The GEO Group (NYSE:GEO) Shares Gap Down to $13.47

Shares of The GEO Group, Inc. (NYSE:GEO) gapped down before the market opened on Wednesday . The stock had previously closed at $13.47, but opened at $12.51. The GEO Group shares last traded at $11.84, with a volume of 746,738 shares.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wedbush reaffirmed an “outperform” rating and issued a $19.00 target price on shares of The GEO Group in a report on Wednesday, August 7th. StockNews.com downgraded The GEO Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th.

The GEO Group Stock Performance

The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36. The stock’s 50 day moving average is $14.27 and its 200 day moving average is $13.97. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.45 and a beta of 0.66.

The GEO Group (NYSE:GEO) last released its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the company earned $0.24 earnings per share. On average, analysts predict that The GEO Group, Inc. will post 0.91 earnings per share for the current year.

Insider Transactions at The GEO Group

In other news, Chairman George C. Zoley bought 100,000 shares of The GEO Group stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $12.33 per share, for a total transaction of $1,233,000.00. Following the acquisition, the chairman now owns 3,900,904 shares in the company, valued at $48,098,146.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman George C. Zoley acquired 100,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $12.33 per share, with a total value of $1,233,000.00. Following the purchase, the chairman now directly owns 3,900,904 shares in the company, valued at approximately $48,098,146.32. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Shayn P. March sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $17.50, for a total transaction of $43,750.00. Following the completion of the sale, the executive vice president now directly owns 65,330 shares in the company, valued at $1,143,275. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On The GEO Group

Institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in The GEO Group by 1,116.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,846,814 shares of the real estate investment trust’s stock worth $52,491,000 after buying an additional 4,448,385 shares during the period. Nisa Investment Advisors LLC lifted 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 acquiring an additional 590,099 shares in the last quarter. Center Lake Capital Management LLC boosted its holdings in The GEO Group by 500.0% in the first quarter. Center Lake Capital Management LLC now owns 600,000 shares of the real estate investment trust’s stock valued at $8,472,000 after purchasing an additional 500,000 shares during the last quarter. Beaconlight Capital LLC acquired a new stake in The GEO Group during the 1st quarter valued at approximately $5,754,000. Finally, Great Lakes Advisors LLC increased its holdings in The GEO Group by 1,803.4% during 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 during the last quarter. 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.