Symons Capital Management Inc. Sells 29,656 Shares of The GEO Group Inc (NYSE:GEO)

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Symons Capital Management Inc. decreased its holdings in shares of The GEO Group Inc (NYSE:GEO) by 9.6% in the third quarter, HoldingsChannel reports. The fund owned 277,864 shares of the real estate investment trust’s stock after selling 29,656 shares during the quarter. The GEO Group makes up about 2.2% of Symons Capital Management Inc.’s portfolio, making the stock its 23rd largest holding. Symons Capital Management Inc.’s holdings in The GEO Group were worth $4,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of GEO. SG Americas Securities LLC boosted its holdings in The GEO Group by 36.6% in the 3rd quarter. SG Americas Securities LLC now owns 108,820 shares of the real estate investment trust’s stock worth $1,887,000 after buying an additional 29,138 shares during the period. Mackay Shields LLC boosted its holdings in The GEO Group by 8.6% in the 3rd quarter. Mackay Shields LLC now owns 240,372 shares of the real estate investment trust’s stock worth $4,168,000 after buying an additional 19,000 shares during the period. ARP Americas LP boosted its holdings in The GEO Group by 57.8% in the 3rd quarter. ARP Americas LP now owns 150,654 shares of the real estate investment trust’s stock worth $2,612,000 after buying an additional 55,200 shares during the period. Russell Investments Group Ltd. boosted its holdings in The GEO Group by 8.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,006,996 shares of the real estate investment trust’s stock worth $34,530,000 after buying an additional 158,521 shares during the period. Finally, 6 Meridian boosted its holdings in The GEO Group by 36.5% in the 3rd quarter. 6 Meridian now owns 30,390 shares of the real estate investment trust’s stock worth $527,000 after buying an additional 8,126 shares during the period. 87.24% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on the stock. TheStreet downgraded shares of The GEO Group from a “b-” rating to a “c+” rating in a report on Thursday, July 25th. ValuEngine raised shares of The GEO Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The GEO Group has a consensus rating of “Buy” and a consensus price target of $25.00.

In other The GEO Group news, Director Anne N. Foreman sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $17.24, for a total value of $137,920.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian Evans sold 3,468 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $17.45, for a total transaction of $60,516.60. Following the completion of the sale, the chief financial officer now owns 90,710 shares in the company, valued at approximately $1,582,889.50. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

GEO stock traded up $0.17 during mid-day trading on Friday, hitting $15.17. The company had a trading volume of 682,525 shares, compared to its average volume of 814,575. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 6.14 and a beta of 1.10. The GEO Group Inc has a 12-month low of $14.68 and a 12-month high of $24.03. The company has a quick ratio of 1.30, a current ratio of 1.27 and a debt-to-equity ratio of 2.75. The company has a 50-day moving average price of $16.00 and a 200 day moving average price of $18.74.

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 25th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 12.66%. The ex-dividend date was Thursday, October 24th. The GEO Group’s payout ratio is currently 77.73%.

The GEO Group Profile

The GEO Group, Inc (NYSE: GEO) is the first fully integrated equity real estate investment trust specializing in the design, financing, development, and operation of correctional, detention, and community reentry facilities around the globe. GEO is the world's leading provider of diversified correctional, detention, community reentry, and electronic monitoring services to government agencies worldwide with operations in the United States, Australia, South Africa, and the United Kingdom.

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Want to see what other hedge funds are holding GEO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The GEO Group Inc (NYSE:GEO).

Institutional Ownership by Quarter for The GEO Group (NYSE:GEO)

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