The GEO Group (NYSE:GEO) Shares Down 4.9% – Here’s Why

The GEO Group, Inc. (NYSE:GEO)’s share price fell 4.9% during trading on Tuesday . The company traded as low as $29.29 and last traded at $29.51. 1,377,757 shares traded hands during trading, a decline of 54% from the average session volume of 3,013,622 shares. The stock had previously closed at $31.01.

Analyst Ratings Changes

GEO has been the subject of several analyst reports. Noble Financial lowered shares of The GEO Group from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. Northland Securities upped their target price on The GEO Group from $16.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Wedbush reiterated an “outperform” rating on shares of The GEO Group in a research report on Tuesday, December 17th.

The GEO Group Stock Performance

The stock has a market cap of $4.40 billion, a P/E ratio of 108.49, a price-to-earnings-growth ratio of 2.71 and a beta of 0.87. The firm’s 50-day moving average is $29.55 and its two-hundred day moving average is $20.36. 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 GEO Group (NYSE:GEO) last announced its quarterly earnings results on Thursday, November 7th. The real estate investment trust reported $0.21 EPS 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 the consensus estimate of $611.69 million. During the same quarter in the prior year, the business earned $0.19 EPS. As a group, research analysts expect that The GEO Group, Inc. will post 0.83 EPS for the current year.

Hedge Funds Weigh In On The GEO Group

Hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of The GEO Group in the 3rd quarter valued at $25,000. Sound Income Strategies LLC increased 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 bought a new position in The GEO Group in the 3rd quarter valued at approximately $67,000. Quarry LP bought a new stake in The GEO Group in the 3rd quarter worth about $77,000. Finally, GAMMA Investing LLC grew its position in 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 worth $88,000 after purchasing an additional 1,910 shares during the period. Institutional investors and hedge funds own 76.10% of the company’s stock.

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.