PNC Financial Services Group Inc. Boosts Stake in The GEO Group, Inc. (NYSE:GEO)

PNC Financial Services Group Inc. increased its position in The GEO Group, Inc. (NYSE:GEO) by 234.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 23,735 shares of the real estate investment trust’s stock after purchasing an additional 16,633 shares during the period. PNC Financial Services Group Inc.’s holdings in The GEO Group were worth $257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GEO. GAMMA Investing LLC acquired a new position in The GEO Group in the 4th quarter valued at about $48,000. Tidemark LLC acquired a new position in The GEO Group during the 4th quarter worth approximately $71,000. Byrne Asset Management LLC raised its stake in shares of The GEO Group by 47.8% during the 4th quarter. Byrne Asset Management LLC now owns 6,800 shares of the real estate investment trust’s stock worth $76,000 after buying an additional 2,200 shares in the last quarter. Avantax Advisory Services Inc. purchased a new position in shares of The GEO Group during the 4th quarter worth approximately $114,000. Finally, Handelsbanken Fonder AB raised its stake in shares of The GEO Group by 4.3% during the 4th quarter. Handelsbanken Fonder AB now owns 21,900 shares of the real estate investment trust’s stock worth $237,000 after buying an additional 900 shares in the last quarter. 76.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wedbush cut their target price on The GEO Group from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th.

The GEO Group Stock Performance

Shares of GEO stock opened at $15.04 on Tuesday. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 1.43 and a beta of 0.64. The stock has a 50 day simple moving average of $13.85 and a 200-day simple moving average of $12.87. The GEO Group, Inc. has a 12-month low of $6.94 and a 12-month high of $16.31. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.31.

The GEO Group (NYSE:GEO) last released its quarterly earnings data 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 GEO Group had a net margin of 4.51% and a return on equity of 8.88%. The firm had revenue of $605.67 million during the quarter, compared to analysts’ expectations of $603.84 million. During the same period in the previous year, the business earned $0.22 earnings per share. On average, equities analysts forecast that The GEO Group, Inc. will post 1.01 EPS for the current year.

Insider Activity at The GEO Group

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

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.