Allianz Asset Management GmbH Has $24.39 Million Position in Geo Group Inc (The) $GEO

Allianz Asset Management GmbH lessened its position in shares of Geo Group Inc (The) (NYSE:GEO) by 6.4% in the third quarter, HoldingsChannel.com reports. The fund owned 1,190,080 shares of the real estate investment trust’s stock after selling 81,464 shares during the period. Allianz Asset Management GmbH’s holdings in Geo Group were worth $24,385,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. State Street Corp raised its position in Geo Group by 2.0% during the second quarter. State Street Corp now owns 4,922,108 shares of the real estate investment trust’s stock valued at $117,884,000 after purchasing an additional 98,739 shares in the last quarter. Continental General Insurance Co. boosted its holdings in shares of Geo Group by 919.8% in the 2nd quarter. Continental General Insurance Co. now owns 3,904,474 shares of the real estate investment trust’s stock valued at $93,512,000 after purchasing an additional 3,521,589 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Geo Group by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,259,307 shares of the real estate investment trust’s stock valued at $78,076,000 after purchasing an additional 108,106 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Geo Group by 4.2% during the 2nd quarter. Invesco Ltd. now owns 1,308,817 shares of the real estate investment trust’s stock worth $31,346,000 after buying an additional 52,623 shares in the last quarter. Finally, Rubric Capital Management LP raised its holdings in shares of Geo Group by 84.6% during the 2nd quarter. Rubric Capital Management LP now owns 1,247,393 shares of the real estate investment trust’s stock worth $29,875,000 after buying an additional 571,502 shares in the last quarter. Institutional investors and hedge funds own 76.10% of the company’s stock.

Wall Street Analyst Weigh In

GEO has been the topic of several research analyst reports. Zacks Research raised Geo Group from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Wall Street Zen raised shares of Geo Group from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Jones Trading reduced their price target on shares of Geo Group from $50.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Geo Group in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Geo Group presently has an average rating of “Moderate Buy” and an average target price of $35.00.

Geo Group Price Performance

Geo Group stock opened at $15.89 on Friday. The stock’s 50 day moving average is $16.68 and its 200 day moving average is $18.60. Geo Group Inc has a one year low of $14.27 and a one year high of $32.09. The firm has a market cap of $2.21 billion, a P/E ratio of 9.35 and a beta of 0.73. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.62 and a quick ratio of 1.62.

Geo Group (NYSE:GEO) last released its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.03. Geo Group had a net margin of 9.41% and a return on equity of 7.42%. The firm had revenue of $682.34 million during the quarter, compared to analyst estimates of $665.81 million. During the same quarter last year, the business earned $0.21 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. As a group, research analysts expect that Geo Group Inc will post 0.83 EPS for the current year.

About Geo Group

The GEO Group (NYSE:GEO) is a leading provider of correctional, detention and community reentry services to government agencies around the world. As a real estate investment trust, the company specializes in the design, financing, development and operation of secure facilities for adult and juvenile offenders, immigration detainees and individuals requiring mental health treatment or substance abuse programming. GEO’s integrated service model also encompasses electronic monitoring, rehabilitative programming and post-release supervision aimed at reducing recidivism and enhancing public safety.

GEO’s portfolio spans a range of facility types, including medium- and maximum-security correctional institutions, residential reentry centers, mental health treatment units and immigration detention centers.