Wells Fargo & Company MN lessened its holdings in The GEO Group Inc (NYSE:GEO) by 15.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 544,946 shares of the real estate investment trust’s stock after selling 101,984 shares during the quarter. Wells Fargo & Company MN owned approximately 0.45% of The GEO Group worth $13,711,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Qube Research & Technologies Ltd bought a new position in The GEO Group in the 2nd quarter valued at $116,000. Centaurus Financial Inc. bought a new position in The GEO Group in the 2nd quarter valued at $149,000. Itau Unibanco Holding S.A. bought a new position in The GEO Group in the 2nd quarter valued at $169,000. Creative Planning bought a new position in The GEO Group in the 3rd quarter valued at $204,000. Finally, Jane Street Group LLC bought a new position in The GEO Group in the 2nd quarter valued at $206,000. 88.58% of the stock is currently owned by institutional investors.
In other news, CEO George C. Zoley bought 50,000 shares of the stock in a transaction on Wednesday, November 21st. The stock was acquired at an average cost of $22.33 per share, for a total transaction of $1,116,500.00. Following the acquisition, the chief executive officer now owns 1,750,000 shares of the company’s stock, valued at $39,077,500. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO George C. Zoley bought 120,240 shares of the stock in a transaction on Monday, November 12th. The stock was purchased at an average price of $22.45 per share, with a total value of $2,699,388.00. The disclosure for this purchase can be found here. 36.50% of the stock is currently owned by corporate insiders.
Several brokerages have commented on GEO. ValuEngine raised The GEO Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Wells Fargo & Co set a $25.00 target price on The GEO Group and gave the stock a “hold” rating in a report on Wednesday, November 28th. Finally, Zacks Investment Research upgraded The GEO Group from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Tuesday, November 13th.
Shares of GEO stock opened at $23.03 on Friday. The GEO Group Inc has a twelve month low of $19.05 and a twelve month high of $28.06. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 2.00 and a beta of 1.27. 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 issued its earnings results on Wednesday, November 7th. The real estate investment trust reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.19). The GEO Group had a return on equity of 14.63% and a net margin of 6.43%. The firm had revenue of $583.53 million during the quarter, compared to analysts’ expectations of $588.32 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The GEO Group’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts forecast that The GEO Group Inc will post 1.95 EPS for the current year.
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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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