Perigon Wealth Management LLC Takes $322,000 Position in Power Solutions International, Inc. $PSIX

Key Points

• Perigon Wealth Management LLC initiated a new position in Power Solutions International, Inc. by purchasing 4,979 shares, valued at approximately $322,000.
• Insider transactions included CFO Xun Li selling 8,000 shares, representing a 97.31% decrease in their ownership, while Director Hong He and other insiders have also sold a significant number of shares.
• Power Solutions International has reported $191.91 million in revenue for the last quarter and a return on equity of 136.57%.

Perigon Wealth Management LLC purchased a new position in Power Solutions International, Inc. (NASDAQ:PSIX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,979 shares of the company's stock, valued at approximately $322,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its position in Power Solutions International by 88.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,651 shares of the company's stock worth $107,000 after buying an additional 773 shares in the last quarter. Vestcor Inc acquired a new position in shares of Power Solutions International in the first quarter worth $29,000. Spire Wealth Management raised its holdings 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 in the last quarter. Bay Rivers Group purchased a new stake in shares of Power Solutions International during the second quarter worth $233,000. Finally, Acadian Asset Management LLC acquired a new stake in Power Solutions International during the first quarter valued at $112,000. 22.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Power Solutions International

In other Power Solutions International news, CFO Xun Li sold 8,000 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $92.36, for a total value of $738,880.00. Following the completion of the sale, the chief financial officer directly owned 221 shares of the company's stock, valued at $20,411.56. The trade was a 97.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Hong He sold 2,500 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $90.03, for a total transaction of $225,075.00. Following the transaction, the director owned 26,250 shares in the company, valued at approximately $2,363,287.50. This trade represents a 8.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 211,014 shares of company stock valued at $18,768,831. Insiders own 0.96% of the company's stock.

Power Solutions International Stock Performance

Shares of NASDAQ PSIX opened at $98.22 on Wednesday. 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, Inc. has a one year low of $15.30 and a one year high of $121.78. The business's 50-day moving average price is $92.35 and its two-hundred day moving average price is $59.94. The company has a market capitalization of $2.26 billion, a P/E ratio of 20.42 and a beta of 1.58.

Power Solutions International (NASDAQ:PSIX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $2.23 earnings per share for the quarter. The company 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%.

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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