Hudson Bay Capital Management LP Makes New $2.03 Million Investment in Parsons Co. (NYSE:PSN)

Hudson Bay Capital Management LP bought a new position in Parsons Co. (NYSE:PSN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 22,000 shares of the company's stock, valued at approximately $2,030,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Parsons by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 4,575,535 shares of the company's stock worth $422,093,000 after acquiring an additional 59,545 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in Parsons by 271.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,069,724 shares of the company's stock worth $190,932,000 after acquiring an additional 1,512,812 shares during the last quarter. Invesco Ltd. grew its holdings in Parsons by 14.2% during the 4th quarter. Invesco Ltd. now owns 2,056,390 shares of the company's stock worth $189,702,000 after acquiring an additional 255,810 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Parsons by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,189,811 shares of the company's stock worth $109,762,000 after acquiring an additional 26,230 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in Parsons by 5.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,069,175 shares of the company's stock worth $98,631,000 after acquiring an additional 52,522 shares during the last quarter. Institutional investors own 98.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Truist Financial reissued a "buy" rating and set a $80.00 price objective (up previously from $70.00) on shares of Parsons in a report on Thursday, May 1st. William Blair upgraded shares of Parsons from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 18th. KeyCorp cut their target price on shares of Parsons from $76.00 to $73.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Baird R W downgraded shares of Parsons from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, TD Cowen downgraded shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 target price on the stock. in a research report on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $90.20.

Parsons Trading Up 1.1%

Parsons stock traded up $0.78 during midday trading on Friday, hitting $69.03. 1,324,106 shares of the stock were exchanged, compared to its average volume of 1,140,474. The company has a fifty day simple moving average of $62.77 and a two-hundred day simple moving average of $79.19. Parsons Co. has a 52 week low of $54.56 and a 52 week high of $114.68. The stock has a market capitalization of $7.38 billion, a PE ratio of 90.83, a P/E/G ratio of 0.93 and a beta of 0.57. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Parsons declared that its board has authorized a stock repurchase program on Monday, March 24th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are 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.