Platinum Investment Management Ltd. Makes New Investment in Power Solutions International, Inc. $PSIX

Platinum Investment Management Ltd. bought a new position in Power Solutions International, Inc. (NASDAQ:PSIX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $1,143,000. Platinum Investment Management Ltd. owned about 0.09% of Power Solutions International at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in Power Solutions International by 59.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 328,761 shares of the company’s stock worth $20,229,000 after purchasing an additional 122,672 shares during the last quarter. Navellier & Associates Inc. grew its position in Power Solutions International by 58.6% in the 4th quarter. Navellier & Associates Inc. now owns 101,729 shares of the company’s stock worth $5,813,000 after purchasing an additional 37,569 shares during the last quarter. Ruffer LLP bought a new position in Power Solutions International in the 4th quarter worth about $2,178,000. Principal Financial Group Inc. bought a new position in Power Solutions International in the 3rd quarter worth about $1,588,000. Finally, Portolan Capital Management LLC bought a new position in Power Solutions International in the 3rd quarter worth about $19,232,000. Institutional investors own 22.28% of the company’s stock.

Power Solutions International Trading Up 0.3%

Power Solutions International stock opened at $40.72 on Friday. The firm has a 50 day simple moving average of $57.67 and a 200-day simple moving average of $64.64. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.42 and a quick ratio of 1.81. The stock has a market capitalization of $938.60 million, a PE ratio of 9.17 and a beta of 2.00. Power Solutions International, Inc. has a 12-month low of $35.77 and a 12-month high of $121.78.

Analysts Set New Price Targets

Several research firms have commented on PSIX. Jefferies Financial Group decreased their target price on shares of Power Solutions International from $110.51 to $92.90 and set a “buy” rating for the company in a research report on Tuesday, March 24th. Wall Street Zen cut shares of Power Solutions International from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Loop Capital set a $107.00 price objective on shares of Power Solutions International in a report on Wednesday, March 4th. Weiss Ratings cut shares of Power Solutions International from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Finally, Freedom Capital cut shares of Power Solutions International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Power Solutions International currently has an average rating of “Hold” and an average price target of $99.95.

About Power Solutions International

Power Solutions International, Inc is a global designer and manufacturer of integrated powertrain solutions for commercial vehicle, industrial and military applications. Headquartered in Wood Dale, Illinois, the company develops and assembles advanced diesel engine and transmission packages under the Atlas® brand, combining proprietary engine technology with high-efficiency transmissions to deliver power-dense systems. These solutions are tailored for medium- and heavy-duty trucks, buses, construction equipment, generator sets and specialty vehicles.

In addition to complete powertrain systems, the company offers a broad range of component products including diesel engines, transmissions and aftertreatment modules.