Bay Rivers Group Buys New Stake in Power Solutions International, Inc. $PSIX

Key Points

• Bay Rivers Group invested $233,000 in Power Solutions International, acquiring 3,600 shares in the 2nd quarter, reflecting increasing interest from institutional investors.
• Insider selling was noted, with Director Frank P. Simpkins selling 10,000 shares for over $916,000, indicating a 28.57% decrease in his ownership.
• Power Solutions International reported a strong quarterly performance with $2.23 EPS and revenues of $191.91 million, alongside strong margins and return on equity.

Bay Rivers Group purchased a new position in Power Solutions International, Inc. (NASDAQ:PSIX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,600 shares of the company's stock, valued at approximately $233,000.

Several other institutional investors and hedge funds have also bought and sold shares of PSIX. Independent Advisor Alliance purchased a new position in Power Solutions International in the first quarter worth $1,086,000. Ritholtz Wealth Management purchased a new position in Power Solutions International in the first quarter worth $1,008,000. Navellier & Associates Inc. purchased a new position in Power Solutions International in the first quarter worth $1,104,000. Burney Co. purchased a new position in Power Solutions International in the first quarter worth $857,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Power Solutions International in the first quarter worth $782,000. 22.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Power Solutions International

In other news, major shareholder America Corp. Weichai sold 79,839 shares of Power Solutions International stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $93.46, for a total transaction of $7,461,752.94. Following the completion of the sale, the insider directly owned 10,599,759 shares in the company, valued at approximately $990,653,476.14. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Constantine Xykis sold 26,005 shares of Power Solutions International stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $95.85, for a total transaction of $2,492,579.25. Following the sale, the chief executive officer owned 7,854 shares of the company's stock, valued at $752,805.90. The trade was a 76.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 211,014 shares of company stock valued at $18,768,831. Company insiders own 0.96% of the company's stock.

Power Solutions International Stock Up 3.6%

NASDAQ PSIX traded up $3.78 on Friday, hitting $109.98. The stock had a trading volume of 982,969 shares, compared to its average volume of 651,103. Power Solutions International, Inc. has a 52-week low of $15.30 and a 52-week high of $121.78. The business's fifty day moving average price is $88.80 and its 200 day moving average price is $55.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.26 and a quick ratio of 0.65. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 22.86 and a beta of 1.58.

Power Solutions International (NASDAQ:PSIX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $2.23 EPS for the quarter. Power Solutions International had a net margin of 18.56% and a return on equity of 136.57%. The business had revenue of $191.91 million during the quarter.

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.