The GEO Group (NYSE:GEO) Shares Up 4.5% – What’s Next?
by Tristan Rich · The Markets DailyThe GEO Group, Inc. (NYSE:GEO – Get Free Report) traded up 4.5% during mid-day trading on Thursday . The stock traded as high as $27.57 and last traded at $27.56. 1,367,665 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 2,705,003 shares. The stock had previously closed at $26.37.
Analysts Set New Price Targets
GEO has been the subject of several analyst reports. Noble Financial lowered The GEO Group from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. Northland Securities increased their price target on The GEO Group from $16.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Wedbush reissued an “outperform” rating on shares of The GEO Group in a report on Tuesday.
Get Our Latest Research Report on GEO
The GEO Group Trading Down 1.7 %
The stock’s fifty day simple moving average is $22.91 and its 200-day simple moving average is $16.97. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $3.85 billion, a PE ratio of 94.87, a PEG ratio of 3.32 and a beta of 0.88.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of GEO. Point72 Asia Singapore Pte. Ltd. purchased a new stake in The GEO Group in the third quarter valued at approximately $25,000. Sound Income Strategies LLC boosted its holdings in shares of The GEO Group by 472.1% in the 3rd quarter. Sound Income Strategies LLC now owns 3,181 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 2,625 shares during the last quarter. Morse Asset Management Inc purchased a new stake in shares of The GEO Group in the 3rd quarter valued at $67,000. Quarry LP acquired a new stake in shares of The GEO Group in the third quarter worth $77,000. Finally, GAMMA Investing LLC raised its holdings in shares of The GEO Group by 38.5% during the third quarter. GAMMA Investing LLC now owns 6,874 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 1,910 shares during the last quarter. 76.10% of the stock is owned by institutional investors and hedge funds.
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.