Parsons Corp – (PSN, +1, August 9th)
George Ball (Non-Executive since 2022, joined 1995) purchased $2.9 million of stock at $41.50 on August 5th, increasing his holding by 25%. This is his largest purchase and the highest price he has paid. His track record as a buyer on his 6 previous purchases since May 2019 has been good , contributing to ranking the stock +1 on 5 prior occasions.
The last signal, which ended on July 31st, only expired due to the passing of time. His last acquisition was in February 2022 when he bought $1.3 million of stock at $33.40 and it is interesting to see him buying more than twice this size at a price 24% higher. Ball stepped down as CFO in July after 14 years in the role but joined the board of directors.
Subsequent note: Ball’s recent purchase was amended to $1.4m, half of what was originally filed. There were no other changes, nor any changes to the stock’s rank (+1). It is still a large purchase, is into strength and Ball’s record is very good.
We are ranking the stock +1.