Research analysts at Noble Financial initiated coverage on shares of The GEO Group (NYSE:GEO) in a report issued on Monday, The Fly reports. The firm set an “outperform” rating and a $15.00 price target on the real estate investment trust’s stock. Noble Financial’s target price suggests a potential upside of 31.00% from the stock’s previous close.
Separately, ValuEngine downgraded The GEO Group from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd.
Shares of GEO stock opened at $11.45 on Monday. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.24 and a current ratio of 1.24. The GEO Group has a fifty-two week low of $9.95 and a fifty-two week high of $21.32. The stock has a 50 day moving average price of $12.04 and a two-hundred day moving average price of $13.99. The company has a market capitalization of $1.39 billion, a P/E ratio of 9.02, a PEG ratio of 0.48 and a beta of 1.08.
In other The GEO Group news, CEO George C. Zoley bought 4,850 shares of The GEO Group stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $10.37 per share, with a total value of $50,294.50. Following the completion of the purchase, the chief executive officer now owns 2,750,000 shares of the company’s stock, valued at $28,517,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard H. Glanton sold 2,100 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $14.65, for a total value of $30,765.00. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Mason Street Advisors LLC increased its stake in shares of The GEO Group by 1.4% during the fourth quarter. Mason Street Advisors LLC now owns 64,505 shares of the real estate investment trust’s stock valued at $1,071,000 after buying an additional 918 shares during the period. Arkadios Wealth Advisors grew its stake in The GEO Group by 66.7% in the first quarter. Arkadios Wealth Advisors now owns 2,500 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 1,000 shares during the period. State of Alaska Department of Revenue grew its stake in The GEO Group by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 54,622 shares of the real estate investment trust’s stock worth $663,000 after purchasing an additional 1,004 shares during the period. Commonwealth Equity Services LLC grew its stake in The GEO Group by 6.0% in the first quarter. Commonwealth Equity Services LLC now owns 18,674 shares of the real estate investment trust’s stock worth $227,000 after purchasing an additional 1,057 shares during the period. Finally, Sunbelt Securities Inc. purchased a new stake in The GEO Group in the fourth quarter worth $5,191,000. 75.73% of the stock is currently owned by hedge funds and other institutional investors.
The GEO Group Company Profile
The GEO Group, Inc (NYSE: GEO) is the first fully integrated equity real estate investment trust specializing in the design, financing, development, and operation of correctional, detention, and community reentry facilities around the globe. GEO is the world's leading provider of diversified correctional, detention, community reentry, and electronic monitoring services to government agencies worldwide with operations in the United States, Australia, South Africa, and the United Kingdom.
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