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

The GEO Group, Inc. (NYSE:GEO) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $30.38 and last traded at $30.19, with a volume of 1795727 shares traded. The stock had previously closed at $28.69.

Wall Street Analyst Weigh In

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

The GEO Group Price Performance

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 company has a 50 day simple moving average of $26.90 and a 200-day simple moving average of $18.54. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 107.11, a PEG ratio of 3.32 and a beta of 0.87.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers lifted its holdings in The GEO Group by 5.1% in the second quarter. Rhumbline Advisers now owns 403,223 shares of the real estate investment trust’s stock worth $5,790,000 after acquiring an additional 19,523 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of The GEO Group by 112.2% in the 2nd 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. Arizona State Retirement System boosted its position in The GEO Group by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 35,525 shares of the real estate investment trust’s stock valued at $510,000 after purchasing an additional 862 shares during the period. WINTON GROUP Ltd boosted its position in The GEO Group by 100.9% during the 2nd quarter. WINTON GROUP Ltd now owns 140,992 shares of the real estate investment trust’s stock valued at $2,025,000 after purchasing an additional 70,795 shares during the period. Finally, Dimensional Fund Advisors LP bought a new position in The GEO Group during the 2nd quarter worth $1,314,000. 76.10% of the stock is owned by institutional investors and hedge funds.

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.