The GEO Group (NYSE:GEO) Cut to Market Perform at Noble Financial

Noble Financial cut shares of The GEO Group (NYSE:GEO) from an outperform rating to a market perform rating in a research report sent to investors on Monday morning, Marketbeat.com reports.

Other analysts also recently issued research reports about the stock. Wedbush boosted their price objective on shares of The GEO Group from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday. Northland Securities boosted their price objective on shares of The GEO Group from $16.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday. Finally, StockNews.com cut shares of The GEO Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th.

The GEO Group Stock Up 4.4 %

GEO stock opened at $26.49 on Monday. The company has a market cap of $3.70 billion, a P/E ratio of 91.33, a P/E/G ratio of 3.09 and a beta of 0.63. The GEO Group has a 52 week low of $9.14 and a 52 week high of $27.88. The company’s 50-day moving average price is $14.71 and its 200 day moving average price is $14.31. The company has a current ratio of 1.10, a quick ratio of 1.26 and a debt-to-equity ratio of 1.25.

Hedge Funds Weigh In On The GEO Group

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of The GEO Group in the first quarter valued at approximately $510,000. Great Lakes Advisors LLC increased its position in The GEO Group by 1,803.4% during the second quarter. Great Lakes Advisors LLC now owns 312,508 shares of the real estate investment trust’s stock worth $4,488,000 after purchasing an additional 296,090 shares during the last quarter. Renaissance Technologies LLC increased its position in The GEO Group by 352.4% during the second quarter. Renaissance Technologies LLC now owns 100,425 shares of the real estate investment trust’s stock worth $1,442,000 after purchasing an additional 78,225 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in The GEO Group during the second quarter worth approximately $2,104,000. Finally, Victory Capital Management Inc. increased its position in The GEO Group by 112.2% during the second quarter. Victory Capital Management Inc. now owns 174,414 shares of the real estate investment trust’s stock worth $2,505,000 after purchasing an additional 92,210 shares during the last quarter. 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.