Ballast Asset Management LP Reduces Position in The GEO Group, Inc. (NYSE:GEO)

Ballast Asset Management LP trimmed its position in shares of The GEO Group, Inc. (NYSE:GEO - Free Report) by 46.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 172,938 shares of the real estate investment trust's stock after selling 147,428 shares during the period. The GEO Group comprises 2.5% of Ballast Asset Management LP's portfolio, making the stock its 14th largest position. Ballast Asset Management LP owned 0.12% of The GEO Group worth $4,839,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GEO. Quantbot Technologies LP raised its position in The GEO Group by 1,873.3% during the 3rd quarter. Quantbot Technologies LP now owns 69,953 shares of the real estate investment trust's stock valued at $899,000 after purchasing an additional 66,408 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of The GEO Group by 20.7% during the third quarter. BNP Paribas Financial Markets now owns 273,724 shares of the real estate investment trust's stock valued at $3,517,000 after buying an additional 46,905 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of The GEO Group by 53.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 212,986 shares of the real estate investment trust's stock valued at $2,737,000 after acquiring an additional 74,430 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in The GEO Group in the third quarter worth $25,000. Finally, Centiva Capital LP bought a new stake in The GEO Group in the third quarter valued at $289,000. 76.10% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

Several brokerages have commented on GEO. Wedbush restated an "outperform" rating and issued a $46.00 price objective on shares of The GEO Group in a report on Tuesday, March 18th. UBS Group set a $35.00 price target on shares of The GEO Group in a research note on Monday, March 24th. Noble Financial restated an "outperform" rating on shares of The GEO Group in a report on Monday, March 24th. Jones Trading reiterated a "buy" rating and set a $55.00 target price on shares of The GEO Group in a report on Friday, March 21st. Finally, StockNews.com lowered The GEO Group from a "hold" rating to a "sell" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, The GEO Group currently has a consensus rating of "Moderate Buy" and an average price target of $41.00.

Insider Activity at The GEO Group

In other The GEO Group news, EVP Shayn P. March sold 7,500 shares of The GEO Group stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $30.00, for a total value of $225,000.00. Following the completion of the transaction, the executive vice president now directly owns 67,469 shares of the company's stock, valued at approximately $2,024,070. The trade was a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.30% of the stock is currently owned by insiders.

The GEO Group Stock Down 7.0 %

Shares of NYSE GEO traded down $2.04 on Friday, reaching $27.00. 4,246,929 shares of the company's stock traded hands, compared to its average volume of 2,764,980. The business's 50 day simple moving average is $27.68 and its two-hundred day simple moving average is $24.80. The GEO Group, Inc. has a 12 month low of $11.75 and a 12 month high of $36.46. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 93.11, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.25.

The GEO Group (NYSE:GEO - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.08). The GEO Group had a net margin of 2.00% and a return on equity of 9.20%. The company had revenue of $607.72 million for the quarter, compared to the consensus estimate of $607.45 million. As a group, equities research analysts forecast that The GEO Group, Inc. will post 0.83 EPS for the current fiscal year.

The GEO Group Company 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.