Dark Forest Capital Management LP Invests $376,000 in Parsons Co. (NYSE:PSN)

Dark Forest Capital Management LP purchased a new stake in shares of Parsons Co. (NYSE:PSN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,081 shares of the company’s stock, valued at approximately $376,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC bought a new stake in shares of Parsons in the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new stake in Parsons in the 4th quarter worth about $25,000. ORG Wealth Partners LLC purchased a new position in Parsons in the 4th quarter worth about $26,000. Huntington National Bank lifted its stake in Parsons by 28,900.0% during the 4th quarter. Huntington National Bank now owns 290 shares of the company’s stock valued at $27,000 after acquiring an additional 289 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after acquiring an additional 218 shares during the last quarter. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Parsons Trading Up 0.6 %

Shares of Parsons stock opened at $67.74 on Monday. Parsons Co. has a fifty-two week low of $54.56 and a fifty-two week high of $114.68. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29. The company has a market capitalization of $7.23 billion, a P/E ratio of 89.13, a P/E/G ratio of 0.93 and a beta of 0.66. The company has a fifty day moving average of $60.91 and a 200 day moving average of $83.14.

Parsons declared that its board has authorized 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 repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. The Goldman Sachs Group cut their target price on shares of Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. KeyCorp reduced their price objective on Parsons from $76.00 to $73.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. TD Cowen cut 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. William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. Finally, Benchmark reissued a “buy” rating and issued a $90.00 price objective on shares of Parsons in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.60.

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.