Hsbc Holdings PLC bought a new position in Geo Group Inc (The) (NYSE:GEO – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,006,518 shares of the real estate investment trust’s stock, valued at approximately $118,673,000.
A number of other hedge funds have also added to or reduced their stakes in GEO. BlackRock Inc. bought a new stake in Geo Group during the second quarter valued at approximately $570,744,000. Rubric Capital Management LP raised its position in Geo Group by 139.5% in the third quarter. Rubric Capital Management LP now owns 2,986,915 shares of the real estate investment trust’s stock worth $61,202,000 after acquiring an additional 1,739,522 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Geo Group during the 2nd quarter worth $47,605,000. UBS Group AG boosted its stake in shares of Geo Group by 56.5% during the 3rd quarter. UBS Group AG now owns 3,603,288 shares of the real estate investment trust’s stock worth $73,831,000 after acquiring an additional 1,300,139 shares during the last quarter. Finally, Cooper Creek Partners Management LLC grew its position in shares of Geo Group by 32.7% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 4,974,772 shares of the real estate investment trust’s stock valued at $101,933,000 after acquiring an additional 1,224,847 shares during the period. 76.10% of the stock is currently owned by hedge funds and other institutional investors.
Geo Group Price Performance
NYSE:GEO opened at $32.20 on Wednesday. The business’s 50-day simple moving average is $30.47 and its two-hundred day simple moving average is $22.98. Geo Group Inc has a 52 week low of $12.51 and a 52 week high of $33.15. The stock has a market cap of $4.24 billion, a PE ratio of 15.19, a P/E/G ratio of 1.76 and a beta of 0.79. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.00.
Analyst Upgrades and Downgrades
GEO has been the topic of a number of recent research reports. Wall Street Zen cut Geo Group from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. JonesTrading lifted their price objective on Geo Group from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. UBS Group reiterated an “outperform” rating on shares of Geo Group in a research note on Monday, August 10th. Noble Financial restated an “outperform” rating on shares of Geo Group in a research note on Monday, August 10th. Finally, Northland Securities upped their price target on shares of Geo Group from $30.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $40.00.
View Our Latest Report on Geo Group
Insiders Place Their Bets
In other Geo Group news, VP Matthew Albence sold 10,000 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $31.69, for a total value of $316,900.00. Following the sale, the vice president owned 99,399 shares in the company, valued at $3,149,954.31. The trade was a 9.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ronald A. Brack sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $32.00, for a total value of $224,000.00. Following the transaction, the insider owned 71,614 shares of the company’s stock, valued at approximately $2,291,648. The trade was a 8.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.98% of the company’s stock.
Geo Group Profile
The GEO Group (NYSE:GEO) is a leading provider of correctional, detention and community reentry services to government agencies around the world. As a real estate investment trust, the company specializes in the design, financing, development and operation of secure facilities for adult and juvenile offenders, immigration detainees and individuals requiring mental health treatment or substance abuse programming. GEO’s integrated service model also encompasses electronic monitoring, rehabilitative programming and post-release supervision aimed at reducing recidivism and enhancing public safety.
GEO’s portfolio spans a range of facility types, including medium- and maximum-security correctional institutions, residential reentry centers, mental health treatment units and immigration detention centers.
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