Harber Asset Management LLC Has $9.28 Million Stock Position in The GEO Group, Inc. (NYSE:GEO)

Harber Asset Management LLC reduced its position in shares of The GEO Group, Inc. (NYSE:GEO) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 722,188 shares of the real estate investment trust’s stock after selling 25,049 shares during the quarter. The GEO Group accounts for approximately 2.8% of Harber Asset Management LLC’s holdings, making the stock its 19th biggest position. Harber Asset Management LLC owned about 0.52% of The GEO Group worth $9,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in 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 valued at $14,904,000 after acquiring an additional 590,099 shares in the last quarter. Great Lakes Advisors LLC lifted 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 buying an additional 296,090 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in The GEO Group in the second quarter worth about $3,906,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of The GEO Group during the 2nd quarter worth about $2,790,000. Finally, Gordian Capital Singapore Pte Ltd bought a new position in The GEO Group in the 2nd quarter worth approximately $2,104,000. Hedge funds and other institutional investors own 76.10% of the company’s stock.

The GEO Group Stock Down 4.9 %

The GEO Group stock opened at $27.12 on Tuesday. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 93.52, a price-to-earnings-growth ratio of 3.45 and a beta of 0.88. The GEO Group, Inc. has a 1-year low of $9.77 and a 1-year high of $29.57. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.25. The firm’s fifty day moving average price is $18.79 and its two-hundred day moving average price is $15.64.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GEO shares. Wedbush increased their price objective on shares of The GEO Group from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. StockNews.com downgraded shares of The GEO Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Noble Financial cut shares of The GEO Group from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. Finally, Northland Securities lifted their price objective on shares of The GEO Group from $16.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 8th.

The GEO Group 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.