Hsbc Holdings PLC Purchases New Position in Geo Group Inc (The) $GEO

Hsbc Holdings PLC purchased a new stake in shares of Geo Group Inc (The) (NYSE:GEO) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,006,518 shares of the real estate investment trust’s stock, valued at approximately $118,673,000. Hsbc Holdings PLC owned about 3.04% of Geo Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Geneos Wealth Management Inc. increased its stake in shares of Geo Group by 245.1% during the second quarter. Geneos Wealth Management Inc. now owns 1,101 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 782 shares during the period. Bessemer Group Inc. boosted its holdings in Geo Group by 111.9% in the first quarter. Bessemer Group Inc. now owns 1,723 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 910 shares in the last quarter. IFP Advisors Inc purchased a new position in Geo Group during the 4th quarter valued at $30,000. Global Retirement Partners LLC bought a new position in Geo Group in the 2nd quarter worth $34,000. Finally, NewEdge Advisors LLC lifted its position in shares of Geo Group by 81.9% in the 1st quarter. NewEdge Advisors LLC now owns 1,864 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 839 shares during the period. Hedge funds and other institutional investors own 76.10% of the company’s stock.

Geo Group Trading Up 0.1%

NYSE GEO opened at $32.20 on Wednesday. Geo Group Inc has a 12 month low of $12.51 and a 12 month high of $33.15. The stock has a market cap of $4.24 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.76 and a beta of 0.79. The stock’s fifty day moving average price is $30.47 and its 200-day moving average price is $22.98. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.00.

Geo Group (NYSE:GEO) last posted its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.08. The firm had revenue of $732.07 million during the quarter, compared to analyst estimates of $721.43 million. Geo Group had a return on equity of 10.42% and a net margin of 10.31%.Geo Group’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 EPS. As a group, equities analysts forecast that Geo Group Inc will post 1.31 EPS for the current fiscal year.

Insider Activity at Geo Group

In related news, insider Ronald A. Brack sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $32.00, for a total value of $224,000.00. Following the completion of the transaction, the insider directly owned 71,614 shares in the company, valued at $2,291,648. The trade was a 8.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Matthew Albence sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $31.69, for a total value of $316,900.00. Following the completion of the transaction, the vice president directly owned 99,399 shares in the company, valued at $3,149,954.31. This trade represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Geo Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Northland Securities increased their target price on Geo Group from $30.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, June 26th. Weiss Ratings raised Geo Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 9th. JonesTrading raised their target price on Geo Group from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, UBS Group reiterated an “outperform” rating on shares of Geo Group in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $40.00.

Geo Group Profile

The GEO Group (NYSE:GEO) is a leading provider of correctional, detention and community reentry services to government agencies around the world. As a real estate investment trust, the company specializes in the design, financing, development and operation of secure facilities for adult and juvenile offenders, immigration detainees and individuals requiring mental health treatment or substance abuse programming. GEO’s integrated service model also encompasses electronic monitoring, rehabilitative programming and post-release supervision aimed at reducing recidivism and enhancing public safety.

GEO’s portfolio spans a range of facility types, including medium- and maximum-security correctional institutions, residential reentry centers, mental health treatment units and immigration detention centers.