Billionaire Michael Platt’s 10 Stock Picks with Huge Upside Potential

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

BlueCrest Capital Management’s Q4 Stake: $34.4 million

Upside Potential as of April 29: 41.73%

Number of Hedge Fund Holders: 39

The GEO Group, Inc. (NYSE:GEO) engages in the financing, construction, and provision of services for processing centers, prisons, and community re-entry facilities. Its operations are organized into four segments: US Secure, Electronic Monitoring and Supervision, Re-Entry, and International Services.

Noble Capital boosted its price target for The GEO Group, Inc. (NYSE:GEO) to $35 from $32 on March 25, maintaining an Outperform rating on the shares following the company’s investor day. According to the firm, TheGEO Group, Inc. (NYSE:GEO) disclosed considerable growth prospects under its new efforts to manage undocumented immigrants on investor day.

The GEO Group, Inc. (NYSE:GEO) recently announced a new contract with U.S. Immigration and Customs Enforcement (ICE) to establish a federal immigration processing center in Baldwin, Michigan. Under an anticipated long-term, multi-year deal, GEO’s North Lake Facility will provide a variety of support services, including security, maintenance, food service, recreational amenities, medical treatment, and legal representation.