PNC Financial Services Group Inc. Sells 9,716 Shares of The GEO Group, Inc. (NYSE:GEO)

PNC Financial Services Group Inc. decreased its position in shares of The GEO Group, Inc. (NYSE:GEO) by 26.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,370 shares of the real estate investment trust’s stock after selling 9,716 shares during the period. PNC Financial Services Group Inc.’s holdings in The GEO Group were worth $738,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of The GEO Group by 12.0% during the 3rd quarter. Victory Capital Management Inc. now owns 195,376 shares of the real estate investment trust’s stock valued at $2,511,000 after purchasing an additional 20,962 shares during the period. Chesapeake Capital Corp IL increased its stake in The GEO Group by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 4,800 shares in the last quarter. Quest Partners LLC bought a new stake in The GEO Group during the third quarter valued at about $609,000. Jennison Associates LLC purchased a new position in shares of The GEO Group in the third quarter valued at about $630,000. Finally, Intech Investment Management LLC bought a new position in shares of The GEO Group in the third quarter worth about $1,279,000. Hedge funds and other institutional investors own 76.10% of the company’s stock.

The GEO Group Price Performance

NYSE:GEO opened at $26.15 on Tuesday. The business’s 50-day moving average is $28.77 and its 200 day moving average is $23.34. The GEO Group, Inc. has a 12 month low of $11.75 and a 12 month high of $36.46. The company has a market capitalization of $3.67 billion, a P/E ratio of 90.17, a P/E/G ratio of 2.11 and a beta of 0.91. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.25.

The GEO Group (NYSE:GEO) last issued its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.08). The GEO Group had a return on equity of 9.20% and a net margin of 2.00%. The firm had revenue of $607.72 million for the quarter, compared to analysts’ expectations of $607.45 million. On average, equities research analysts forecast that The GEO Group, Inc. will post 0.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GEO shares. Wedbush reissued an “outperform” rating on shares of The GEO Group in a research note on Tuesday, December 17th. Noble Financial upgraded shares of The GEO Group from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research report on Wednesday, March 5th. Finally, UBS Group set a $32.00 target price on shares of The GEO Group in a research report on Wednesday, March 5th.

The GEO Group Company Profile

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.