Pekin Hardy Strauss Inc. Reduces Position in The GEO Group, Inc. (NYSE:GEO)

Pekin Hardy Strauss Inc. lowered its stake in The GEO Group, Inc. (NYSE:GEO) by 17.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,100 shares of the real estate investment trust’s stock after selling 5,000 shares during the period. Pekin Hardy Strauss Inc.’s holdings in The GEO Group were worth $332,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System increased its position in shares of The GEO Group by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 35,525 shares of the real estate investment trust’s stock valued at $510,000 after acquiring an additional 862 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of The GEO Group by 1.1% in the second quarter. SummerHaven Investment Management LLC now owns 100,735 shares of the real estate investment trust’s stock valued at $1,447,000 after purchasing an additional 1,098 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of The GEO Group by 3.1% in the first quarter. Commonwealth Equity Services LLC now owns 39,703 shares of the real estate investment trust’s stock worth $561,000 after purchasing an additional 1,197 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of The GEO Group by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 106,826 shares of the real estate investment trust’s stock worth $1,508,000 after purchasing an additional 1,402 shares during the period. Finally, ProShare Advisors LLC boosted its position in The GEO Group by 7.4% in the first quarter. ProShare Advisors LLC now owns 24,326 shares of the real estate investment trust’s stock valued at $343,000 after buying an additional 1,669 shares during the last quarter. 76.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The GEO Group

In other The GEO Group news, EVP Shayn P. March sold 2,500 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $17.50, for a total transaction of $43,750.00. Following the transaction, the executive vice president now owns 65,330 shares in the company, valued at $1,143,275. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman George C. Zoley bought 100,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $12.33 per share, with a total value of $1,233,000.00. Following the completion of the purchase, the chairman now directly owns 3,900,904 shares of the company’s stock, valued at $48,098,146.32. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Shayn P. March sold 2,500 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $17.50, for a total transaction of $43,750.00. Following the transaction, the executive vice president now owns 65,330 shares of the company’s stock, valued at approximately $1,143,275. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

The GEO Group Stock Down 2.1 %

The GEO Group stock opened at $12.84 on Wednesday. The business’s 50-day moving average price is $14.10 and its 200 day moving average price is $13.98. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.39 and a beta of 0.66. The GEO Group, Inc. has a 52 week low of $7.33 and a 52 week high of $18.05.

The GEO Group (NYSE:GEO) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The GEO Group had a return on equity of 8.87% and a net margin of 1.92%. The firm had revenue of $607.19 million for the quarter, compared to analyst estimates of $606.16 million. During the same period in the previous year, the business earned $0.24 EPS. As a group, sell-side analysts anticipate that The GEO Group, Inc. will post 0.91 earnings per share for the current year.

Wall Street Analyst Weigh In

GEO has been the subject of several research reports. StockNews.com cut shares of The GEO Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Wedbush reissued an “outperform” rating and set a $19.00 target price on shares of The GEO Group in a report on Wednesday, August 7th.

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.