The GEO Group (NYSE:GEO) Stock Price Down 5.7% - Here's What Happened

The GEO Group, Inc. (NYSE:GEO - Get Free Report)'s share price was down 5.7% during trading on Friday . The stock traded as low as $24.28 and last traded at $24.07. Approximately 516,088 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 2,692,554 shares. The stock had previously closed at $25.53.

Analysts Set New Price Targets

Several analysts recently issued reports on GEO shares. Northland Securities increased their target price on The GEO Group from $16.00 to $37.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Noble Financial upgraded shares of The GEO Group from a "market perform" rating to an "outperform" rating and set a $32.00 price objective on the stock in a research report on Wednesday. Finally, Wedbush restated an "outperform" rating on shares of The GEO Group in a research report on Tuesday, December 17th.

The GEO Group Stock Performance

The business's fifty day moving average is $29.29 and its two-hundred day moving average is $22.63. The stock has a market capitalization of $3.44 billion, a PE ratio of 84.50, a price-to-earnings-growth ratio of 2.11 and a beta of 0.91. 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 GEO Group (NYSE:GEO - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.08). The business had revenue of $607.72 million during the quarter, compared to analysts' expectations of $607.45 million. The GEO Group had a return on equity of 9.20% and a net margin of 2.00%. As a group, research analysts anticipate that The GEO Group, Inc. will post 0.83 EPS for the current fiscal year.

Institutional Trading of The GEO Group

A number of institutional investors have recently bought and sold shares of the stock. Intech Investment Management LLC bought a new position in The GEO Group during the 3rd quarter valued at about $1,279,000. Versor Investments LP bought a new position in shares of The GEO Group during the third quarter valued at approximately $604,000. Nisa Investment Advisors LLC raised its holdings 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 worth $24,050,000 after buying an additional 411,565 shares during the period. BNP Paribas Financial Markets increased its stake in The GEO Group by 20.7% in the third quarter. BNP Paribas Financial Markets now owns 273,724 shares of the real estate investment trust's stock worth $3,517,000 after purchasing an additional 46,905 shares during the period. Finally, Jennison Associates LLC bought a new stake in shares of The GEO Group during the third quarter worth $630,000. 76.10% of the stock is currently 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.

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