Northland Securities Forecasts Strong Price Appreciation for The GEO Group (NYSE:GEO) Stock

The GEO Group (NYSE:GEO) had its price target upped by Northland Securities from $16.00 to $37.00 in a report released on Friday,Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

A number of other equities analysts have also issued reports on the stock. StockNews.com lowered shares of The GEO Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Wedbush raised their price objective on shares of The GEO Group from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday.

The GEO Group Stock Up 4.4 %

The GEO Group stock opened at $26.49 on Friday. The company has a market capitalization of $3.70 billion, a P/E ratio of 91.33, a PEG ratio of 3.09 and a beta of 0.63. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.26 and a current ratio of 1.10. The GEO Group has a fifty-two week low of $9.14 and a fifty-two week high of $27.88. The stock has a 50-day simple moving average of $14.71 and a 200-day simple moving average of $14.31.

Institutional Investors Weigh In On The GEO Group

Several hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC raised its position in The GEO Group by 3.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 39,703 shares of the real estate investment trust’s stock worth $561,000 after buying an additional 1,197 shares during the last quarter. SG Americas Securities LLC purchased a new stake in The GEO Group in the 1st quarter valued at approximately $510,000. Great Lakes Advisors LLC increased its position in The GEO Group by 1,803.4% during the 2nd quarter. Great Lakes Advisors LLC now owns 312,508 shares of the real estate investment trust’s stock worth $4,488,000 after purchasing an additional 296,090 shares during the period. Renaissance Technologies LLC raised its stake in shares of The GEO Group by 352.4% during the 2nd quarter. Renaissance Technologies LLC now owns 100,425 shares of the real estate investment trust’s stock worth $1,442,000 after buying an additional 78,225 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of The GEO Group by 568.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,326 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 9,632 shares during the period. 76.10% of the stock is 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.