Charles Schwab Investment Management Inc. Has $71.77 Million Stock Position in Geo Group Inc (The) (NYSE:GEO)

Charles Schwab Investment Management Inc. reduced its position in Geo Group Inc (The) (NYSE:GEO - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 approximately 1.74% of Geo Group worth $71,766,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC bought a new position in Geo Group in the fourth quarter worth $29,000. NBC Securities Inc. bought a new position in Geo Group in the first quarter worth $58,000. Morse Asset Management Inc lifted its position in Geo Group by 29.0% in the fourth 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 period. Mariner LLC bought a new position in Geo Group in the fourth quarter worth $208,000. Finally, Highland Capital Management LLC bought a new position in Geo Group in the first quarter worth $210,000. 76.10% of the stock is owned by institutional investors.

Geo Group Price Performance

Shares of NYSE:GEO traded up $0.19 during midday trading on Friday, reaching $20.95. The company's stock had a trading volume of 2,601,055 shares, compared to its average volume of 3,911,645. Geo Group Inc has a fifty-two week low of $11.75 and a fifty-two week high of $36.46. The company has a market capitalization of $2.97 billion, a P/E ratio of 32.23, a P/E/G ratio of 2.26 and a beta of 0.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.90 and a quick ratio of 0.90. The business's fifty day simple moving average is $24.43 and its 200-day simple moving average is $26.67.

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

Geo Group announced that its Board of Directors has approved a share buyback program on Wednesday, August 6th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.