Spire Wealth Management Lowers Stock Holdings in Power Solutions International, Inc. $PSIX

Spire Wealth Management decreased its position in shares of Power Solutions International, Inc. (NASDAQ:PSIX) by 24.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,511 shares of the company’s stock after selling 1,473 shares during the quarter. Spire Wealth Management’s holdings in Power Solutions International were worth $292,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wolff Wiese Magana LLC purchased a new position in shares of Power Solutions International during the 2nd quarter valued at $26,000. Vestcor Inc purchased a new position in shares of Power Solutions International during the 1st quarter valued at $29,000. Farther Finance Advisors LLC lifted its stake in shares of Power Solutions International by 88.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,651 shares of the company’s stock valued at $107,000 after buying an additional 773 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Power Solutions International in the 1st quarter worth $112,000. Finally, EntryPoint Capital LLC purchased a new stake in Power Solutions International in the 1st quarter worth $205,000. Hedge funds and other institutional investors own 22.28% of the company’s stock.

Power Solutions International Trading Up 4.0%

Shares of PSIX stock opened at $89.07 on Tuesday. Power Solutions International, Inc. has a 12-month low of $15.30 and a 12-month high of $121.78. The company has a current ratio of 1.26, a quick ratio of 0.65 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average price is $91.34 and its 200-day moving average price is $70.73. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 18.52 and a beta of 1.53.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Power Solutions International in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $37.00.

Insider Activity

In other news, Director Frank P. Simpkins sold 10,000 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $91.64, for a total transaction of $916,400.00. Following the sale, the director directly owned 25,000 shares in the company, valued at approximately $2,291,000. This represents a 28.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Constantine Xykis sold 26,005 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $95.85, for a total transaction of $2,492,579.25. Following the sale, the chief executive officer owned 7,854 shares in the company, valued at $752,805.90. This represents a 76.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 211,014 shares of company stock worth $18,768,831. 0.96% of the stock is owned by insiders.

Power Solutions International Company 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.