Commonwealth Equity Services LLC Sells 1,173 Shares of The GEO Group, Inc. (NYSE:GEO)

Commonwealth Equity Services LLC cut its holdings in shares of The GEO Group, Inc. (NYSE:GEO) by 3.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,530 shares of the real estate investment trust’s stock after selling 1,173 shares during the period. Commonwealth Equity Services LLC’s holdings in The GEO Group were worth $553,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. raised its holdings in shares of The GEO Group by 399.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,852 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 3,081 shares in the last quarter. Tidemark LLC acquired a new position in The GEO Group during the fourth quarter worth about $71,000. Innealta Capital LLC bought a new position in shares of The GEO Group in the second quarter worth about $140,000. Avantax Advisory Services Inc. acquired a new stake in shares of The GEO Group in the 4th quarter valued at approximately $114,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of The GEO Group by 568.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,326 shares of the real estate investment trust’s stock valued at $160,000 after purchasing an additional 9,632 shares during the last quarter. Institutional investors and hedge funds own 76.10% of the company’s stock.

The GEO Group Stock Performance

NYSE:GEO opened at $12.37 on Friday. The stock’s 50-day moving average is $13.94 and its 200-day moving average is $13.97. The GEO Group, Inc. has a 1-year low of $7.38 and a 1-year high of $18.05. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36. The stock has a market cap of $1.69 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 1.45 and a beta of 0.66.

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

Analysts Set New Price Targets

GEO has been the subject of several research reports. Wedbush reissued an “outperform” rating and issued a $17.00 price objective on shares of The GEO Group in a research note on Thursday. StockNews.com cut The GEO Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th.

Insider Activity at The GEO Group

In related news, Chairman George C. Zoley bought 100,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $12.22 per share, with a total value of $1,222,000.00. Following the acquisition, the chairman now owns 3,800,904 shares of the company’s stock, valued at $46,447,046.88. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, Chairman George C. Zoley bought 100,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $12.22 per share, with a total value of $1,222,000.00. Following the transaction, the chairman now owns 3,800,904 shares of the company’s stock, valued at approximately $46,447,046.88. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Shayn P. March sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $17.50, for a total transaction of $43,750.00. Following the completion of the transaction, the executive vice president now owns 65,330 shares in the company, valued at approximately $1,143,275. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.

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.