMMA Investing LLC grew its holdings in shares of The GEO Group by 38.5% during the third quarter. GAMMA Investing LLC now owns 6,874 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 1,910 shares during the last quarter. Institutional investors own 76.10% of the company’s stock.

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.