Gagnon Advisors LLC Has $11.67 Million Position in Power Solutions International, Inc. $PSIX

Key Points

• Gagnon Advisors LLC reduced its position in Power Solutions International by 44.2%, holding 180,405 shares valued at approximately $11.67 million, making it the fund's second largest investment.
• Power Solutions International has received a reaffirmed "buy" rating from Weiss Ratings, with a consensus target price set at $37.00.
• Insiders, including the CFO and CEO, have sold significant portions of their stock in recent months, with a total of 211,014 shares valued at $18.77 million sold during the last quarter.

Gagnon Advisors LLC trimmed its position in shares of Power Solutions International, Inc. (NASDAQ:PSIX - Free Report) by 44.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,405 shares of the company's stock after selling 143,079 shares during the period. Power Solutions International comprises 7.8% of Gagnon Advisors LLC's portfolio, making the stock its 2nd largest position. Gagnon Advisors LLC owned 0.78% of Power Solutions International worth $11,669,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PSIX. Ritholtz Wealth Management bought a new position in shares of Power Solutions International during the first quarter valued at about $1,008,000. Spire Wealth Management raised its stake in shares of Power Solutions International by 84.5% during the first quarter. Spire Wealth Management now owns 5,984 shares of the company's stock valued at $151,000 after acquiring an additional 2,741 shares during the last quarter. D.A. Davidson & CO. bought a new position in shares of Power Solutions International during the first quarter valued at about $257,000. Burney Co. bought a new position in shares of Power Solutions International during the first quarter valued at about $857,000. Finally, Cetera Investment Advisers bought a new position in shares of Power Solutions International during the first quarter valued at about $516,000. 22.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Power Solutions International in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $37.00.

Power Solutions International Price Performance

Shares of NASDAQ PSIX opened at $84.36 on Wednesday. Power Solutions International, Inc. has a 1 year low of $15.30 and a 1 year high of $121.78. 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 company's 50-day moving average is $92.38 and its 200 day moving average is $61.94. The stock has a market capitalization of $1.94 billion, a P/E ratio of 17.54 and a beta of 1.53.

Power Solutions International (NASDAQ:PSIX - Get Free Report) last announced 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 net margin of 18.56% and a return on equity of 136.57%. The company had revenue of $191.91 million for the quarter.

Insiders Place Their Bets

In other Power Solutions International news, CFO Xun Li sold 8,000 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $92.36, for a total value of $738,880.00. Following the sale, the chief financial officer owned 221 shares in the company, valued at approximately $20,411.56. This represents a 97.31% 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 this link. Also, CEO Constantine Xykis sold 26,005 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 7,854 shares in the company, valued at approximately $752,805.90. This trade represents a 76.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 211,014 shares of company stock valued at $18,768,831. Insiders own 0.96% of the company's stock.

Power Solutions International Profile

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.