The GEO Group (NYSE:GEO) Stock Price Down 4.9% - Here's What Happened

The GEO Group, Inc. (NYSE:GEO - Get Free Report)'s share price was down 4.9% during mid-day trading on Tuesday . The company traded as low as $29.29 and last traded at $29.51. Approximately 1,377,757 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 3,013,622 shares. The stock had previously closed at $31.01.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GEO. Northland Securities upped their target price on The GEO Group from $16.00 to $37.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Wedbush reaffirmed an "outperform" rating on shares of The GEO Group in a report on Tuesday, December 17th. Finally, Noble Financial lowered The GEO Group from an "outperform" rating to a "market perform" rating in a report on Monday, November 11th.

The GEO Group Price Performance

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 company has a market cap of $4.41 billion, a price-to-earnings ratio of 108.92, a P/E/G ratio of 2.47 and a beta of 0.87. The business has a 50-day moving average price of $29.61 and a 200 day moving average price of $20.44.

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

Institutional Trading of The GEO Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP bought a new stake in The GEO Group in the second quarter worth approximately $1,314,000. Renaissance Technologies LLC raised its stake in shares of The GEO Group by 352.4% in the 2nd quarter. Renaissance Technologies LLC now owns 100,425 shares of the real estate investment trust's stock valued at $1,442,000 after acquiring an additional 78,225 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in The GEO Group by 4.5% during the second quarter. Thrivent Financial for Lutherans now owns 110,649 shares of the real estate investment trust's stock valued at $1,589,000 after purchasing an additional 4,759 shares during the last quarter. Marshall Wace LLP acquired a new position in The GEO Group in the 2nd quarter valued at $234,000. Finally, AQR Capital Management LLC increased its stake in shares of The GEO Group by 16.6% in the second quarter. AQR Capital Management LLC now owns 23,177 shares of the real estate investment trust's stock worth $333,000 after purchasing an additional 3,295 shares during the period. 76.10% of the stock is currently owned by hedge funds and other institutional investors.

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.