Bank of America Corp DE Sells 78,282 Shares of The GEO Group, Inc. (NYSE:GEO)

Bank of America Corp DE reduced its position in The GEO Group, Inc. (NYSE:GEO) by 22.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 274,296 shares of the real estate investment trust’s stock after selling 78,282 shares during the quarter. Bank of America Corp DE owned 0.20% of The GEO Group worth $7,675,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. NewEdge Advisors LLC purchased a new stake in The GEO Group in the fourth quarter worth about $29,000. SRS Capital Advisors Inc. raised its stake in The GEO Group by 160.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,170 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 720 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in The GEO Group by 149.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,527 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 915 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in The GEO Group by 182.6% in the fourth quarter. Jones Financial Companies Lllp now owns 3,148 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 2,034 shares in the last quarter. Finally, Rothschild Investment LLC raised its holdings in shares of The GEO Group by 6,800.0% in the fourth quarter. Rothschild Investment LLC now owns 4,140 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 4,080 shares during the last quarter. 76.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Noble Financial reiterated an “outperform” rating on shares of The GEO Group in a research note on Monday, March 24th. Jones Trading decreased their price target on The GEO Group from $55.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, May 8th. UBS Group set a $35.00 price target on shares of The GEO Group in a research report on Monday, March 24th. Wedbush reaffirmed an “outperform” rating and issued a $36.00 price objective (down previously from $46.00) on shares of The GEO Group in a report on Thursday, May 8th. Finally, Wall Street Zen upgraded The GEO Group from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.00.

Insider Activity

In other The GEO Group news, EVP Shayn P. March sold 7,500 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $30.00, for a total value of $225,000.00. Following the completion of the transaction, the executive vice president now owns 67,469 shares in the company, valued at $2,024,070. The trade was a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.30% of the company’s stock.

The GEO Group Trading Down 0.8%

Shares of GEO opened at $26.85 on Monday. The stock has a market cap of $3.80 billion, a PE ratio of 92.59, a price-to-earnings-growth ratio of 2.11 and a beta of 0.80. The firm’s fifty day moving average is $28.62 and its two-hundred day moving average is $28.39. The GEO Group, Inc. has a 52-week low of $11.75 and a 52-week high of $36.46. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.25.

The GEO Group (NYSE:GEO) last issued its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). The GEO Group had a return on equity of 9.20% and a net margin of 2.00%. The firm had revenue of $604.65 million for the quarter, compared to analysts’ expectations of $611.81 million. During the same period last year, the firm earned $0.14 earnings per share. Research analysts forecast that The GEO Group, Inc. will post 0.83 earnings per share for the current fiscal year.

The GEO Group Profile

The GEO Group, Inc (NYSE: GEO) engages in ownership, leasing, and management of secure facilities, processing centers, and community-based reentry facilities in the United States, Australia, the United Kingdom, and South Africa. The company also provides secure facility management services, including the provision of security, administrative, rehabilitation, education, and food services; reentry services, such as temporary housing, programming, employment assistance, and other services; electronic monitoring and supervision services; and transportation services; as well as designs, constructs, and finances new facilities through projects.