Corsair Capital Management L.P. Acquires 20,767 Shares of Power Solutions International, Inc. $PSIX

Key Points

• Corsair Capital Management L.P. increased its stake in Power Solutions International by 129.8%, acquiring an additional 20,767 shares, bringing their total holding to 36,767 shares worth approximately $929,000.
• Major shareholder America Corp. Weichai sold 79,670 shares of Power Solutions International stock at an average price of $81.08, while CEO Constantine Xykis sold 26,005 shares at around $95.85, representing significant decreases in their ownership.
• Power Solutions International reported $2.23 earnings per share for its last quarter, alongside a return on equity of 136.57% and a net margin of 18.56% from revenues of $191.91 million.

Corsair Capital Management L.P. lifted its holdings in Power Solutions International, Inc. (NASDAQ:PSIX - Free Report) by 129.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,767 shares of the company's stock after buying an additional 20,767 shares during the quarter. Corsair Capital Management L.P. owned about 0.16% of Power Solutions International worth $929,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN bought a new position in shares of Power Solutions International in the fourth quarter valued at about $33,000. Vestcor Inc bought a new position in shares of Power Solutions International in the first quarter valued at about $29,000. Heck Capital Advisors LLC bought a new position in shares of Power Solutions International in the fourth quarter valued at about $94,000. Spire Wealth Management raised its holdings in shares of Power Solutions International by 84.5% in the first quarter. Spire Wealth Management now owns 5,984 shares of the company's stock valued at $151,000 after buying an additional 2,741 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of Power Solutions International in the first quarter valued at about $205,000. 22.28% of the stock is owned by institutional investors.

Insider Transactions at Power Solutions International

In related news, major shareholder America Corp. Weichai sold 79,670 shares of Power Solutions International stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $81.08, for a total value of $6,459,643.60. Following the completion of the sale, the insider directly owned 11,006,951 shares in the company, valued at $892,443,587.08. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Constantine Xykis sold 26,005 shares of Power Solutions International stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $95.85, for a total value of $2,492,579.25. Following the completion of the sale, the chief executive officer owned 7,854 shares of the company's stock, valued at approximately $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. Over the last 90 days, insiders sold 131,175 shares of company stock valued at $11,307,078. 0.96% of the stock is currently owned by insiders.

Power Solutions International Stock Performance

Power Solutions International stock opened at $84.90 on Friday. The stock has a 50-day simple moving average of $81.01 and a 200 day simple moving average of $49.61. 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, Inc. has a 12-month low of $15.30 and a 12-month high of $121.78. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 17.65 and a beta of 1.47.

Power Solutions International (NASDAQ:PSIX - Get Free Report) last released its quarterly 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 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.

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