Weiss Asset Management LP Lowers Position in The GEO Group, Inc. (NYSE:GEO)

Weiss Asset Management LP lowered its stake in shares of The GEO Group, Inc. (NYSE:GEO - Free Report) by 37.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 672,385 shares of the real estate investment trust's stock after selling 395,940 shares during the period. Weiss Asset Management LP owned approximately 0.48% of The GEO Group worth $8,640,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of The GEO Group during the 3rd quarter valued at about $25,000. Sound Income Strategies LLC increased its holdings in The GEO Group by 472.1% during the third quarter. Sound Income Strategies LLC now owns 3,181 shares of the real estate investment trust's stock valued at $41,000 after buying an additional 2,625 shares during the last quarter. Morse Asset Management Inc purchased a new position in shares of The GEO Group during the 3rd quarter worth $67,000. Quarry LP bought a new stake in shares of The GEO Group during the 3rd quarter valued at $77,000. Finally, GAMMA Investing LLC increased its stake in shares of The GEO Group by 38.5% in the 3rd quarter. GAMMA Investing LLC now owns 6,874 shares of the real estate investment trust's stock worth $88,000 after purchasing an additional 1,910 shares in the last quarter. Hedge funds and other institutional investors own 76.10% of the company's stock.

The GEO Group Price Performance

The GEO Group stock traded down $0.71 during mid-day trading on Friday, hitting $28.42. The stock had a trading volume of 2,077,680 shares, compared to its average volume of 2,719,879. The GEO Group, Inc. has a one year low of $9.88 and a one year high of $29.86. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $3.97 billion, a P/E ratio of 98.87, a P/E/G ratio of 3.53 and a beta of 0.88. The firm's 50 day moving average is $20.03 and its 200 day moving average is $16.02.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GEO. Wedbush lifted their target price on The GEO Group from $25.00 to $30.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Noble Financial cut The GEO Group from an "outperform" rating to a "market perform" rating in a research report on Monday, November 11th. Finally, Northland Securities boosted their price objective on The GEO Group from $16.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday, November 8th.

The GEO Group Profile

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.