The GEO Group, Inc. (NYSE:GEO) Sees Significant Increase in Short Interest

The GEO Group, Inc. (NYSE:GEO) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 8,800,000 shares, an increase of 59.7% from the October 31st total of 5,510,000 shares. Based on an average daily volume of 3,100,000 shares, the days-to-cover ratio is presently 2.8 days.

Hedge Funds Weigh In On The GEO Group

Institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired 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 acquiring an additional 2,625 shares during the period. Morse Asset Management Inc purchased a new position in shares of The GEO Group in the 3rd quarter valued at about $67,000. Quarry LP purchased a new position in shares of The GEO Group in the 3rd quarter valued at about $77,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in The GEO Group by 62.1% in the 2nd 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 during the period. 76.10% of the stock is owned by hedge funds and other institutional investors.

The GEO Group Trading Up 3.1 %

Shares of NYSE:GEO opened at $28.69 on Friday. 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 GEO Group has a 12-month low of $9.77 and a 12-month high of $29.57. The business has a 50 day moving average of $18.14 and a two-hundred day moving average of $15.40. The company has a market capitalization of $4.01 billion, a PE ratio of 98.93, a PEG ratio of 3.47 and a beta of 0.63.

Analyst Ratings Changes

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

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.