Prison stocks gain as Michael Burry's fund boosts bet on Geo Group

Aerojet Rocketdyne Holdings

14/11/2022 21:12

** Shares of private prison operators Geo Group Inc  GEO.N 
and CoreCivic Inc  CXW.N  on Mon close up 2.8% and 2.3%,
respectively, after Michael Burry's fund discloses positions
    ** 'Big Short' investor's Scion Asset Management bought ~1.5
mln additional GEO shares and now holds ~2 mln shares at
end-Sept, and purchased 725k shares of CXW in Q3, per 13F
regulatory filing
    ** Scion also took new positions in Aerojet Rocketdyne
Holdings Inc  AJRD.N , Charter Communications Inc  CHTR.O ,
Liberty Latin America Ltd  LILA.O  and Qurate Retail Inc
 QRTEA.O 
    ** GEO and CXW account for roughly a third of hedge fund's
shares held at end-Sept
    ** With advances on the session, GEO has risen 33% since
end-Jun, while CXW is essentially flat over same time
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))