Carronade Capital Management LP Reduces Holdings in The GEO Group, Inc. (NYSE:GEO)

Carronade Capital Management LP lowered its holdings in shares of The GEO Group, Inc. (NYSE:GEO - Free Report) by 5.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,601,935 shares of the real estate investment trust's stock after selling 100,000 shares during the period. The GEO Group accounts for approximately 2.5% of Carronade Capital Management LP's holdings, making the stock its 5th largest position. Carronade Capital Management LP owned about 1.15% of The GEO Group worth $44,822,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. NewEdge Advisors LLC acquired a new position in The GEO Group in the 4th quarter valued at about $29,000. SRS Capital Advisors Inc. grew its position in shares of The GEO Group by 160.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,170 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 720 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of The GEO Group by 149.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,527 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 915 shares during the period. Jones Financial Companies Lllp lifted its holdings in The GEO Group by 182.6% during the 4th quarter. Jones Financial Companies Lllp now owns 3,148 shares of the real estate investment trust's stock worth $88,000 after purchasing an additional 2,034 shares during the last quarter. Finally, Rothschild Investment LLC boosted its stake in The GEO Group by 6,800.0% in the 4th quarter. Rothschild Investment LLC now owns 4,140 shares of the real estate investment trust's stock valued at $116,000 after purchasing an additional 4,080 shares during the period. Institutional investors and hedge funds own 76.10% of the company's stock.

Insiders Place Their Bets

In related news, EVP Shayn P. March sold 7,500 shares of The GEO Group stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $30.00, for a total transaction of $225,000.00. Following the sale, the executive vice president now directly owns 67,469 shares of the company's stock, valued at approximately $2,024,070. The trade was a 10.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.30% of the company's stock.

The GEO Group Price Performance

Shares of NYSE:GEO opened at $31.65 on Monday. The firm has a 50 day moving average of $28.14 and a 200-day moving average of $27.25. The GEO Group, Inc. has a 12 month low of $11.75 and a 12 month high of $36.46. 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 stock has a market capitalization of $4.46 billion, a PE ratio of 109.14, a PEG ratio of 2.11 and a beta of 0.80.

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 the consensus estimate of $0.21 by ($0.08). The GEO Group had a return on equity of 9.20% and a net margin of 2.00%. The business had revenue of $607.72 million for the quarter, compared to the consensus estimate of $607.45 million. On average, equities research analysts predict that The GEO Group, Inc. will post 0.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on GEO. Jones Trading reissued a "buy" rating and set a $55.00 target price on shares of The GEO Group in a report on Friday, March 21st. Wedbush reiterated an "outperform" rating and issued a $46.00 price objective on shares of The GEO Group in a research note on Tuesday, March 18th. UBS Group set a $35.00 target price on shares of The GEO Group in a research report on Monday, March 24th. StockNews.com downgraded shares of The GEO Group from a "hold" rating to a "sell" rating in a research report on Thursday. Finally, Noble Financial reissued an "outperform" rating on shares of The GEO Group in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $41.00.

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.

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