The GEO Group (NYSE:GEO) Shares Gap Down – Should You Sell?

The GEO Group, Inc. (NYSE:GEO)’s stock price 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 changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GEO shares. Wedbush reissued an “outperform” rating on shares of The GEO Group in a research report on Tuesday. Noble Financial downgraded shares of The GEO Group from an “outperform” rating to a “market perform” rating in a report on Monday, November 11th. Finally, Northland Securities boosted their price target on shares of The GEO Group from $16.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 8th.

The GEO Group Price Performance

The stock has a market cap of $3.69 billion, a P/E ratio of 90.93, a P/E/G ratio of 3.32 and a beta of 0.88. The business has a 50 day simple moving average of $22.63 and a 200-day simple moving average of $16.89. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.10 and a current ratio of 1.10.

Institutional Investors Weigh In On The GEO Group

Several large investors have recently modified their holdings of GEO. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of The GEO Group during the 3rd quarter worth $25,000. Sound Income Strategies LLC raised its position in shares of The GEO Group by 472.1% in 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 purchasing an additional 2,625 shares during the period. Morse Asset Management Inc purchased a new stake in shares of The GEO Group during the 3rd quarter valued at approximately $67,000. Quarry LP purchased a new stake in shares of The GEO Group during the 3rd quarter valued at approximately $77,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in The GEO Group by 62.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 6,245 shares of the real estate investment trust’s stock worth $90,000 after buying an additional 2,393 shares during the period. Hedge funds and other 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.