Geo Group Inc. (GEO) Bonds Trading 0.8% Lower
An issue of Geo Group Inc. (NYSE:GEO) bonds fell 0.8% against their face value during trading on Thursday. The debt issue has a 5.875% coupon and will mature on October 15, 2024. The debt is now trading at $86.00 and was trading at $89.75 last week. Price changes in a company’s bonds in credit markets often predict parallel changes in its share price.
Several equities research analysts have recently commented on the company. Canaccord Genuity restated a “buy” rating and set a $28.00 price target on shares of Geo Group in a research note on Friday. SunTrust Banks Inc. cut their price target on Geo Group from $38.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, September 1st. TheStreet cut Geo Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 18th. Finally, Zacks Investment Research cut Geo Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 10th.
Geo Group Inc. (NYSE:GEO) traded up 2.19% on Friday, reaching $23.78. The company’s stock had a trading volume of 971,644 shares. The firm has a 50-day moving average price of $23.62 and a 200 day moving average price of $30.87. The firm has a market capitalization of $1.76 billion, a P/E ratio of 12.79 and a beta of 0.97. Geo Group Inc. has a 52-week low of $16.26 and a 52-week high of $35.14.
Geo Group (NYSE:GEO) last issued its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The company earned $548.35 million during the quarter, compared to analyst estimates of $547.23 million. Geo Group had a return on equity of 14.20% and a net margin of 6.80%. The business’s revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. Equities analysts anticipate that Geo Group Inc. will post $2.89 earnings per share for the current fiscal year.
In other news, SVP Ann M. Schlarb bought 1,500 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was bought at an average price of $19.51 per share, for a total transaction of $29,265.00. Following the transaction, the senior vice president now owns 11,464 shares in the company, valued at $223,662.64. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 2.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Menta Capital LLC purchased a new position in shares of Geo Group during the first quarter valued at approximately $285,000. Baker Ellis Asset Management LLC raised its position in shares of Geo Group by 1.1% in the first quarter. Baker Ellis Asset Management LLC now owns 10,105 shares of the real estate investment trust’s stock valued at $350,000 after buying an additional 110 shares during the last quarter. BlackRock Japan Co. Ltd raised its position in shares of Geo Group by 0.4% in the first quarter. BlackRock Japan Co. Ltd now owns 3,907 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 14 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Geo Group by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,152,391 shares of the real estate investment trust’s stock valued at $74,623,000 after buying an additional 16,809 shares during the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of Geo Group by 0.8% in the first quarter. BlackRock Fund Advisors now owns 5,094,059 shares of the real estate investment trust’s stock valued at $176,611,000 after buying an additional 41,070 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.
Geo Group 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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