Perigon Wealth Management LLC Buys Shares of 8,527 The GEO Group, Inc. (NYSE:GEO)

Perigon Wealth Management LLC purchased a new position in shares of The GEO Group, Inc. (NYSE:GEO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,527 shares of the real estate investment trust's stock, valued at approximately $239,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of The GEO Group during the third quarter worth about $25,000. Sound Income Strategies LLC grew its stake in The GEO Group by 472.1% during the 3rd quarter. Sound Income Strategies LLC now owns 3,181 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 2,625 shares in the last quarter. Morse Asset Management Inc purchased a new stake in The GEO Group during the 3rd quarter worth approximately $67,000. Quarry LP acquired a new position in shares of The GEO Group in the 3rd quarter valued at approximately $77,000. Finally, GAMMA Investing LLC raised its position in shares of The GEO Group by 38.5% in the 3rd quarter. GAMMA Investing LLC now owns 6,874 shares of the real estate investment trust's stock valued at $88,000 after purchasing an additional 1,910 shares in the last quarter. Institutional investors and hedge funds own 76.10% of the company's stock.

The GEO Group Stock Performance

Shares of GEO stock traded down $0.94 on Thursday, hitting $27.46. 3,248,809 shares of the stock traded hands, compared to its average volume of 3,137,901. The company's fifty day moving average is $29.71 and its 200 day moving average is $20.86. The GEO Group, Inc. has a 1-year low of $11.01 and a 1-year high of $36.46. The company has a market capitalization of $3.84 billion, a PE ratio of 94.71, a PEG ratio of 2.49 and a beta of 0.87. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.10 and a quick ratio of 1.10.

The GEO Group (NYSE:GEO - Get Free Report) last issued its earnings results on Thursday, November 7th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.03). The GEO Group had a return on equity of 9.20% and a net margin of 2.00%. The business had revenue of $603.13 million for the quarter, compared to analyst estimates of $611.69 million. During the same period last year, the company posted $0.19 earnings per share. On average, equities 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 brokerages recently issued reports on GEO. Noble Financial lowered shares of The GEO Group from an "outperform" rating to a "market perform" rating in a research note on Monday, November 11th. Northland Securities boosted their target price on shares of The GEO Group from $16.00 to $37.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Finally, Wedbush restated an "outperform" rating on shares of The GEO Group in a research note on Tuesday, December 17th.

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.