Bank of New York Mellon Corp Raises Stake in The GEO Group, Inc. (NYSE:GEO)

Bank of New York Mellon Corp boosted its position in The GEO Group, Inc. (NYSE:GEO) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,151,071 shares of the real estate investment trust’s stock after buying an additional 36,763 shares during the period. Bank of New York Mellon Corp owned approximately 0.91% of The GEO Group worth $8,242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of GEO. Advisory Services Network LLC boosted its position in The GEO Group by 203.2% in the first quarter. Advisory Services Network LLC now owns 4,326 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 2,899 shares during the last quarter. Quarry LP purchased a new stake in The GEO Group in the 1st quarter worth approximately $35,000. Clear Street Markets LLC purchased a new stake in The GEO Group in the 4th quarter worth approximately $40,000. Captrust Financial Advisors purchased a new stake in The GEO Group in the 2nd quarter worth approximately $44,000. Finally, Natixis purchased a new stake in The GEO Group in the 4th quarter worth approximately $55,000. Hedge funds and other institutional investors own 74.60% of the company’s stock.

The GEO Group Trading Up 0.4 %

Shares of GEO stock opened at $9.56 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.14 and a beta of 0.62. The stock has a 50 day simple moving average of $8.48 and a 200-day simple moving average of $7.81. The GEO Group, Inc. has a 1-year low of $6.94 and a 1-year high of $12.44.

The GEO Group (NYSE:GEO) last posted its quarterly earnings data on Tuesday, November 7th. The real estate investment trust reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The GEO Group had a return on equity of 10.09% and a net margin of 5.10%. The firm had revenue of $602.79 million during the quarter, compared to the consensus estimate of $595.31 million. During the same period in the prior year, the company earned $0.60 EPS. On average, equities research analysts expect that The GEO Group, Inc. will post 0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on GEO shares. StockNews.com started coverage on The GEO Group in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Northland Securities initiated coverage on The GEO Group in a research note on Monday, October 2nd. They set an “outperform” rating and a $14.00 target price for the company. Finally, Wedbush upped their target price on The GEO Group from $12.50 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th.

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.