The GEO Group, Inc. (NYSE:GEO) Sees Large Decrease in Short Interest

The GEO Group, Inc. (NYSE:GEO - Get Free Report) saw a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 19,210,000 shares, a drop of 14.9% from the April 15th total of 22,570,000 shares. Approximately 15.9% of the shares of the company are short sold. Based on an average trading volume of 2,780,000 shares, the days-to-cover ratio is currently 6.9 days.

Analyst Upgrades and Downgrades

Separately, Wedbush reduced their target price on The GEO Group from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Wednesday, May 8th.

The GEO Group Price Performance

Shares of NYSE GEO traded up $0.04 during mid-day trading on Tuesday, reaching $13.12. 3,017,147 shares of the company were exchanged, compared to its average volume of 2,657,178. The stock has a market capitalization of $1.79 billion, a PE ratio of 18.41, a PEG ratio of 1.34 and a beta of 0.59. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.31. The GEO Group has a 52 week low of $6.94 and a 52 week high of $16.31. The company's 50 day moving average price is $14.11 and its 200 day moving average price is $11.89.

The GEO Group (NYSE:GEO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). The GEO Group had a net margin of 4.51% and a return on equity of 8.88%. The firm had revenue of $605.67 million for the quarter, compared to analysts' expectations of $603.84 million. During the same period in the prior year, the business posted $0.22 earnings per share. Sell-side analysts forecast that The GEO Group will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other The GEO Group news, CFO Shayn P. March sold 2,500 shares of the company's stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $15.00, for a total transaction of $37,500.00. Following the sale, the chief financial officer now directly owns 67,830 shares of the company's stock, valued at $1,017,450. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of The GEO Group in the fourth quarter worth $48,000. Benjamin F. Edwards & Company Inc. grew its position in The GEO Group by 399.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,852 shares of the real estate investment trust's stock valued at $54,000 after purchasing an additional 3,081 shares during the last quarter. Tidemark LLC bought a new stake in The GEO Group during the 4th quarter valued at about $71,000. Byrne Asset Management LLC raised its holdings in The GEO Group by 47.8% in the fourth quarter. Byrne Asset Management LLC now owns 6,800 shares of the real estate investment trust's stock worth $76,000 after buying an additional 2,200 shares during the last quarter. Finally, Privium Fund Management UK Ltd bought a new position in shares of The GEO Group in the third quarter worth approximately $109,000. Hedge funds and other institutional investors own 76.10% of the company's stock.

About The 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.