ARGA Investment Management LP Buys New Position in Power Solutions International, Inc. $PSIX

ARGA Investment Management LP bought a new position in shares of Power Solutions International, Inc. (NASDAQ:PSIX) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,238 shares of the company’s stock, valued at approximately $989,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Truvestments Capital LLC lifted its stake in Power Solutions International by 3.9% in the fourth quarter. Truvestments Capital LLC now owns 3,039 shares of the company’s stock valued at $174,000 after buying an additional 114 shares during the period. Creative Planning grew its position in shares of Power Solutions International by 1.8% during the 3rd quarter. Creative Planning now owns 10,819 shares of the company’s stock worth $1,063,000 after buying an additional 196 shares during the period. Russell Investments Group Ltd. grew its position in shares of Power Solutions International by 1.7% during the 4th quarter. Russell Investments Group Ltd. now owns 15,025 shares of the company’s stock worth $859,000 after buying an additional 249 shares during the period. Sequent Planning LLC increased its stake in shares of Power Solutions International by 4.2% in the 1st quarter. Sequent Planning LLC now owns 6,423 shares of the company’s stock valued at $391,000 after acquiring an additional 260 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Power Solutions International by 2,672.7% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 305 shares of the company’s stock valued at $30,000 after acquiring an additional 294 shares in the last quarter. 22.28% of the stock is currently owned by institutional investors.

Power Solutions International Stock Down 0.5%

PSIX stock opened at $34.52 on Friday. The stock’s 50 day simple moving average is $42.78 and its 200 day simple moving average is $61.53. The company has a market cap of $795.69 million, a P/E ratio of 7.77 and a beta of 2.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.81 and a current ratio of 3.42. Power Solutions International, Inc. has a fifty-two week low of $33.33 and a fifty-two week high of $121.78.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PSIX. Weiss Ratings downgraded shares of Power Solutions International from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Freedom Capital cut shares of Power Solutions International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Finally, Jefferies Financial Group decreased their price target on shares of Power Solutions International from $110.51 to $92.90 and set a “buy” rating for the company in a research note on Tuesday, March 24th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $99.95.

About Power Solutions International

Power Solutions International, Inc is a global designer and manufacturer of integrated powertrain solutions for commercial vehicle, industrial and military applications. Headquartered in Wood Dale, Illinois, the company develops and assembles advanced diesel engine and transmission packages under the Atlas® brand, combining proprietary engine technology with high-efficiency transmissions to deliver power-dense systems. These solutions are tailored for medium- and heavy-duty trucks, buses, construction equipment, generator sets and specialty vehicles.

In addition to complete powertrain systems, the company offers a broad range of component products including diesel engines, transmissions and aftertreatment modules.