The GEO Group (NYSE:GEO) Shares Gap Down – Time to Sell?

The GEO Group, Inc. (NYSE:GEO) gapped down before the market opened on Tuesday . The stock had previously closed at $27.73, but opened at $26.93. The GEO Group shares last traded at $27.87, with a volume of 485,694 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Noble Financial lowered The GEO Group from an “outperform” rating to a “market perform” rating in a research report on Monday, November 11th. Wedbush reiterated an “outperform” rating on shares of The GEO Group in a report on Tuesday. Finally, Northland Securities boosted their price objective 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.

The GEO Group Price Performance

The company’s 50 day moving average is $22.10 and its 200-day moving average is $16.74. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 95.62, a P/E/G ratio of 3.32 and a beta of 0.88. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.25.

Institutional Investors Weigh In On The GEO Group

Hedge funds have recently bought and sold shares of the stock. Intech Investment Management LLC acquired a new stake in The GEO Group during the third quarter worth approximately $1,279,000. Versor Investments LP bought a new position in shares of The GEO Group in the third quarter worth $604,000. BNP Paribas Financial Markets lifted its position in The GEO Group by 20.7% during 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. Jennison Associates LLC acquired a new stake in The GEO Group during the third quarter worth about $630,000. Finally, Quest Partners LLC acquired a new stake in The GEO Group during the third quarter worth about $609,000. 76.10% of the stock is currently owned by institutional investors and hedge funds.

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.