The GEO Group (NYSE:GEO) Shares Down 5.7% - Here's What Happened

Shares of The GEO Group, Inc. (NYSE:GEO - Get Free Report) traded down 5.7% on Wednesday . The stock traded as low as $33.35 and last traded at $32.89. 389,884 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 2,950,796 shares. The stock had previously closed at $34.87.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Noble Financial downgraded The GEO Group from an "outperform" rating to a "market perform" rating in a report on Monday, November 11th. Northland Securities lifted their price target on shares of The GEO Group from $16.00 to $37.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Finally, Wedbush reissued an "outperform" rating on shares of The GEO Group in a research note on Tuesday, December 17th.

The GEO Group Stock Performance

The company has a market cap of $4.80 billion, a PE ratio of 118.30, a P/E/G ratio of 2.79 and a beta of 0.87. 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 business's fifty day moving average is $29.08 and its 200-day moving average is $19.78.

The GEO Group (NYSE:GEO - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.03). The GEO Group had a net margin of 2.00% and a return on equity of 9.20%. The business had revenue of $603.13 million for the quarter, compared to the consensus estimate of $611.69 million. During the same period in the previous year, the firm earned $0.19 EPS. As a group, research analysts predict that The GEO Group, Inc. will post 0.83 EPS for the current fiscal year.

Institutional Trading of The GEO Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in The GEO Group during the 3rd quarter valued at approximately $25,000. Sound Income Strategies LLC grew its holdings 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 buying an additional 2,625 shares in the last quarter. Morse Asset Management Inc bought a new stake in shares of The GEO Group during the third quarter valued at approximately $67,000. Quarry LP purchased a new position in shares of The GEO Group in the third quarter worth $77,000. Finally, GAMMA Investing LLC boosted its position in shares of The GEO Group by 38.5% during the third quarter. GAMMA Investing LLC now owns 6,874 shares of the real estate investment trust's stock worth $88,000 after acquiring an additional 1,910 shares during the last quarter. 76.10% of the stock is owned by hedge funds and other institutional investors.

About The GEO Group

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.