The GEO Group (NYSE:GEO) Downgraded to Market Perform Rating by Noble Financial

Noble Financial downgraded shares of The GEO Group (NYSE:GEO - Free Report) from an outperform rating to a market perform rating in a research note issued to investors on Monday, MarketBeat Ratings reports.

Several other equities research analysts also recently commented on GEO. Northland Securities boosted their target price on shares of The GEO Group from $16.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday. Wedbush upped 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. Finally, StockNews.com cut shares of The GEO Group from a "buy" rating to a "hold" rating in a research note on Wednesday, August 7th.

The GEO Group Stock Performance

The GEO Group stock traded up $0.97 on Monday, hitting $26.33. The company's stock had a trading volume of 6,996,360 shares, compared to its average volume of 2,639,318. The GEO Group has a one year low of $9.14 and a one year high of $27.88. The firm has a market cap of $3.68 billion, a P/E ratio of 87.45, a price-to-earnings-growth ratio of 3.09 and a beta of 0.63. The company has a quick ratio of 1.26, a current ratio of 1.10 and a debt-to-equity ratio of 1.25. The company has a fifty day moving average price of $14.45 and a 200-day moving average price of $14.23.

Hedge Funds Weigh In On The GEO Group

A number of institutional investors have recently modified their holdings of GEO. SG Americas Securities LLC acquired a new stake in shares of The GEO Group in the first quarter valued at approximately $510,000. Great Lakes Advisors LLC boosted its position in shares of The GEO Group by 1,803.4% in the 2nd 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 grew its stake in shares of 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 period. Gordian Capital Singapore Pte Ltd bought a new stake in The GEO Group in the second quarter valued at about $2,104,000. Finally, Victory Capital Management Inc. lifted its stake in The GEO Group by 112.2% in the second quarter. Victory Capital Management Inc. now owns 174,414 shares of the real estate investment trust's stock valued at $2,505,000 after buying an additional 92,210 shares during the period. 76.10% of the stock is owned by institutional investors.

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.