Seven Eight Capital LP Raises Stock Holdings in The GEO Group, Inc. (NYSE:GEO)

Seven Eight Capital LP lifted its holdings in shares of The GEO Group, Inc. (NYSE:GEO) by 27.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,673 shares of the real estate investment trust’s stock after purchasing an additional 43,177 shares during the quarter. Seven Eight Capital LP owned 0.16% of The GEO Group worth $1,568,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Arizona State Retirement System grew its holdings in shares of The GEO Group by 3.8% during the fourth quarter. Arizona State Retirement System now owns 35,015 shares of the real estate investment trust’s stock worth $383,000 after purchasing an additional 1,292 shares in the last quarter. Samalin Investment Counsel LLC boosted its stake in The GEO Group by 3.7% in the first quarter. Samalin Investment Counsel LLC now owns 41,690 shares of the real estate investment trust’s stock worth $329,000 after buying an additional 1,500 shares in the last quarter. Raymond James & Associates boosted its stake in The GEO Group by 3.4% in the first quarter. Raymond James & Associates now owns 49,560 shares of the real estate investment trust’s stock worth $328,000 after buying an additional 1,650 shares in the last quarter. Legal & General Group Plc boosted its stake in The GEO Group by 0.5% in the second quarter. Legal & General Group Plc now owns 356,528 shares of the real estate investment trust’s stock worth $2,353,000 after buying an additional 1,732 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its stake in The GEO Group by 1.6% in the first quarter. Yousif Capital Management LLC now owns 111,484 shares of the real estate investment trust’s stock worth $737,000 after buying an additional 1,750 shares in the last quarter. Hedge funds and other institutional investors own 74.60% of the company’s stock.

The GEO Group Stock Performance

Shares of GEO stock opened at $7.06 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.30 and a current ratio of 1.30. The GEO Group, Inc. has a fifty-two week low of $6.94 and a fifty-two week high of $12.44. The stock has a 50 day moving average price of $7.24 and a two-hundred day moving average price of $7.68. The company has a market capitalization of $890.29 million, a P/E ratio of 7.59, a PEG ratio of 0.84 and a beta of 0.71.

The GEO Group (NYSE:GEO) last announced its quarterly earnings data on Wednesday, August 9th. The real estate investment trust reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. The GEO Group had a return on equity of 11.65% and a net margin of 5.63%. The firm had revenue of $593.89 million during the quarter, compared to the consensus estimate of $588.27 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. Analysts expect that The GEO Group, Inc. will post 0.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com assumed coverage on The GEO Group in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Wedbush upped their target price on The GEO Group from $11.00 to $12.50 and gave the stock an “outperform” rating in a research note on Thursday, August 10th.

Insider Buying and Selling at The GEO Group

In other The GEO Group news, Director Scott Michael Kernan sold 4,800 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $7.50, for a total value of $36,000.00. Following the completion of the sale, the director now owns 17,896 shares in the company, valued at $134,220. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.30% of the company’s stock.

About The GEO Group

The GEO Group, Inc (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO's diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care.