10 Best Prison and Law Enforcement Stocks To Invest In

8. The GEO Group Inc. (NYSE:GEO)

Number of Hedge Fund Holders: 28

The GEO Group Inc. (NYSE:GEO) is a C corporation that specializes in the management and operation of private prisons, correctional facilities, and mental health facilities. The company provides a range of services for detention, community reentry, and secure processing. The GEO Group Inc. (NYSE:GEO) also offers services such as electronic monitoring, secure transportation, and correctional and mental health care. GEO is one of the best prison stocks to buy.

In the third quarter of 2024, the company reported total revenues of $603.1 million, slightly up from $602.8 million in the same quarter last year. The net income attributable to The GEO Group Inc. (NYSE:GEO) was $26.3 million, or $0.19 per diluted share, an increase from $24.5 million or $0.16 per diluted share in Q3 2023. The company faced challenges in its Electronic Monitoring and Supervision Services segment. However, The GEO Group Inc. (NYSE:GEO) sees potential for growth with 18,000 available beds across its facilities that could boost financial performance if utilized fully.

On October 4, 2024, The GEO Group Inc. (NYSE:GEO) announced that the US Immigration and Customs Enforcement (ICE) extended its contract for the Adelanto ICE Processing Center in California through December 2029. This extension highlights GEO Group’s (NYSE:GEO) ongoing role in providing secure housing and support services, reinforcing its position in the law enforcement sector.