Synovus Financial Corp grew its holdings in shares of Geo Group Inc (The) (NYSE:GEO) by 109.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,707 shares of the real estate investment trust’s stock after purchasing an additional 4,019 shares during the quarter. Synovus Financial Corp’s holdings in Geo Group Inc (The) were worth $227,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in Geo Group Inc (The) during the first quarter worth about $125,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Geo Group Inc (The) by 69.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,661 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 1,909 shares during the period. Meeder Asset Management Inc. bought a new position in Geo Group Inc (The) during the first quarter worth about $196,000. Bank of Montreal Can bought a new position in Geo Group Inc (The) during the second quarter worth about $199,000. Finally, KCG Holdings Inc. bought a new position in Geo Group Inc (The) during the first quarter worth about $201,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.
Shares of Geo Group Inc (NYSE:GEO) opened at 27.36 on Monday. The stock has a market capitalization of $3.34 billion, a P/E ratio of 19.19 and a beta of 1.53. The stock has a 50 day moving average of $27.41 and a 200-day moving average of $30.11. Geo Group Inc has a one year low of $14.17 and a one year high of $34.32.
Geo Group Inc (The) (NYSE:GEO) last announced its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.15. The company had revenue of $570.10 million for the quarter, compared to the consensus estimate of $584.69 million. Geo Group Inc (The) had a net margin of 7.32% and a return on equity of 15.84%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. Equities analysts forecast that Geo Group Inc will post $1.27 earnings per share for the current year.
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In related news, Director Anne N. Foreman sold 17,340 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $26.67, for a total transaction of $462,457.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Norman A. Carlson sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $25.77, for a total value of $257,700.00. Following the transaction, the director now owns 39,779 shares of the company’s stock, valued at $1,025,104.83. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
GEO has been the topic of a number of recent analyst reports. Canaccord Genuity set a $35.00 price target on shares of Geo Group Inc (The) and gave the stock a “buy” rating in a report on Monday, August 7th. ValuEngine raised shares of Geo Group Inc (The) from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research downgraded shares of Geo Group Inc (The) from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. J P Morgan Chase & Co initiated coverage on shares of Geo Group Inc (The) in a report on Friday, July 14th. They issued an “overweight” rating and a $35.00 price target on the stock. Finally, BidaskClub downgraded shares of Geo Group Inc (The) from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $33.83.
Geo Group Inc (The) Company Profile
The GEO Group, Inc is a real estate investment trust (REIT) specializing in the ownership, leasing and management of correctional, detention and re-entry facilities and the provision of community-based services and youth services in the United States, Australia, South Africa, the United Kingdom and Canada.
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