The GEO Group (NYSE:GEO) Sets New 52-Week High – Here’s What Happened

Shares of The GEO Group, Inc. (NYSE:GEO) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $36.46 and last traded at $34.54, with a volume of 1258642 shares. The stock had previously closed at $35.35.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wedbush reissued an “outperform” rating on shares of The GEO Group in a report on Tuesday, December 17th. Noble Financial lowered The GEO Group from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. Finally, Northland Securities upped their target price on shares of The GEO Group from $16.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 8th.

The GEO Group Price Performance

The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.25. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 120.42, a P/E/G ratio of 2.79 and a beta of 0.87. The stock’s fifty day moving average price is $28.71 and its 200-day moving average price is $19.54.

Institutional Investors Weigh In On The GEO Group

A number of institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in The GEO Group during the 3rd quarter worth approximately $25,000. Sound Income Strategies LLC raised 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 worth $41,000 after acquiring an additional 2,625 shares in the last quarter. Morse Asset Management Inc purchased a new stake in The GEO Group during the third quarter worth approximately $67,000. Quarry LP purchased a new position in The GEO Group in the third quarter valued at approximately $77,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in The GEO Group by 62.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,245 shares of the real estate investment trust’s stock worth $90,000 after purchasing an additional 2,393 shares in 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.