State Street Corp Purchases 66,658 Shares of The GEO Group, Inc. (NYSE:GEO)

State Street Corp increased its holdings in The GEO Group, Inc. (NYSE:GEO) by 1.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,919,298 shares of the real estate investment trust’s stock after acquiring an additional 66,658 shares during the quarter. State Street Corp’s holdings in The GEO Group were worth $63,213,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of The GEO Group in the 3rd quarter valued at about $25,000. Sound Income Strategies LLC raised its stake in 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 in the last quarter. Morse Asset Management Inc purchased a new stake in The GEO Group in the third quarter valued at approximately $67,000. Quarry LP purchased a new position in The GEO Group in the 3rd quarter worth approximately $77,000. Finally, GAMMA Investing LLC increased its holdings 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 buying an additional 1,910 shares during the last quarter. Institutional investors own 76.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GEO. Northland Securities lifted their price objective 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. Noble Financial lowered The GEO Group from an “outperform” rating to a “market perform” rating in a research note on Monday, November 11th. Finally, Wedbush reiterated an “outperform” rating on shares of The GEO Group in a research report on Tuesday.

The GEO Group Price Performance

GEO stock opened at $26.37 on Thursday. The firm 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 firm’s fifty day moving average is $22.63 and its 200 day moving average is $16.89. The GEO Group, Inc. has a 52 week low of $10.46 and a 52 week high of $29.86. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.10 and a current ratio of 1.10.

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.