Michael Burry Is Selling These 3 Stocks in 2022

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1. The GEO Group, Inc. (NYSE:GEO)

Number of Hedge Fund Holders as of December 31: 16

The GEO Group, Inc. (NYSE:GEO) is involved in developing, managing, and operating prisons and mental health facilities across Australia, North America, South Africa, and the United Kingdom.

Michael Burry’s Scion Asset Management opened a position in The GEO Group, Inc. (NYSE:GEO) in Q4 2020 with over 845,000 shares. In the following quarter, Burry sold off the entire holding. A position was reinitiated in Q2 2021 with 2.5 million shares at an average quarterly share price of $6.3. Burry reduced his holding in The GEO Group, Inc. (NYSE:GEO) in Q3 and Q4 till he completely closed the position in Q1 2022.

The GEO Group, Inc. (NYSE:GEO) followed CoreCivic’s action of abandoning the real estate investment trust (REIT) structure in December 2021, which resulted in a drop in stock price. The company announced that it would stop its quarterly dividend payments to investors. The prison management industry is a labor-intensive and low-margin business that is heavily swayed by the change in political stance on crime prevention.

Israel Englander’s Millennium Management was the leading hedge fund investor in The GEO Group, Inc. (NYSE:GEO), with a stake valued at $21.37 million as of Q1 2022.

You can also take a peek at the 12 Best US Stocks to Buy Now and 10 European Defense Stocks to Buy Now.

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