Seven Eight Capital LP Takes $1.13 Million Position in The GEO Group, Inc. (NYSE:GEO)

Seven Eight Capital LP bought a new position in shares of The GEO Group, Inc. (NYSE:GEO) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 78,569 shares of the real estate investment trust’s stock, valued at approximately $1,128,000. Seven Eight Capital LP owned approximately 0.06% of The GEO Group as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of The GEO Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 13,575,361 shares of the real estate investment trust’s stock worth $147,021,000 after acquiring an additional 58,184 shares during the period. Goldman Sachs Group Inc. lifted its position in The GEO Group by 1,116.5% in the fourth 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. Bank of New York Mellon Corp boosted its stake in The GEO Group by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 1,114,771 shares of the real estate investment trust’s stock worth $16,008,000 after buying an additional 49,134 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in The GEO Group by 131.8% during the second quarter. Nisa Investment Advisors LLC now owns 1,037,881 shares of the real estate investment trust’s stock worth $14,904,000 after buying an additional 590,099 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in The GEO Group by 3.6% in the 2nd quarter. Principal Financial Group Inc. now owns 656,596 shares of the real estate investment trust’s stock valued at $9,429,000 after buying an additional 22,969 shares during the period. 76.10% of the stock is owned by institutional investors and hedge funds.

The GEO Group Stock Down 1.0 %

Shares of NYSE:GEO opened at $12.37 on Friday. The company’s fifty day moving average is $13.94 and its 200-day moving average is $13.97. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.26. The GEO Group, Inc. has a 52 week low of $7.38 and a 52 week high of $18.05. The company has a market capitalization of $1.69 billion, a PE ratio of 17.42, a P/E/G ratio of 1.45 and a beta of 0.66.

The GEO Group (NYSE:GEO) last released its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The GEO Group had a net margin of 1.92% and a return on equity of 8.87%. The firm had revenue of $607.19 million during the quarter, compared to analyst estimates of $606.16 million. During the same quarter last year, the firm earned $0.24 earnings per share. Equities research analysts predict that The GEO Group, Inc. will post 0.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GEO. Wedbush reiterated an “outperform” rating and set a $17.00 target price on shares of The GEO Group in a research report on Thursday. StockNews.com downgraded The GEO Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th.

Insider Activity at The GEO Group

In other The GEO Group news, EVP Shayn P. March sold 2,500 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $17.50, for a total value of $43,750.00. Following the transaction, the executive vice president now owns 65,330 shares of the company’s stock, valued at $1,143,275. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Chairman George C. Zoley bought 100,000 shares of The GEO Group stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $12.33 per share, for a total transaction of $1,233,000.00. Following the completion of the transaction, the chairman now owns 3,900,904 shares of the company’s stock, valued at $48,098,146.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shayn P. March sold 2,500 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $17.50, for a total value of $43,750.00. Following the completion of the transaction, the executive vice president now owns 65,330 shares in the company, valued at $1,143,275. The disclosure for this sale can be found here. Insiders own 5.30% 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.