The GEO Group (NYSE:GEO) Reaches New 52-Week High - Here's Why

The GEO Group, Inc. (NYSE:GEO - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $33.95 and last traded at $33.05, with a volume of 346715 shares. The stock had previously closed at $31.67.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GEO. Northland Securities increased their price target on shares of The GEO Group from $16.00 to $37.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Noble Financial lowered shares of The GEO Group from an "outperform" rating to a "market perform" rating in a report on Monday, November 11th. Finally, Wedbush reissued an "outperform" rating on shares of The GEO Group in a research note on Tuesday, December 17th.

The GEO Group Trading Up 7.3 %

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 firm's fifty day moving average is $27.89 and its two-hundred day moving average is $18.99. The firm has a market cap of $4.75 billion, a P/E ratio of 117.14, a PEG ratio of 3.32 and a beta of 0.87.

Institutional Investors Weigh In On The GEO Group

A number of large investors have recently modified their holdings of GEO. Point72 Asset Management L.P. lifted its holdings 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 worth $9,022,000 after buying an additional 968,601 shares during the period. Hodges Capital Management Inc. lifted its stake in shares of The GEO Group by 1,501.6% in the 3rd quarter. Hodges Capital Management Inc. now owns 788,800 shares of the real estate investment trust's stock valued at $10,136,000 after purchasing an additional 739,550 shares during the period. Philosophy Capital Management LLC boosted its position in shares of The GEO Group by 17.1% during the third 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 in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in The GEO Group in the second quarter worth $2,790,000. Finally, Barclays PLC raised its holdings in The GEO Group by 374.6% in the third quarter. Barclays PLC now owns 216,447 shares of the real estate investment trust's stock worth $2,781,000 after purchasing an additional 170,839 shares in the last quarter. Institutional investors 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.