Raymond James Trust N.A. bought a new position in shares of The GEO Group Inc (NYSE:GEO) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,352 shares of the real estate investment trust’s stock, valued at approximately $336,000.
Several other institutional investors have also recently added to or reduced their stakes in GEO. Qube Research & Technologies Ltd purchased a new position in The GEO Group during the second quarter valued at approximately $116,000. Centaurus Financial Inc. purchased a new position in The GEO Group during the second quarter valued at approximately $149,000. Itau Unibanco Holding S.A. purchased a new position in The GEO Group during the second quarter valued at approximately $169,000. Creative Planning purchased a new position in The GEO Group during the third quarter valued at approximately $204,000. Finally, Jane Street Group LLC purchased a new position in The GEO Group during the second quarter valued at approximately $206,000. 88.58% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on GEO. Zacks Investment Research upgraded The GEO Group from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Tuesday, November 13th. ValuEngine cut The GEO Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, November 7th. Finally, Wells Fargo & Co set a $25.00 price objective on The GEO Group and gave the company a “hold” rating in a research report on Wednesday, November 28th.
The GEO Group stock opened at $23.38 on Monday. The company has a market capitalization of $2.83 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27. The GEO Group Inc has a 12 month low of $19.05 and a 12 month high of $28.06. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.85 and a quick ratio of 0.85.
The GEO Group (NYSE:GEO) last posted its quarterly earnings data on Wednesday, November 7th. The real estate investment trust reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.19). The business had revenue of $583.53 million during the quarter, compared to analysts’ expectations of $588.32 million. The GEO Group had a net margin of 6.43% and a return on equity of 14.63%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 earnings per share. As a group, equities analysts predict that The GEO Group Inc will post 1.95 EPS for the current fiscal year.
The GEO Group Profile
The GEO Group, Inc (NYSE: GEO) is the first fully integrated equity real estate investment trust ("REIT") 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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