Geo Group (NYSE:GEO) Sets New 12-Month High – Here’s Why

Geo Group Inc (The) (NYSE:GEO) shares hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $33.31 and last traded at $33.0420, with a volume of 871,116 shares traded. The stock had previously closed at $31.94.

Wall Street Analyst Weigh In

GEO has been the subject of several research reports. Weiss Ratings downgraded Geo Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. JonesTrading lifted their price target on Geo Group from $40.00 to $42.75 and gave the company a “buy” rating in a research note on Thursday, November 5th. UBS Group restated a “buy” rating on shares of Geo Group in a report on Tuesday, October 6th. Zacks Research raised Geo Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Finally, Wall Street Zen lowered shares of Geo Group from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Geo Group currently has a consensus rating of “Buy” and a consensus price target of $41.38.

Geo Group Trading Down 1.4%

The company has a market cap of $4.27 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 1.63 and a beta of 0.78. The business’s fifty day moving average price is $30.06 and its 200 day moving average price is $24.76. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.71 and a quick ratio of 1.65.

Geo Group (NYSE:GEO) last issued its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.04. The company had revenue of $761.06 million for the quarter, compared to analysts’ expectations of $770.87 million. Geo Group had a net margin of 5.74% and a return on equity of 11.44%. Geo Group’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Research analysts anticipate that Geo Group Inc will post 1.44 earnings per share for the current fiscal year.

Insider Activity

In other Geo Group news, insider Ronald A. Brack sold 7,000 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $32.00, for a total value of $224,000.00. Following the sale, the insider owned 71,614 shares in the company, valued at approximately $2,291,648. The trade was a 8.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Matthew Albence sold 11,797 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $31.45, for a total value of $371,015.65. Following the completion of the sale, the vice president directly owned 87,602 shares of the company’s stock, valued at approximately $2,755,082.90. The trade was a 11.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,797 shares of company stock worth $911,916 over the last ninety days. Company insiders own 4.98% of the company’s stock.

Hedge Funds Weigh In On Geo Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. increased its position in Geo Group by 111.9% during the 1st quarter. Bessemer Group Inc. now owns 1,723 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 910 shares during the period. Parallel Advisors LLC raised its holdings in Geo Group by 165.5% during the 3rd quarter. Parallel Advisors LLC now owns 1,017 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 634 shares during the last quarter. Fortitude Family Office LLC bought a new position in Geo Group during the 3rd quarter worth approximately $32,000. Global Retirement Partners LLC acquired a new position in shares of Geo Group in the 2nd quarter worth approximately $34,000. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Geo Group by 22.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 3,866 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 715 shares during the period. 76.10% of the stock is owned by institutional investors and hedge funds.

Geo Group Company Profile

The GEO Group, Inc. provides government services focused on corrections, detention and community-based supervision. Its services include operating secure facilities and processing centers, managing community reentry programs, and providing electronic monitoring and supervision technology for individuals in the community. The company serves federal, state and local government agencies, primarily in the United States. Its work also includes related services such as secure transportation and support programs for people transitioning from incarceration back into the community.