The GEO Group (NYSE:GEO) Shares Gap Up to $13.51

The GEO Group, Inc. (NYSE:GEO)’s share price gapped up prior to trading on Friday . The stock had previously closed at $13.51, but opened at $14.27. The GEO Group shares last traded at $14.09, with a volume of 970,322 shares traded.

Analyst Ratings Changes

Separately, Wedbush lowered their price target on shares of The GEO Group from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th.

The GEO Group Stock Performance

The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 1.34 and a beta of 0.64. The firm’s 50 day moving average is $13.84 and its 200-day moving average is $12.81. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.26 and a current ratio of 1.26.

The GEO Group (NYSE:GEO) last posted its earnings results on Tuesday, May 7th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). The company had revenue of $605.67 million for the quarter, compared to the consensus estimate of $603.84 million. The GEO Group had a net margin of 4.51% and a return on equity of 8.88%. During the same quarter last year, the business earned $0.22 earnings per share. Sell-side analysts anticipate that The GEO Group, Inc. will post 1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Shayn P. March sold 2,500 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $15.00, for a total transaction of $37,500.00. Following the completion of the sale, the chief financial officer now directly owns 67,830 shares of the company’s stock, valued at approximately $1,017,450. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Shayn P. March sold 2,500 shares of The GEO Group stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $15.00, for a total value of $37,500.00. Following the transaction, the chief financial officer now directly owns 67,830 shares in the company, valued at $1,017,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Michael Kernan sold 5,300 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $13.62, for a total value of $72,186.00. Following the sale, the director now owns 23,936 shares of the company’s stock, valued at approximately $326,008.32. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On The GEO Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in The GEO Group by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,012,341 shares of the real estate investment trust’s stock valued at $32,624,000 after purchasing an additional 63,101 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of The GEO Group by 1,116.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,846,814 shares of the real estate investment trust’s stock worth $52,491,000 after purchasing an additional 4,448,385 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of The GEO Group during the 4th quarter worth about $3,161,000. Louisiana State Employees Retirement System acquired a new position in shares of The GEO Group during the fourth quarter valued at about $662,000. Finally, Center Lake Capital Management LLC bought a new stake in shares of The GEO Group in the fourth quarter valued at about $1,083,000. Institutional investors and hedge funds 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.