The GEO Group (NYSE:GEO) Shares Gap Up on Analyst Upgrade

The GEO Group, Inc. (NYSE:GEO) shares gapped up prior to trading on Monday after Northland Securities raised their price target on the stock from $16.00 to $37.00. The stock had previously closed at $25.36, but opened at $27.00. Northland Securities currently has an outperform rating on the stock. The GEO Group shares last traded at $26.93, with a volume of 2,383,591 shares changing hands.

GEO has been the topic of a number of other research reports. StockNews.com lowered The GEO Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Wedbush boosted their target price on The GEO Group from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday.

Institutional Trading of The GEO Group

A number of large investors have recently modified their holdings of the stock. Intech Investment Management LLC purchased a new stake in shares of The GEO Group during the third quarter worth $1,279,000. Jennison Associates LLC purchased a new stake in shares of The GEO Group during the third quarter worth $630,000. Quest Partners LLC purchased a new position in The GEO Group in the third quarter valued at $609,000. Chesapeake Capital Corp IL increased its holdings in The GEO Group by 27.9% in the third quarter. Chesapeake Capital Corp IL now owns 22,000 shares of the real estate investment trust’s stock valued at $280,000 after buying an additional 4,800 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in The GEO Group by 12.0% in the third quarter. Victory Capital Management Inc. now owns 195,376 shares of the real estate investment trust’s stock valued at $2,511,000 after buying an additional 20,962 shares during the last quarter. Hedge funds and other institutional investors own 76.10% of the company’s stock.

The GEO Group Stock Up 4.4 %

The stock has a market cap of $3.70 billion, a PE ratio of 91.33, a price-to-earnings-growth ratio of 3.09 and a beta of 0.63. The firm has a fifty day moving average of $14.71 and a 200 day moving average of $14.31. The company has a quick ratio of 1.26, a current ratio of 1.10 and a debt-to-equity ratio of 1.25.

The GEO Group Company Profile

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.