Platinum Investment Management Ltd. Buys New Shares in Power Solutions International, Inc. $PSIX

Platinum Investment Management Ltd. bought a new stake in shares of Power Solutions International, Inc. (NASDAQ:PSIX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $1,143,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. California State Teachers Retirement System acquired a new stake in Power Solutions International during the second quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd lifted its stake in Power Solutions International by 2,672.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 294 shares during the last quarter. State of Wyoming acquired a new stake in Power Solutions International during the fourth quarter valued at approximately $49,000. Indiana Trust & Investment Management Co acquired a new stake in Power Solutions International during the fourth quarter valued at approximately $57,000. Finally, Acadian Asset Management LLC acquired a new stake in Power Solutions International during the first quarter valued at approximately $112,000. 22.28% of the stock is owned by institutional investors and hedge funds.

Power Solutions International Trading Up 0.3%

Power Solutions International stock opened at $40.72 on Friday. The company has a 50 day moving average price of $57.67 and a 200 day moving average price of $64.64. Power Solutions International, Inc. has a 52 week low of $35.77 and a 52 week high of $121.78. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.81 and a current ratio of 3.42. The firm has a market capitalization of $938.60 million, a price-to-earnings ratio of 9.17 and a beta of 2.00.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PSIX shares. Loop Capital set a $107.00 target price on shares of Power Solutions International in a research note on Wednesday, March 4th. Wall Street Zen lowered shares of Power Solutions International from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Freedom Capital lowered shares of Power Solutions International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Weiss Ratings lowered shares of Power Solutions International from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group decreased their target price on shares of Power Solutions International from $110.51 to $92.90 and set a “buy” rating for the company in a report on Tuesday, March 24th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $99.95.

Power Solutions International Company Profile

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.