Bank of New York Mellon Corp Has $24.71 Million Stock Position in The GEO Group, Inc. (NYSE:GEO)

Bank of New York Mellon Corp decreased its stake in The GEO Group, Inc. (NYSE:GEO) by 10.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 882,972 shares of the real estate investment trust’s stock after selling 106,367 shares during the quarter. Bank of New York Mellon Corp owned 0.63% of The GEO Group worth $24,706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of GEO. Rothschild Investment LLC increased its position in shares of The GEO Group by 6,800.0% during the fourth quarter. Rothschild Investment LLC now owns 4,140 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 4,080 shares during the period. Allianz Asset Management GmbH lifted its stake in The GEO Group by 5.8% in the fourth quarter. Allianz Asset Management GmbH now owns 1,491,209 shares of the real estate investment trust’s stock valued at $41,724,000 after buying an additional 82,341 shares during the period. Handelsbanken Fonder AB lifted its stake in The GEO Group by 20.0% in the fourth quarter. Handelsbanken Fonder AB now owns 27,600 shares of the real estate investment trust’s stock valued at $772,000 after buying an additional 4,600 shares during the period. Pinnbrook Capital Management LP acquired a new stake in shares of The GEO Group during the fourth quarter worth about $4,837,000. Finally, Truist Financial Corp acquired a new stake in shares of The GEO Group during the fourth quarter worth about $215,000. Institutional investors and hedge funds own 76.10% of the company’s stock.

The GEO Group Stock Down 5.9 %

Shares of NYSE:GEO opened at $24.02 on Monday. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 82.82, a P/E/G ratio of 2.11 and a beta of 0.91. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.10 and a quick ratio of 1.10. The business’s 50-day moving average is $29.16 and its 200-day moving average is $22.85. The GEO Group, Inc. has a 1 year low of $11.75 and a 1 year high of $36.46.

The GEO Group (NYSE:GEO) last posted its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $607.45 million. Equities research analysts predict that The GEO Group, Inc. will post 0.83 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on GEO. Noble Financial upgraded The GEO Group from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a report on Wednesday, March 5th. Wedbush reiterated an “outperform” rating on shares of The GEO Group in a research note on Tuesday, December 17th.

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.