Is GEO Group Inc (GEO) A Good Stock to Buy Now?

As aggregate interest increased, key money managers were breaking ground themselves. Elliott Managementcreated the most valuable position in The GEO Group Inc (NYSE:GEO). Bloom Tree Partners position was also a new one. The other funds with brand new GEO positions are Greenlight Capital and Benjamin A. Smith’s Laurion Capital Management.

Let’s go over hedge fund activity in other stocks similar to The GEO Group Inc (NYSE:GEO). These stocks are HSN, Inc. (NASDAQ:HSNI), Acadia Realty Trust (NYSE:AKR), Belden Inc. (NYSE:BDC), and Five Below Inc (NASDAQ:FIVE). This group of stocks’ market caps match GEO’s market cap.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $93 million. That figure was $153 million in GEO’s case. Belden Inc. (NYSE:BDC) is the most popular stock in this table. On the other hand Acadia Realty Trust (NYSE:AKR) is the least popular one with only 6 bullish hedge fund positions. The GEO Group Inc (NYSE:GEO) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard BDC might be a better candidate to consider taking a long position in.

Disclosure: None