22,000 Shares in Parsons Co. (NYSE:PSN) Acquired by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP bought a new position in shares of Parsons Co. (NYSE:PSN) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 22,000 shares of the company’s stock, valued at approximately $2,030,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC acquired a new stake in Parsons during the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Parsons during the 4th quarter worth approximately $25,000. Huntington National Bank increased its position in Parsons by 28,900.0% during the 4th quarter. Huntington National Bank now owns 290 shares of the company’s stock worth $27,000 after purchasing an additional 289 shares in the last quarter. GAMMA Investing LLC grew its position in Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after acquiring an additional 218 shares in the last quarter. Finally, Quarry LP acquired a new stake in Parsons in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analyst Upgrades and Downgrades

PSN has been the subject of several recent research reports. Bank of America lowered their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Robert W. Baird downgraded shares of Parsons from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $72.00 to $69.00 in a research report on Thursday, May 1st. KeyCorp lowered their price objective on shares of Parsons from $76.00 to $73.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Truist Financial reaffirmed a “buy” rating and issued a $80.00 price objective (up previously from $70.00) on shares of Parsons in a research report on Thursday, May 1st. Finally, Benchmark reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Parsons in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Parsons currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.20.

Parsons Stock Performance

Parsons stock opened at $65.27 on Wednesday. The stock has a market cap of $6.98 billion, a P/E ratio of 85.88, a price-to-earnings-growth ratio of 0.93 and a beta of 0.57. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $62.22 and a 200-day moving average of $79.78. Parsons Co. has a 52 week low of $54.56 and a 52 week high of $114.68.

Parsons declared that its Board of Directors has initiated a stock buyback program on Monday, March 24th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Parsons Profile

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.