The GEO Group, Inc. (NYSE:GEO) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in The GEO Group, Inc. (NYSE:GEO - Free Report) by 22.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 274,296 shares of the real estate investment trust's stock after selling 78,282 shares during the quarter. Bank of America Corp DE owned 0.20% of The GEO Group worth $7,675,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of GEO. Discovery Capital Management LLC CT increased its position in shares of The GEO Group by 375.2% during the 4th quarter. Discovery Capital Management LLC CT now owns 1,839,500 shares of the real estate investment trust's stock valued at $51,469,000 after purchasing an additional 1,452,400 shares during the last quarter. BlueCrest Capital Management Ltd bought a new position in shares of The GEO Group during the 4th quarter worth $34,456,000. Forest Avenue Capital Management LP bought a new stake in The GEO Group during the fourth quarter valued at about $20,197,000. Wellington Management Group LLP bought a new stake in The GEO Group during the fourth quarter valued at about $17,685,000. Finally, Appian Way Asset Management LP purchased a new stake in The GEO Group in the fourth quarter valued at about $14,041,000. Hedge funds and other institutional investors own 76.10% of the company's stock.

The GEO Group Trading Up 0.6%

Shares of GEO stock traded up $0.17 on Friday, hitting $26.82. The stock had a trading volume of 210,531 shares, compared to its average volume of 2,868,718. The GEO Group, Inc. has a twelve month low of $11.75 and a twelve month high of $36.46. The firm has a market cap of $3.79 billion, a P/E ratio of 92.38, a PEG ratio of 2.11 and a beta of 0.80. 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 fifty day moving average price of $28.48 and a two-hundred day moving average price of $28.39.

The GEO Group (NYSE:GEO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.04). The GEO Group had a net margin of 2.00% and a return on equity of 9.20%. The firm had revenue of $604.65 million during the quarter, compared to analyst estimates of $611.81 million. During the same quarter last year, the business posted $0.14 earnings per share. As a group, analysts forecast that The GEO Group, Inc. will post 0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GEO shares. Noble Financial reaffirmed an "outperform" rating on shares of The GEO Group in a research note on Monday, March 24th. UBS Group set a $35.00 price target on The GEO Group in a research note on Monday, March 24th. Wall Street Zen raised The GEO Group from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Wedbush reiterated an "outperform" rating and issued a $36.00 target price (down from $46.00) on shares of The GEO Group in a research note on Thursday, May 8th. Finally, Jones Trading reduced their price target on The GEO Group from $55.00 to $50.00 and set a "buy" rating for the company in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $38.00.

Insider Buying and Selling at The GEO Group

In related news, EVP Shayn P. March sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $30.00, for a total value of $225,000.00. Following the transaction, the executive vice president now owns 67,469 shares of the company's stock, valued at approximately $2,024,070. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.30% of the stock is currently owned by corporate insiders.

The GEO Group 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.