Geo Group Inc (The) $GEO Stock Position Reduced by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its position in Geo Group Inc (The) (NYSE:GEO - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,456,912 shares of the real estate investment trust's stock after selling 334,502 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.74% of Geo Group worth $71,766,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GEO. NewEdge Advisors LLC bought a new stake in shares of Geo Group during the 4th quarter worth about $29,000. NBC Securities Inc. bought a new stake in shares of Geo Group during the 1st quarter worth about $58,000. Morse Asset Management Inc grew its stake in shares of Geo Group by 29.0% in the 4th quarter. Morse Asset Management Inc now owns 6,760 shares of the real estate investment trust's stock worth $189,000 after purchasing an additional 1,520 shares during the last quarter. Mariner LLC acquired a new position in shares of Geo Group in the 4th quarter worth approximately $208,000. Finally, Highland Capital Management LLC acquired a new position in shares of Geo Group in the 1st quarter worth approximately $210,000. 76.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Geo Group from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Wedbush reaffirmed an "outperform" rating and issued a $36.00 price objective on shares of Geo Group in a research note on Monday, June 23rd. Finally, Jones Trading lowered their price objective on shares of Geo Group from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

Geo Group Trading Up 0.4%

Shares of Geo Group stock traded up $0.09 during trading on Monday, hitting $21.10. The stock had a trading volume of 1,082,411 shares, compared to its average volume of 3,094,252. The stock has a 50 day simple moving average of $24.43 and a 200 day simple moving average of $26.60. The company has a market capitalization of $2.99 billion, a PE ratio of 32.49, a P/E/G ratio of 2.28 and a beta of 0.75. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.07. Geo Group Inc has a 1 year low of $11.75 and a 1 year high of $36.46.

Geo Group (NYSE:GEO - Get Free Report) last released its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $636.17 million for the quarter, compared to the consensus estimate of $621.55 million. Geo Group had a net margin of 3.69% and a return on equity of 7.26%. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. On average, research analysts expect that Geo Group Inc will post 0.83 EPS for the current fiscal year.

Geo Group declared that its board has authorized a stock repurchase program on Wednesday, August 6th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

About 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.