The GEO Group Inc (NYSE:GEO) Shares Bought by Mackay Shields LLC

Mackay Shields LLC grew its holdings in The GEO Group Inc (NYSE:GEO) by 8.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 240,372 shares of the real estate investment trust’s stock after buying an additional 19,000 shares during the quarter. Mackay Shields LLC’s holdings in The GEO Group were worth $4,168,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GEO. Redhawk Wealth Advisors Inc. acquired a new stake in shares of The GEO Group in the 2nd quarter valued at approximately $28,000. Marshall Wace North America L.P. acquired a new stake in shares of The GEO Group in the 1st quarter valued at approximately $71,000. US Bancorp DE lifted its holdings in shares of The GEO Group by 10.6% in the 2nd quarter. US Bancorp DE now owns 6,924 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 664 shares during the period. Parallax Volatility Advisers L.P. lifted its holdings in shares of The GEO Group by 111.0% in the 2nd quarter. Parallax Volatility Advisers L.P. now owns 9,241 shares of the real estate investment trust’s stock valued at $194,000 after buying an additional 93,558 shares during the period. Finally, Bailard Inc. acquired a new stake in shares of The GEO Group in the 2nd quarter valued at approximately $206,000. 87.24% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Brian Evans sold 3,468 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $17.45, for a total value of $60,516.60. Following the completion of the transaction, the chief financial officer now directly owns 90,710 shares of the company’s stock, valued at approximately $1,582,889.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anne N. Foreman sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $17.24, for a total value of $137,920.00. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

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Several research firms have recently commented on GEO. ValuEngine raised The GEO Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. TheStreet cut The GEO Group from a “b-” rating to a “c+” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $25.00.

Shares of GEO traded up $0.17 during mid-day trading on Friday, hitting $15.17. The company’s stock had a trading volume of 682,525 shares, compared to its average volume of 814,575. The company has a current ratio of 1.27, a quick ratio of 1.30 and a debt-to-equity ratio of 2.75. The firm has a 50-day simple moving average of $16.00 and a 200 day simple moving average of $18.74. The firm has a market capitalization of $1.83 billion, a P/E ratio of 6.14 and a beta of 1.10. The GEO Group Inc has a 1-year low of $14.68 and a 1-year high of $24.03.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 25th were issued a $0.48 dividend. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $1.92 annualized dividend and a dividend yield of 12.66%. The GEO Group’s dividend payout ratio is currently 77.73%.

The GEO Group Company Profile

The GEO Group, Inc (NYSE: GEO) is the first fully integrated equity real estate investment trust specializing in the design, financing, development, and operation of correctional, detention, and community reentry facilities around the globe. GEO is the world's leading provider of diversified correctional, detention, community reentry, and electronic monitoring services to government agencies worldwide with operations in the United States, Australia, South Africa, and the United Kingdom.

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Institutional Ownership by Quarter for The GEO Group (NYSE:GEO)

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