Standard Life Aberdeen plc Trims Holdings in The GEO Group Inc (GEO)
Standard Life Aberdeen plc cut its stake in The GEO Group Inc (NYSE:GEO) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 704,200 shares of the real estate investment trust’s stock after selling 9,100 shares during the period. Standard Life Aberdeen plc owned approximately 0.58% of The GEO Group worth $17,718,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Qube Research & Technologies Ltd bought a new stake in The GEO Group in the 2nd quarter valued at $116,000. Centaurus Financial Inc. acquired a new position in shares of The GEO Group in the 2nd quarter valued at $149,000. Itau Unibanco Holding S.A. acquired a new position in shares of The GEO Group in the 2nd quarter valued at $169,000. Creative Planning acquired a new position in shares of The GEO Group in the 3rd quarter valued at $204,000. Finally, Jane Street Group LLC acquired a new position in shares of The GEO Group in the 2nd quarter valued at $206,000. 88.58% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on GEO. ValuEngine upgraded shares of The GEO Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Zacks Investment Research upgraded shares of The GEO Group from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Tuesday, November 13th. Finally, Wells Fargo & Co set a $25.00 price objective on shares of The GEO Group and gave the company a “hold” rating in a research note on Wednesday, November 28th.
The GEO Group (NYSE:GEO) last announced its quarterly earnings data on Wednesday, November 7th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.19). The GEO Group had a net margin of 6.43% and a return on equity of 14.63%. The business had revenue of $583.53 million during the quarter, compared to analyst estimates of $588.32 million. During the same quarter in the prior year, the company posted $0.63 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts forecast that The GEO Group Inc will post 1.95 earnings per share for the current year.
In other news, CEO George C. Zoley bought 120,240 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was acquired at an average price of $22.45 per share, for a total transaction of $2,699,388.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO George C. Zoley bought 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 21st. The shares were purchased at an average price of $22.33 per share, with a total value of $1,116,500.00. Following the transaction, the chief executive officer now directly owns 1,750,000 shares in the company, valued at $39,077,500. The disclosure for this purchase can be found here. Corporate insiders own 36.50% of the company’s stock.
About The GEO Group
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.
Further Reading: Quiet Period
Want to see what other hedge funds are holding GEO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The GEO Group Inc (NYSE:GEO).
Receive News & Ratings for The GEO Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The GEO Group and related companies with MarketBeat.com's FREE daily email newsletter.