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

Hudson Bay Capital Management LP purchased a new position in shares of Parsons Co. (NYSE:PSN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,000 shares of the company's stock, valued at approximately $2,030,000.

A number of other large investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Parsons by 0.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,207 shares of the company's stock valued at $1,311,000 after purchasing an additional 131 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Parsons by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,287 shares of the company's stock worth $303,000 after acquiring an additional 163 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Parsons by 0.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 32,126 shares of the company's stock worth $2,964,000 after acquiring an additional 191 shares during the period. GAMMA Investing LLC lifted its holdings in Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company's stock valued at $29,000 after purchasing an additional 218 shares in the last quarter. Finally, Xponance Inc. increased its stake in shares of Parsons by 5.0% during the fourth quarter. Xponance Inc. now owns 5,254 shares of the company's stock worth $485,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PSN shares. Bank of America reduced their target price on Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. The Goldman Sachs Group dropped their price objective on shares of Parsons from $109.00 to $98.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $65.00 price target (down previously from $75.00) on shares of Parsons in a report on Monday, May 5th. KeyCorp cut their target price on Parsons from $76.00 to $73.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, TD Cowen lowered Parsons from a "buy" rating to a "hold" rating and set a $105.00 price target on the stock. in a research note on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $90.20.

Parsons Stock Performance

Shares of PSN stock traded down $0.16 during midday trading on Monday, hitting $68.84. The company had a trading volume of 161,982 shares, compared to its average volume of 1,139,291. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 90.48, a PEG ratio of 0.93 and a beta of 0.57. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. The company's 50 day simple moving average is $62.77 and its 200 day simple moving average is $78.77. Parsons Co. has a 52-week low of $54.56 and a 52-week high of $114.68.

Parsons declared that its board has initiated a stock buyback program on Monday, March 24th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

About Parsons

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.