Shares of Geo Group Inc. (NYSE:GEO) dropped 2.1% during trading on Thursday . The company traded as low as $33.78 and last traded at $33.79, with a volume of 154,240 shares traded. The stock had previously closed at $34.50.

GEO has been the subject of a number of research reports. Canaccord Genuity reissued a “buy” rating on shares of Geo Group in a research note on Thursday, April 28th. Zacks Investment Research raised shares of Geo Group from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Wednesday, May 4th.

The stock’s 50 day moving average is $33.24 and its 200 day moving average is $31.14. The firm has a market capitalization of $2.49 billion and a P/E ratio of 17.42.

Geo Group (NYSE:GEO) last issued its quarterly earnings results on Thursday, April 28th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.01. The business had revenue of $510.19 million for the quarter, compared to analyst estimates of $537.49 million. During the same quarter in the prior year, the company earned $0.72 EPS. Equities analysts expect that Geo Group Inc. will post $3.13 earnings per share for the current year.

In related news, SVP J David Donahue sold 2,750 shares of the stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $32.00, for a total transaction of $88,000.00. Following the completion of the sale, the senior vice president now owns 9,370 shares in the company, valued at approximately $299,840. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO George C. Zoley sold 9,297 shares of the stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $32.32, for a total transaction of $300,479.04. Following the sale, the chief executive officer now owns 999,086 shares of the company’s stock, valued at approximately $32,290,459.52. The disclosure for this sale can be found here.

Several hedge funds have recently added to or reduced their stakes in GEO. Hodges Capital Management Inc. boosted its stake in Geo Group by 3.4% in the fourth quarter. Hodges Capital Management Inc. now owns 1,038,934 shares of the real estate investment trust’s stock valued at $30,036,000 after buying an additional 33,893 shares during the period. Systematic Financial Management LP purchased a new stake in Geo Group during the fourth quarter valued at approximately $1,786,000. Alpine Woods Capital Investors LLC boosted its stake in Geo Group by 7.8% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 580,300 shares of the real estate investment trust’s stock valued at $16,776,000 after buying an additional 42,200 shares during the period. Wells Fargo & Company MN boosted its stake in Geo Group by 6.4% in the fourth quarter. Wells Fargo & Company MN now owns 469,580 shares of the real estate investment trust’s stock valued at $13,575,000 after buying an additional 28,194 shares during the period. Finally, Morgan Stanley boosted its stake in Geo Group by 56.4% in the fourth quarter. Morgan Stanley now owns 335,602 shares of the real estate investment trust’s stock valued at $9,702,000 after buying an additional 121,002 shares during the period.

The GEO Group, Inc is a real estate investment trust (REIT) specializing in the ownership, leasing and management of correctional, detention and re-entry facilities and the provision of community-based services and youth services in the United States, Australia, South Africa, the United Kingdom and Canada.

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