GK Wealth Management LLC Acquires New Shares in Power Solutions International, Inc. $PSIX

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 shares of Power Solutions International, Inc. (NASDAQ:PSIX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,085 shares of the company's stock, valued at approximately $329,000.

A number of other institutional investors have also recently bought and sold shares of the company. Independent Advisor Alliance acquired a new stake in Power Solutions International during the first quarter valued at $1,086,000. Ritholtz Wealth Management bought a new position in Power Solutions International during the first quarter valued at about $1,008,000. Navellier & Associates Inc. bought a new position in Power Solutions International during the first quarter valued at about $1,104,000. Corsair Capital Management L.P. raised its holdings in Power Solutions International by 129.8% during the first quarter. Corsair Capital Management L.P. now owns 36,767 shares of the company's stock valued at $929,000 after buying an additional 20,767 shares in the last quarter. Finally, Burney Co. bought a new position in Power Solutions International during the first quarter valued at about $857,000. Institutional investors and hedge funds own 22.28% of the company's stock.

Power Solutions International Price Performance

NASDAQ PSIX opened at $94.41 on Monday. Power Solutions International, Inc. has a fifty-two week low of $15.30 and a fifty-two week high of $121.78. The stock's 50-day moving average is $85.51 and its two-hundred day moving average is $53.76. 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 firm has a market cap of $2.17 billion, a P/E ratio of 19.63 and a beta of 1.58.

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

Insider Activity 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 dated Monday, August 25th. The stock was sold at an average price of $91.64, for a total transaction of $916,400.00. Following the transaction, the director directly owned 25,000 shares in the company, valued at $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 available at the SEC website. Also, major shareholder America Corp. Weichai sold 79,670 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $81.08, for a total value of $6,459,643.60. Following the transaction, the insider owned 11,006,951 shares in the company, valued at approximately $892,443,587.08. This trade represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,175 shares of company stock valued at $11,307,078. 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.

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