Intech Investment Management LLC Purchases New Position in The GEO Group, Inc. (NYSE:GEO)

Intech Investment Management LLC acquired a new position in The GEO Group, Inc. (NYSE:GEO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 99,555 shares of the real estate investment trust’s stock, valued at approximately $1,279,000. Intech Investment Management LLC owned approximately 0.07% of The GEO Group at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in shares of The GEO Group by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,114,771 shares of the real estate investment trust’s stock valued at $16,008,000 after purchasing an additional 49,134 shares during the period. Nisa Investment Advisors LLC grew its position in shares of The GEO Group by 131.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,037,881 shares of the real estate investment trust’s stock valued at $14,904,000 after acquiring an additional 590,099 shares during the period. Principal Financial Group Inc. increased its stake in shares of The GEO Group by 3.6% in the 2nd quarter. Principal Financial Group Inc. now owns 656,596 shares of the real estate investment trust’s stock valued at $9,429,000 after purchasing an additional 22,969 shares in the last quarter. Rhumbline Advisers raised its holdings in The GEO Group by 5.1% in the 2nd quarter. Rhumbline Advisers now owns 403,223 shares of the real estate investment trust’s stock worth $5,790,000 after purchasing an additional 19,523 shares during the period. Finally, Great Lakes Advisors LLC boosted its position in The GEO Group by 1,803.4% during the second quarter. Great Lakes Advisors LLC now owns 312,508 shares of the real estate investment trust’s stock worth $4,488,000 after purchasing an additional 296,090 shares in the last quarter. Hedge funds and other institutional investors own 76.10% of the company’s stock.

The GEO Group Trading Down 0.4 %

Shares of GEO stock opened at $27.83 on Wednesday. The GEO Group, Inc. has a fifty-two week low of $9.77 and a fifty-two week high of $29.57. 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 stock’s fifty day moving average is $17.52 and its two-hundred day moving average is $15.20. The firm has a market capitalization of $3.89 billion, a P/E ratio of 95.97, a PEG ratio of 3.47 and a beta of 0.63.

Analyst Ratings Changes

Several brokerages have recently weighed in on GEO. Wedbush upped their target price on The GEO Group from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. StockNews.com downgraded shares of The GEO Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Noble Financial cut shares of The GEO Group from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. Finally, Northland Securities raised their price target on shares of The GEO Group from $16.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 8th.

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.