Bank of New York Mellon Corp Sells 21,310 Shares of Geo Group Inc (The) (NYSE:GEO)

Bank of New York Mellon Corp decreased its stake in Geo Group Inc (The) (NYSE:GEO - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 861,662 shares of the real estate investment trust's stock after selling 21,310 shares during the period. Bank of New York Mellon Corp owned 0.61% of Geo Group worth $25,169,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GEO. GAMMA Investing LLC increased its position in Geo Group by 6.9% during the first quarter. GAMMA Investing LLC now owns 8,721 shares of the real estate investment trust's stock worth $255,000 after buying an additional 566 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Geo Group in the 4th quarter valued at $29,000. Tyler Stone Wealth Management grew its holdings in Geo Group by 8.4% in the 4th quarter. Tyler Stone Wealth Management now owns 13,314 shares of the real estate investment trust's stock valued at $373,000 after buying an additional 1,030 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Geo Group by 7.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 19,892 shares of the real estate investment trust's stock valued at $557,000 after acquiring an additional 1,397 shares during the period. Finally, Summit Investment Advisors Inc. grew its stake in shares of Geo Group by 12.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 13,316 shares of the real estate investment trust's stock valued at $373,000 after acquiring an additional 1,479 shares in the last quarter. 76.10% of the stock is currently owned by institutional investors.

Geo Group Price Performance

Geo Group stock traded down $0.71 during midday trading on Friday, reaching $24.51. The company's stock had a trading volume of 2,825,160 shares, compared to its average volume of 2,914,552. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.24. The stock has a market cap of $3.46 billion, a PE ratio of 129.01, a price-to-earnings-growth ratio of 2.77 and a beta of 0.71. Geo Group Inc has a 52 week low of $11.75 and a 52 week high of $36.46. The business has a 50-day moving average price of $25.79 and a 200-day moving average price of $27.82.

Geo Group (NYSE:GEO - Get Free Report) last announced its quarterly 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). Geo Group had a net margin of 1.19% and a return on equity of 7.36%. The company had revenue of $604.65 million for the quarter, compared to the consensus estimate of $611.81 million. During the same period last year, the firm posted $0.14 earnings per share. On average, sell-side analysts predict that Geo Group Inc will post 0.83 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on GEO shares. Wedbush restated an "outperform" rating and set a $36.00 target price on shares of Geo Group in a research report on Monday, June 23rd. Wall Street Zen upgraded Geo Group from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. UBS Group set a $35.00 target price on Geo Group in a research report on Monday, March 24th. Noble Financial restated an "outperform" rating on shares of Geo Group in a research report on Monday, March 24th. Finally, Jones Trading reduced their price objective on shares of Geo Group from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Geo Group currently has an average rating of "Moderate Buy" and a consensus price target of $38.00.

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.