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

Several other large investors also recently modified their holdings of the company. Vestcor Inc acquired a new stake in shares of Power Solutions International during the first quarter worth $29,000. Spire Wealth Management boosted its stake in Power Solutions International by 84.5% during the first quarter. Spire Wealth Management now owns 5,984 shares of the company's stock worth $151,000 after acquiring an additional 2,741 shares in the last quarter. Heck Capital Advisors LLC bought a new position in Power Solutions International during the fourth quarter worth $94,000. Acadian Asset Management LLC bought a new position in Power Solutions International during the first quarter worth $112,000. Finally, GK Wealth Management LLC bought a new position in Power Solutions International during the second quarter worth $329,000. 22.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Power Solutions International

In other Power Solutions International news, Director Frank P. Simpkins sold 10,000 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $91.64, for a total value of $916,400.00. Following the transaction, the director directly owned 25,000 shares of the company's stock, valued at approximately $2,291,000. This trade represents a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder America Corp. Weichai sold 79,839 shares of the firm's 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 transaction, the insider directly owned 10,599,759 shares in the company, valued at $990,653,476.14. This trade represents a 0.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 211,014 shares of company stock valued at $18,768,831 over the last 90 days. Insiders own 0.96% of the company's stock.

Power Solutions International Stock Up 1.2%

Shares of NASDAQ PSIX opened at $95.53 on Tuesday. The firm has a market cap of $2.20 billion, a PE ratio of 19.86 and a beta of 1.58. Power Solutions International, Inc. has a 12-month low of $15.30 and a 12-month high of $121.78. The company's fifty day simple moving average is $85.95 and its 200 day simple moving average is $54.19. The company has a quick ratio of 0.65, a current ratio of 1.26 and a debt-to-equity ratio of 0.01.

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

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.