Corebridge Financial Inc. Lowers Holdings in The GEO Group, Inc. (NYSE:GEO)

Corebridge Financial Inc. lowered its stake in shares of The GEO Group, Inc. (NYSE:GEO) by 5.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 68,081 shares of the real estate investment trust’s stock after selling 3,705 shares during the period. Corebridge Financial Inc.’s holdings in The GEO Group were worth $1,905,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in The GEO Group during the third quarter worth $25,000. SRS Capital Advisors Inc. raised its position in shares of 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 worth $33,000 after acquiring an additional 720 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of The GEO Group by 149.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,527 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 915 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of The GEO Group during the 3rd quarter valued at about $67,000. Finally, Quarry LP purchased a new position in shares of The GEO Group in the 3rd quarter valued at about $77,000. Institutional investors and hedge funds own 76.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GEO. StockNews.com downgraded The GEO Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Wedbush reiterated an “outperform” rating and set a $46.00 target price on shares of The GEO Group in a research report on Tuesday, March 18th. UBS Group set a $35.00 price target on shares of The GEO Group in a report on Monday, March 24th. Jones Trading reaffirmed a “buy” rating and set a $55.00 price objective on shares of The GEO Group in a report on Friday, March 21st. Finally, Noble Financial reissued an “outperform” rating on shares of The GEO Group in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

The GEO Group Stock Down 1.4 %

NYSE GEO opened at $29.51 on Thursday. The business has a fifty day moving average price of $27.89 and a 200 day moving average price of $24.59. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $4.16 billion, a P/E ratio of 101.76, a P/E/G ratio of 2.11 and a beta of 0.91. The GEO Group, Inc. has a one year low of $11.75 and a one year high of $36.46.

The GEO Group (NYSE:GEO) last issued its 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 business had revenue of $607.72 million during the quarter, compared to analyst estimates of $607.45 million. The GEO Group had a net margin of 2.00% and a return on equity of 9.20%. Research analysts anticipate that The GEO Group, Inc. will post 0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Shayn P. March sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $30.00, for a total value of $225,000.00. Following the completion of the sale, the executive vice president now directly owns 67,469 shares in the company, valued at $2,024,070. This represents a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.30% of the company’s stock.

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.