BlackRock Inc. Sells 19,718 Shares of The GEO Group, Inc. (NYSE:GEO)

BlackRock Inc. trimmed its position in shares of The GEO Group, Inc. (NYSE:GEO) by 0.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,920,769 shares of the real estate investment trust’s stock after selling 19,718 shares during the quarter. BlackRock Inc. owned 0.15% of The GEO Group worth $127,596,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its position in shares of The GEO Group by 260.1% during the second quarter. Meeder Asset Management Inc. now owns 5,401 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 3,901 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in The GEO Group in the 1st quarter valued at $42,000. PNC Financial Services Group Inc. lifted its position in The GEO Group by 64.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,670 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 3,011 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in The GEO Group in the 1st quarter valued at $71,000. Finally, Tuttle Tactical Management bought a new stake in The GEO Group in the 2nd quarter valued at $78,000. 79.79% of the stock is currently owned by institutional investors.

Shares of GEO stock opened at $8.30 on Thursday. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 2.99. The GEO Group, Inc. has a 1 year low of $4.96 and a 1 year high of $11.48. The firm’s fifty day moving average price is $7.69 and its two-hundred day moving average price is $6.92. The firm has a market capitalization of $1.02 billion, a P/E ratio of 7.41, a PEG ratio of 0.29 and a beta of 0.71.

The GEO Group (NYSE:GEO) last issued its quarterly earnings results on Wednesday, August 4th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.14. The GEO Group had a net margin of 6.25% and a return on equity of 16.99%. The firm had revenue of $565.40 million for the quarter, compared to analyst estimates of $561.18 million. During the same period in the previous year, the business earned $0.35 EPS. The company’s revenue was down 3.8% compared to the same quarter last year. As a group, equities research analysts forecast that The GEO Group, Inc. will post 2.57 EPS for the current fiscal year.

Several equities research analysts recently commented on GEO shares. Zacks Investment Research cut shares of The GEO Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 6th. TheStreet raised shares of The GEO Group from a “d+” rating to a “c-” rating in a research report on Thursday, July 15th.

The GEO Group Company Profile

The GEO Group, Inc is a real estate investment trust, which specializes in the ownership, lease, and management of correctional, detention, and re-entry facilities. It operates through the following segments: U.S. Secure Services; GEO Care; International Services; and Facility Construction and Design.

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

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