Ballast Asset Management LP Sells 18,835 Shares of Geo Group Inc (The) $GEO

Ballast Asset Management LP lowered its stake in Geo Group Inc (The) (NYSE:GEO) by 9.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 181,865 shares of the real estate investment trust’s stock after selling 18,835 shares during the period. Geo Group accounts for approximately 2.4% of Ballast Asset Management LP’s holdings, making the stock its 14th largest holding. Ballast Asset Management LP’s holdings in Geo Group were worth $5,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in Geo Group by 6.6% during the third quarter. GAMMA Investing LLC now owns 10,098 shares of the real estate investment trust’s stock valued at $308,000 after purchasing an additional 629 shares during the period. Parallel Advisors LLC lifted its stake in shares of Geo Group by 165.5% in the 3rd quarter. Parallel Advisors LLC now owns 1,017 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 634 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Geo Group by 22.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 3,866 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 715 shares during the last quarter. Kestra Advisory Services LLC lifted its stake in shares of Geo Group by 2.4% in the 1st quarter. Kestra Advisory Services LLC now owns 30,462 shares of the real estate investment trust’s stock valued at $512,000 after purchasing an additional 727 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Geo Group by 111.9% in the 1st quarter. Bessemer Group Inc. now owns 1,723 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 910 shares during the period. 76.10% of the stock is owned by institutional investors.

Insider Activity at Geo Group

In related news, VP Matthew Albence sold 11,797 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $31.45, for a total value of $371,015.65. Following the completion of the sale, the vice president owned 87,602 shares in the company, valued at approximately $2,755,082.90. The trade was a 11.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ronald A. Brack sold 7,000 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $32.00, for a total value of $224,000.00. Following the completion of the transaction, the insider directly owned 71,614 shares in the company, valued at approximately $2,291,648. This trade represents a 8.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 28,797 shares of company stock valued at $911,916 in the last ninety days. Insiders own 4.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GEO shares. Noble Financial reiterated an “outperform” rating on shares of Geo Group in a report on Monday, August 10th. JonesTrading increased their price target on Geo Group from $40.00 to $42.75 and gave the company a “buy” rating in a report on Thursday, November 5th. Zacks Research upgraded Geo Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. UBS Group restated a “buy” rating on shares of Geo Group in a research report on Tuesday, October 6th. Finally, Wall Street Zen lowered shares of Geo Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $41.38.

Geo Group Trading Up 7.9%

GEO stock opened at $30.00 on Tuesday. The company has a market capitalization of $3.97 billion, a PE ratio of 24.00, a P/E/G ratio of 1.48 and a beta of 0.78. Geo Group Inc has a 12 month low of $12.51 and a 12 month high of $33.17. The firm’s 50-day moving average is $29.98 and its 200 day moving average is $24.55. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.65 and a quick ratio of 1.65.

Geo Group (NYSE:GEO) last released its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. The company had revenue of $761.06 million during the quarter, compared to analysts’ expectations of $770.87 million. Geo Group had a net margin of 10.31% and a return on equity of 10.42%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. On average, research analysts anticipate that Geo Group Inc will post 1.42 EPS for the current year.

Geo Group Profile

The GEO Group, Inc provides government services focused on corrections, detention and community-based supervision. Its services include operating secure facilities and processing centers, managing community reentry programs, and providing electronic monitoring and supervision technology for individuals in the community.

The company serves federal, state and local government agencies, primarily in the United States. Its work also includes related services such as secure transportation and support programs for people transitioning from incarceration back into the community.

Founded in 1984 as Wackenhut Corrections Corporation, the company adopted the GEO Group name in 2003.