The GEO Group (NYSE:GEO) Shares Down 4.7% – Here’s What Happened

Shares of The GEO Group, Inc. (NYSE:GEO) fell 4.7% during mid-day trading on Monday . The company traded as low as $27.01 and last traded at $27.18. 635,163 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 2,699,279 shares. The stock had previously closed at $28.51.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GEO shares. StockNews.com cut shares of The GEO Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Wedbush boosted their price objective 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. Noble Financial lowered The GEO Group from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. Finally, Northland Securities boosted their price target 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 Trading Down 0.6 %

The firm has a 50 day moving average of $19.37 and a 200 day moving average of $15.83. The firm has a market cap of $3.77 billion, a PE ratio of 92.93, a P/E/G ratio of 3.28 and a beta of 0.88. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in The GEO Group by 4.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 262,120 shares of the real estate investment trust’s stock valued at $3,703,000 after purchasing an additional 11,905 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of The GEO Group by 9.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 110,914 shares of the real estate investment trust’s stock valued at $1,593,000 after buying an additional 9,313 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in The GEO Group by 131.8% in the second quarter. Nisa Investment Advisors LLC now owns 1,037,881 shares of the real estate investment trust’s stock worth $14,904,000 after purchasing an additional 590,099 shares during the period. SummerHaven Investment Management LLC raised its holdings in The GEO Group by 1.1% in the second quarter. SummerHaven Investment Management LLC now owns 100,735 shares of the real estate investment trust’s stock worth $1,447,000 after purchasing an additional 1,098 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in The GEO Group by 10.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 67,100 shares of the real estate investment trust’s stock valued at $964,000 after acquiring an additional 6,600 shares during the period. Institutional investors own 76.10% of the company’s stock.

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.