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ANTIPODES PARTNERS Ltd Buys Shares of 228,413 Power Solutions International, Inc. $PSIX

Power Solutions International logo with Auto/Tires/Trucks background
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Key Points

  • ANTIPODES PARTNERS Ltd disclosed a new fourth-quarter stake in Power Solutions International, buying 228,413 shares worth about $13.05 million. The position represents roughly 0.99% of the company.
  • Institutional interest remains notable, with several other hedge funds also adding or establishing positions in PSIX. Despite this buying, only 22.28% of shares are held by institutions and hedge funds overall.
  • The stock is facing a clear legal and sentiment overhang from an ongoing securities class action, repeated plaintiff-deadline notices, and multiple analyst downgrades. Shares opened at $38.75, well below the 52-week high of $121.78, while the average analyst rating is now Hold.
  • Interested in Power Solutions International? Here are five stocks we like better.

ANTIPODES PARTNERS Ltd acquired a new position in Power Solutions International, Inc. (NASDAQ:PSIX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 228,413 shares of the company's stock, valued at approximately $13,052,000. ANTIPODES PARTNERS Ltd owned about 0.99% of Power Solutions International at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSIX. Allspring Global Investments Holdings LLC raised its position in Power Solutions International by 59.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 328,761 shares of the company's stock valued at $20,229,000 after acquiring an additional 122,672 shares in the last quarter. Ruffer LLP bought a new position in shares of Power Solutions International in the fourth quarter valued at approximately $2,178,000. Navellier & Associates Inc. raised its position in shares of Power Solutions International by 58.6% in the fourth quarter. Navellier & Associates Inc. now owns 101,729 shares of the company's stock valued at $5,813,000 after purchasing an additional 37,569 shares during the period. Principal Financial Group Inc. bought a new position in Power Solutions International during the third quarter worth $1,588,000. Finally, Verde Servicos Internacionais S.A. acquired a new stake in Power Solutions International during the third quarter worth $1,196,000. 22.28% of the stock is currently owned by institutional investors and hedge funds.

Power Solutions International News Roundup

Here are the key news stories impacting Power Solutions International this week:

Power Solutions International Price Performance

Shares of NASDAQ:PSIX opened at $38.75 on Friday. The company has a quick ratio of 1.77, a current ratio of 3.42 and a debt-to-equity ratio of 0.55. Power Solutions International, Inc. has a twelve month low of $34.30 and a twelve month high of $121.78. The stock's 50 day moving average is $64.60 and its 200-day moving average is $68.87. The firm has a market capitalization of $893.19 million, a price-to-earnings ratio of 8.73 and a beta of 2.21.

Analysts Set New Price Targets

Several brokerages have recently commented on PSIX. Loop Capital set a $107.00 target price on shares of Power Solutions International in a research note on Wednesday, March 4th. Jefferies Financial Group reduced their price target on shares of Power Solutions International from $110.51 to $92.90 and set a "buy" rating on the stock in a research report on Tuesday, March 24th. Freedom Capital downgraded shares of Power Solutions International from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Weiss Ratings cut Power Solutions International from a "buy (b)" rating to a "hold (c+)" rating in a report on Wednesday. Finally, Wall Street Zen cut Power Solutions International from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $99.95.

Check Out Our Latest Stock Report on PSIX

Power Solutions International Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PSIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Power Solutions International, Inc. (NASDAQ:PSIX - Free Report).

Institutional Ownership by Quarter for Power Solutions International (NASDAQ:PSIX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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