Aviance Capital Partners LLC Makes New Investment in Power Solutions International, Inc. $PSIX

Aviance Capital Partners LLC bought a new position in Power Solutions International, Inc. (NASDAQ:PSIX) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 3,760 shares of the company’s stock, valued at approximately $243,000.

Several other hedge funds have also made changes to their positions in PSIX. Independent Advisor Alliance purchased a new position in Power Solutions International during the first quarter valued at approximately $1,086,000. Ritholtz Wealth Management increased its holdings in Power Solutions International by 2.6% during the second quarter. Ritholtz Wealth Management now owns 40,873 shares of the company’s stock valued at $2,644,000 after buying an additional 1,018 shares during the period. Navellier & Associates Inc. purchased a new position in Power Solutions International during the first quarter valued at approximately $1,104,000. Corsair Capital Management L.P. increased its holdings in Power Solutions International by 129.8% during the first quarter. Corsair Capital Management L.P. now owns 36,767 shares of the company’s stock valued at $929,000 after buying an additional 20,767 shares during the period. Finally, Burney Co. bought a new position in shares of Power Solutions International in the 1st quarter worth $857,000. 22.28% of the stock is currently owned by hedge funds and other institutional investors.

Power Solutions International Trading Up 3.2%

Shares of NASDAQ:PSIX opened at $85.62 on Friday. The business’s 50-day moving average is $91.33 and its 200 day moving average is $69.95. Power Solutions International, Inc. has a 1 year low of $15.30 and a 1 year high of $121.78. The firm has a market capitalization of $1.97 billion, a P/E ratio of 17.80 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.26 and a quick ratio of 0.65.

Power Solutions International (NASDAQ:PSIX) last announced its earnings results on Thursday, August 7th. The company reported $2.23 earnings per share (EPS) for the quarter. Power Solutions International had a return on equity of 136.57% and a net margin of 18.56%.The company had revenue of $191.91 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Power Solutions International in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Power Solutions International currently has a consensus rating of “Buy” and an average target price of $37.00.

Insider Activity at Power Solutions International

In other news, major shareholder America Corp. Weichai sold 79,839 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $93.46, for a total value of $7,461,752.94. Following the transaction, the insider directly owned 10,599,759 shares of the company’s stock, valued at approximately $990,653,476.14. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank P. Simpkins sold 10,000 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $91.64, for a total value of $916,400.00. Following the completion of the transaction, the director directly owned 25,000 shares in the company, valued at $2,291,000. This represents a 28.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 211,014 shares of company stock worth $18,768,831 over the last ninety days. Corporate insiders own 0.96% of the company’s stock.

About Power Solutions International

Power Solutions International, Inc engages in the design, manufacture, and trade of power systems and electrical power generation equipment. The firm provides integrated turnkey solutions to global original equipment manufacturers and end-user customers within the energy, industrial, and transportation end markets.