Harvest Fund Management Co. Ltd Acquires Shares of 9,419 The GEO Group, Inc. (NYSE:GEO)

Harvest Fund Management Co. Ltd acquired a new stake in shares of The GEO Group, Inc. (NYSE:GEO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,419 shares of the real estate investment trust’s stock, valued at approximately $264,000.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its position in The GEO Group by 1.4% during the third quarter. State Street Corp now owns 4,919,298 shares of the real estate investment trust’s stock valued at $63,213,000 after purchasing an additional 66,658 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of The GEO Group by 3.3% during the third quarter. Geode Capital Management LLC now owns 3,016,103 shares of the real estate investment trust’s stock worth $38,765,000 after buying an additional 97,452 shares in the last quarter. Philosophy Capital Management LLC increased its holdings in shares of The GEO Group by 17.1% during the third quarter. Philosophy Capital Management LLC now owns 1,644,005 shares of the real estate investment trust’s stock worth $21,125,000 after buying an additional 240,251 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of The GEO Group by 5.8% during the fourth quarter. Allianz Asset Management GmbH now owns 1,491,209 shares of the real estate investment trust’s stock worth $41,724,000 after buying an additional 82,341 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of The GEO Group by 91.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 859,528 shares of the real estate investment trust’s stock worth $24,050,000 after buying an additional 411,565 shares in the last quarter. 76.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GEO shares. Wedbush reiterated an “outperform” rating and set a $46.00 price target on shares of The GEO Group in a report on Tuesday. Jones Trading reiterated a “buy” rating and set a $55.00 price target on shares of The GEO Group in a report on Friday. UBS Group set a $32.00 price target on shares of The GEO Group in a report on Wednesday, March 5th. Noble Financial raised shares of The GEO Group from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research note on Wednesday, March 5th. Finally, StockNews.com cut shares of The GEO Group from a “hold” rating to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, The GEO Group has an average rating of “Moderate Buy” and an average target price of $40.40.

The GEO Group Stock Performance

Shares of The GEO Group stock opened at $28.24 on Friday. 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, Inc. has a twelve month low of $11.75 and a twelve month high of $36.46. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of 97.37, a P/E/G ratio of 2.11 and a beta of 0.91. The company’s fifty day moving average is $28.57 and its 200 day moving average is $23.60.

The GEO Group (NYSE:GEO) last issued its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). The firm had revenue of $607.72 million for the quarter, compared to the consensus estimate of $607.45 million. The GEO Group had a net margin of 2.00% and a return on equity of 9.20%. Sell-side analysts forecast that The GEO Group, Inc. will post 0.83 EPS for the current year.

About The GEO Group

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.