PNC Financial Services Group Inc. trimmed its holdings in shares of The GEO Group, Inc. (NYSE:GEO - Free Report) by 26.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,370 shares of the real estate investment trust's stock after selling 9,716 shares during the period. PNC Financial Services Group Inc.'s holdings in The GEO Group were worth $738,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. grew its holdings in The GEO Group by 363.5% in the third quarter. Point72 Asset Management L.P. now owns 702,107 shares of the real estate investment trust's stock worth $9,022,000 after purchasing an additional 968,601 shares during the period. Hodges Capital Management Inc. raised its stake in The GEO Group by 1,501.6% during the 3rd quarter. Hodges Capital Management Inc. now owns 788,800 shares of the real estate investment trust's stock worth $10,136,000 after buying an additional 739,550 shares during the period. 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 worth $24,050,000 after acquiring an additional 411,565 shares in the last quarter. Philosophy Capital Management LLC grew its stake in The GEO Group by 17.1% in the third quarter. Philosophy Capital Management LLC now owns 1,644,005 shares of the real estate investment trust's stock valued at $21,125,000 after acquiring an additional 240,251 shares during the period. Finally, Pinnbrook Capital Management LP acquired a new stake in The GEO Group in the 4th quarter valued at $4,837,000. Institutional investors own 76.10% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on GEO. Jones Trading reiterated a "buy" rating and set a $55.00 price target on shares of The GEO Group in a research note on Friday. UBS Group set a $32.00 price objective on The GEO Group in a research note on Wednesday, March 5th. Noble Financial upgraded shares of The GEO Group from a "market perform" rating to an "outperform" rating and set a $32.00 target price for the company in a research note on Wednesday, March 5th. Wedbush reissued an "outperform" rating and set a $46.00 price target on shares of The GEO Group in a research report on Tuesday. Finally, StockNews.com downgraded shares of The GEO Group from a "hold" rating to a "sell" rating in a research report on Thursday. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.40.
Check Out Our Latest Research Report on GEO
The GEO Group Stock Performance
Shares of NYSE:GEO traded down $0.84 during midday trading on Friday, reaching $28.24. The company had a trading volume of 4,267,279 shares, compared to its average volume of 2,700,928. The stock has a market cap of $3.96 billion, a P/E ratio of 97.37, a P/E/G ratio of 2.11 and a beta of 0.91. The company's 50 day moving average price is $28.63 and its 200 day moving average price is $23.50. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.25. The GEO Group, Inc. has a 52-week low of $11.75 and a 52-week high of $36.46.
The GEO Group (NYSE:GEO - Get Free Report) last released its earnings results 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, sell-side analysts anticipate that The GEO Group, Inc. will post 0.83 EPS for the current fiscal year.
About The GEO Group
(
Free Report)
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.
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