Bank of America Corp DE Has $5.83 Million Stock Holdings in Geo Group Inc (The) $GEO

Bank of America Corp DE lifted its stake in shares of Geo Group Inc (The) (NYSE:GEO) by 109.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 346,779 shares of the real estate investment trust’s stock after purchasing an additional 181,140 shares during the quarter. Bank of America Corp DE’s holdings in Geo Group were worth $5,829,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Geneos Wealth Management Inc. grew its stake in Geo Group by 245.1% during the second quarter. Geneos Wealth Management Inc. now owns 1,101 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 782 shares in the last quarter. Bessemer Group Inc. raised its position 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 valued at $29,000 after buying an additional 910 shares in the last quarter. IFP Advisors Inc bought a new stake in shares of Geo Group during the 4th quarter worth approximately $30,000. NewEdge Advisors LLC lifted its holdings in shares of Geo Group by 81.9% during the 1st quarter. NewEdge Advisors LLC now owns 1,864 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 839 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Geo Group by 22.7% during the 1st quarter. Public Employees Retirement System of Ohio now owns 3,866 shares of the real estate investment trust’s stock worth $65,000 after acquiring an additional 715 shares in the last quarter. Institutional investors own 76.10% of the company’s stock.

Geo Group Stock Performance

NYSE GEO opened at $32.73 on Thursday. The firm’s fifty day moving average price is $30.55 and its two-hundred day moving average price is $23.10. The stock has a market cap of $4.31 billion, a PE ratio of 15.44, a PEG ratio of 1.76 and a beta of 0.79. Geo Group Inc has a fifty-two week low of $12.51 and a fifty-two week high of $33.15. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.65 and a current ratio of 1.65.

Geo Group (NYSE:GEO) last announced its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. Geo Group had a return on equity of 10.42% and a net margin of 10.31%.The company had revenue of $732.07 million during the quarter, compared to analysts’ expectations of $721.43 million. During the same period in the prior year, the company earned $0.22 EPS. Geo Group’s revenue was up 15.1% compared to the same quarter last year. On average, equities analysts expect that Geo Group Inc will post 1.31 EPS for the current fiscal year.

Insider Transactions at Geo Group

In other Geo Group news, VP Matthew Albence sold 10,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $31.69, for a total value of $316,900.00. Following the completion of the transaction, the vice president directly owned 99,399 shares in the company, valued at approximately $3,149,954.31. This trade represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ronald A. Brack sold 7,000 shares of Geo Group stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $32.00, for a total value of $224,000.00. Following the sale, the insider directly owned 71,614 shares in the company, valued at $2,291,648. The trade was a 8.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GEO. Wall Street Zen cut shares of Geo Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. JonesTrading raised their target price on Geo Group from $33.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings raised Geo Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 9th. Zacks Research upgraded Geo Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Finally, Northland Securities boosted their price target on Geo Group from $30.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, June 26th. One equities 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $40.00.

About Geo Group

The GEO Group (NYSE:GEO) is a leading provider of correctional, detention and community reentry services to government agencies around the world. As a real estate investment trust, the company specializes in the design, financing, development and operation of secure facilities for adult and juvenile offenders, immigration detainees and individuals requiring mental health treatment or substance abuse programming. GEO’s integrated service model also encompasses electronic monitoring, rehabilitative programming and post-release supervision aimed at reducing recidivism and enhancing public safety.

GEO’s portfolio spans a range of facility types, including medium- and maximum-security correctional institutions, residential reentry centers, mental health treatment units and immigration detention centers.