Jennison Associates LLC Buys New Stake in The GEO Group, Inc. (NYSE:GEO)

Jennison Associates LLC purchased a new stake in The GEO Group, Inc. (NYSE:GEO) during the third quarter, HoldingsChannel.com reports. The fund purchased 49,059 shares of the real estate investment trust’s stock, valued at approximately $630,000.

Other hedge funds have also bought and sold shares of the company. Versor Investments LP bought a new stake in shares of The GEO Group in the third quarter worth about $604,000. Great Lakes Advisors LLC grew its holdings in The GEO Group by 1,803.4% during the 2nd quarter. Great Lakes Advisors LLC now owns 312,508 shares of the real estate investment trust’s stock valued at $4,488,000 after buying an additional 296,090 shares in the last quarter. Renaissance Technologies LLC increased its stake in The GEO Group by 352.4% in the 2nd quarter. Renaissance Technologies LLC now owns 100,425 shares of the real estate investment trust’s stock worth $1,442,000 after acquiring an additional 78,225 shares during the last quarter. Quest Partners LLC bought a new stake in The GEO Group in the 3rd quarter worth approximately $609,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of The GEO Group during the 2nd quarter worth approximately $2,104,000. Hedge funds and other institutional investors own 76.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

The GEO Group Stock Down 0.2 %

Shares of GEO opened at $28.68 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.25. The business has a fifty day moving average of $17.22 and a 200 day moving average of $15.09. The company has a market cap of $4.01 billion, a PE ratio of 98.90, a P/E/G ratio of 3.48 and a beta of 0.63. The GEO Group, Inc. has a 52-week low of $9.74 and a 52-week high of $29.57.

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.