The GEO Group (NYSE:GEO) Sees Large Volume Increase

Shares of The GEO Group, Inc. (NYSE:GEO) saw strong trading volume on Monday . 3,281,740 shares traded hands during mid-day trading, an increase of 52% from the previous session’s volume of 2,152,519 shares.The stock last traded at $7.51 and had previously closed at $7.06.

Analyst Ratings Changes

A number of brokerages have recently commented on GEO. StockNews.com initiated coverage on The GEO Group in a research report on Thursday, August 17th. They set a “hold” rating for the company. Wedbush raised their price objective on shares of The GEO Group from $11.00 to $12.50 and gave the stock an “outperform” rating in a report on Thursday, August 10th.

The GEO Group Trading Up 2.3 %

The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.50. The firm has a market cap of $910.46 million, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 0.84 and a beta of 0.71. The business’s fifty day moving average is $7.24 and its two-hundred day moving average is $7.67.

The GEO Group (NYSE:GEO) last issued its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $593.89 million during the quarter, compared to analyst estimates of $588.27 million. The GEO Group had a net margin of 5.63% and a return on equity of 11.65%. During the same quarter last year, the business posted $0.69 earnings per share. Equities analysts anticipate that The GEO Group, Inc. will post 0.88 earnings per share for the current fiscal year.

Institutional Trading of The GEO Group

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in shares of The GEO Group by 9.1% during the 1st quarter. BlackRock Inc. now owns 19,928,438 shares of the real estate investment trust’s stock worth $157,235,000 after purchasing an additional 1,657,703 shares during the last quarter. Millennium Management LLC increased its position in The GEO Group by 45.3% in the 4th quarter. Millennium Management LLC now owns 4,340,088 shares of the real estate investment trust’s stock valued at $47,524,000 after acquiring an additional 1,352,829 shares during the period. Intrinsic Edge Capital Management LLC increased its position in The GEO Group by 69.0% in the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 2,354,678 shares of the real estate investment trust’s stock valued at $16,859,000 after acquiring an additional 960,968 shares during the period. Ranger Global Real Estate Advisors LLC acquired a new position in The GEO Group in the 4th quarter valued at approximately $6,615,000. Finally, Renaissance Technologies LLC increased its position in The GEO Group by 125.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,452,391 shares of the real estate investment trust’s stock valued at $9,600,000 after acquiring an additional 809,000 shares during the period. Institutional investors and hedge funds own 74.60% of the company’s stock.

About The GEO Group

The GEO Group, Inc (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO's diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care.