The GEO Group (NYSE:GEO) Shares Up 4.4% – Here’s Why

Shares of The GEO Group, Inc. (NYSE:GEO) were up 4.4% during mid-day trading on Thursday . The company traded as high as $26.80 and last traded at $26.60. Approximately 177,422 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 2,665,889 shares. The stock had previously closed at $25.47.

Analysts Set New Price Targets

GEO has been the topic of several recent research reports. Wedbush boosted their price target on The GEO Group from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Northland Securities upped their target price 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. StockNews.com downgraded shares of The GEO Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Noble Financial downgraded The GEO Group from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th.

The GEO Group Trading Up 1.9 %

The firm has a market cap of $3.72 billion, a P/E ratio of 91.73, a price-to-earnings-growth ratio of 3.16 and a beta of 0.63. The business’s 50 day moving average is $15.72 and its 200-day moving average is $14.62. The company has a quick ratio of 1.26, a current ratio of 1.10 and a debt-to-equity ratio of 1.25.

Institutional Trading of The GEO Group

Several hedge funds and other institutional investors have recently bought and sold shares of GEO. Point72 Asia Singapore Pte. Ltd. bought a new stake in The GEO Group during the third quarter valued at $25,000. Sound Income Strategies LLC grew its position in shares of 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 buying an additional 2,625 shares during the last quarter. Morse Asset Management Inc acquired a new stake in The GEO Group during the third quarter worth about $67,000. Quarry LP bought a new position in The GEO Group in the third quarter worth about $77,000. Finally, GAMMA Investing LLC boosted its stake in 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 valued at $88,000 after acquiring an additional 1,910 shares during the period. 76.10% of the stock is owned by institutional investors.

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.