The GEO Group (NYSE:GEO) Shares Gap Down – Here’s Why

Shares of The GEO Group, Inc. (NYSE:GEO) gapped down prior to trading on Tuesday . The stock had previously closed at $26.38, but opened at $25.56. The GEO Group shares last traded at $26.46, with a volume of 302,585 shares traded.

Wall Street Analyst Weigh In

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

The GEO Group Stock Performance

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 company has a fifty day moving average price of $15.98 and a 200 day moving average price of $14.70. The stock has a market cap of $3.95 billion, a P/E ratio of 97.11, a P/E/G ratio of 3.22 and a beta of 0.63.

Institutional Trading of The GEO Group

A number of hedge funds and other institutional investors have recently bought and sold shares of GEO. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of The GEO Group during the third quarter valued at about $25,000. Sound Income Strategies LLC boosted its stake in The GEO Group by 472.1% during 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 purchasing an additional 2,625 shares during the last quarter. Morse Asset Management Inc acquired a new position in The GEO Group during the 3rd quarter valued at about $67,000. Quarry LP bought a new stake in The GEO Group during the 3rd quarter worth approximately $77,000. Finally, GAMMA Investing LLC raised its stake in shares of The GEO Group by 38.5% in 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. Institutional investors own 76.10% 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.