What's Going On With Geo Group Stock Today?

What's Going On With Geo Group Stock Today?

Geo Group Inc GEO shares are trading higher Tuesday following positive analyst coverage from Wedbush

What Happened: Wedbush analyst Jay McCanless upgraded GEO Group from a Neutral rating to an Outperform rating and raised the price target from $10 to $14, citing several tailwinds ahead of the for-profit prison company.

Former hedge fund manager and "Big Short" investor Michael Burry noted that he sold out of all of his positions except for Geo Group earlier this year. A recent regulatory filing showed Burry increased his position in Geo Group during the third quarter. 

The Geo Group specializes in detention facilities and community-reentry centers.

Check This Out: Michael Burry Doubles Down On Prison Stocks, Adds This Space Company In 5 New Announced Q3 Positions

GEO Price Action: Geo Group has a 52-week high of $11.66 and a 52-week low of $5.21.

GEO shares were up 13.8% at $11.64 at time of publication, according to Benzinga Pro.

Photo: Ichigo121212 from Pixabay.

Posted In: Jay McCanlessMichael Burrywhy it's movingSmall CapMoversTrading Ideas