5,085 Shares in Power Solutions International, Inc. $PSIX Acquired by GK Wealth Management LLC

Key Points

• GK Wealth Management LLC acquired a new stake in Power Solutions International, purchasing 5,085 shares valued at approximately $329,000 in the second quarter.
• Power Solutions International reported earnings of $2.23 per share for the last quarter, along with a return on equity of 136.57% and revenue of $191.91 million.
• Insider activity includes Director Frank P. Simpkins selling 10,000 shares valued at $916,400, marking a 28.57% decrease in their ownership of the company stock.

GK Wealth Management LLC acquired a new stake in Power Solutions International, Inc. (NASDAQ:PSIX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,085 shares of the company's stock, valued at approximately $329,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PSIX. Vestcor Inc purchased a new stake in shares of Power Solutions International during the first quarter worth about $29,000. Heck Capital Advisors LLC purchased a new stake in shares of Power Solutions International during the fourth quarter worth about $94,000. Acadian Asset Management LLC purchased a new stake in shares of Power Solutions International during the first quarter worth about $112,000. Spire Wealth Management increased its position 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 worth $151,000 after acquiring an additional 2,741 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Power Solutions International during the first quarter worth about $205,000. 22.28% of the stock is owned by hedge funds and other institutional investors.

Power Solutions International Stock Up 3.4%

NASDAQ:PSIX traded up $3.57 during mid-day trading on Friday, reaching $109.77. The stock had a trading volume of 439,700 shares, compared to its average volume of 471,012. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 22.82 and a beta of 1.58. Power Solutions International, Inc. has a 1-year low of $15.30 and a 1-year high of $121.78. The stock's 50 day simple moving average is $88.04 and its two-hundred day simple moving average is $55.34. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.26 and a quick ratio of 0.65.

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

Insider Activity at Power Solutions International

In other Power Solutions International news, major shareholder America Corp. Weichai sold 79,839 shares of the 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 sale, the insider directly owned 10,599,759 shares of the company's stock, valued at approximately $990,653,476.14. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Constantine Xykis sold 26,005 shares of Power Solutions International stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $95.85, for a total value of $2,492,579.25. Following the completion of the transaction, 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. Insiders sold 211,014 shares of company stock valued at $18,768,831 in the last ninety days. 0.96% of the stock is owned by insiders.

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.