721,852 Shares in The GEO Group, Inc. (NYSE:GEO) Acquired by Forest Avenue Capital Management LP

Forest Avenue Capital Management LP bought a new stake in The GEO Group, Inc. (NYSE:GEO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 721,852 shares of the real estate investment trust's stock, valued at approximately $20,197,000. The GEO Group makes up about 1.8% of Forest Avenue Capital Management LP's investment portfolio, making the stock its 18th biggest position. Forest Avenue Capital Management LP owned about 0.52% of The GEO Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its holdings in The GEO Group by 91.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 859,528 shares of the real estate investment trust's stock valued at $24,050,000 after acquiring an additional 411,565 shares in the last quarter. GAMMA Investing LLC raised its position in The GEO Group by 18.6% in the fourth quarter. GAMMA Investing LLC now owns 8,155 shares of the real estate investment trust's stock worth $228,000 after acquiring an additional 1,281 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of The GEO Group by 53.7% in 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 worth $2,737,000 after purchasing an additional 74,430 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in The GEO Group by 206.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 47,377 shares of the real estate investment trust's stock worth $609,000 after purchasing an additional 31,913 shares during the period. Finally, State Street Corp boosted its stake in The GEO Group by 1.4% during the third quarter. State Street Corp now owns 4,919,298 shares of the real estate investment trust's stock valued at $63,213,000 after buying an additional 66,658 shares during the last quarter. 76.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

The GEO Group Stock Up 1.8 %

Shares of NYSE:GEO traded up $0.53 during trading hours on Friday, reaching $29.60. The stock had a trading volume of 1,912,449 shares, compared to its average volume of 2,783,961. The firm's 50 day moving average is $27.43 and its 200-day moving average is $25.84. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 102.07, a P/E/G ratio of 2.11 and a beta of 0.78. The GEO Group, Inc. has a 1 year low of $11.75 and a 1 year high of $36.46. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.10 and a current ratio of 1.10.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GEO shares. StockNews.com lowered The GEO Group from a "hold" rating to a "sell" rating in a research note on Tuesday, April 1st. UBS Group set a $35.00 price objective on The GEO Group in a research note on Monday, March 24th. Jones Trading reissued a "buy" rating and set a $55.00 price target on shares of The GEO Group in a report on Friday, March 21st. Noble Financial reiterated an "outperform" rating on shares of The GEO Group in a research report on Monday, March 24th. Finally, Wedbush restated an "outperform" rating and set a $46.00 target price on shares of The GEO Group in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

The GEO Group 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.