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

The GEO Group, Inc. (NYSE:GEO) shares reached a new 52-week high on Tuesday . The company 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.

Analyst Ratings Changes

Several brokerages recently weighed in on GEO. Wedbush restated an “outperform” rating on shares of The GEO Group in a report on Tuesday, December 17th. Northland Securities lifted their price objective on The GEO Group from $16.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Noble Financial downgraded The GEO Group from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th.

The GEO Group Price Performance

The company’s 50 day simple moving average is $29.08 and its 200 day simple moving average is $19.78. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market cap of $4.80 billion, a P/E ratio of 118.30, a P/E/G ratio of 2.75 and a beta of 0.87.

The GEO Group (NYSE:GEO) last issued its quarterly earnings data on Thursday, November 7th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.03). The GEO Group had a return on equity of 9.20% and a net margin of 2.00%. The business had revenue of $603.13 million for the quarter, compared to analyst estimates of $611.69 million. During the same period in the previous year, the business posted $0.19 EPS. As a group, equities analysts forecast that The GEO Group, Inc. will post 0.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. grew its stake in The GEO Group by 363.5% in the third quarter. Point72 Asset Management L.P. now owns 702,107 shares of the real estate investment trust’s stock valued at $9,022,000 after purchasing an additional 968,601 shares in the last quarter. Hodges Capital Management Inc. lifted its holdings in The GEO Group by 1,501.6% during the 3rd quarter. Hodges Capital Management Inc. now owns 788,800 shares of the real estate investment trust’s stock worth $10,136,000 after purchasing an additional 739,550 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of The GEO Group by 91.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 859,528 shares of the real estate investment trust’s stock valued at $24,050,000 after acquiring an additional 411,565 shares during the period. Philosophy Capital Management LLC boosted its holdings in The GEO Group by 17.1% in the 3rd quarter. Philosophy Capital Management LLC now owns 1,644,005 shares of the real estate investment trust’s stock valued at $21,125,000 after purchasing an additional 240,251 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in The GEO Group during the second quarter worth approximately $2,790,000. Institutional investors and hedge funds own 76.10% of the company’s stock.

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.