Portolan Capital Management LLC Takes Position in Power Solutions International, Inc. $PSIX

Portolan Capital Management LLC acquired a new stake in Power Solutions International, Inc. (NASDAQ:PSIX) in the third quarter, Holdings Channel.com reports. The firm acquired 195,804 shares of the company’s stock, valued at approximately $19,232,000.

Several other hedge funds also recently bought and sold shares of PSIX. Vanguard Group Inc. increased its holdings in Power Solutions International by 38.9% during the 3rd quarter. Vanguard Group Inc. now owns 502,381 shares of the company’s stock worth $49,344,000 after acquiring an additional 140,743 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Power Solutions International by 344.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 325,085 shares of the company’s stock worth $31,930,000 after purchasing an additional 251,883 shares in the last quarter. Busey Bank bought a new position in Power Solutions International in the 3rd quarter valued at $21,608,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Power Solutions International during the 3rd quarter valued at $19,001,000. Finally, Geode Capital Management LLC grew its position in shares of Power Solutions International by 102.2% during the 2nd quarter. Geode Capital Management LLC now owns 154,383 shares of the company’s stock valued at $9,987,000 after purchasing an additional 78,034 shares in the last quarter. Hedge funds and other institutional investors own 22.28% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PSIX. Jefferies Financial Group started coverage on Power Solutions International in a research note on Monday, December 1st. They issued a “buy” rating and a $110.51 target price on the stock. Loop Capital set a $107.00 target price on shares of Power Solutions International in a research report on Wednesday, March 4th. Wall Street Zen cut shares of Power Solutions International from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Power Solutions International in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $104.26.

Power Solutions International Trading Down 6.3%

Shares of PSIX stock opened at $56.74 on Friday. The business has a 50-day moving average price of $75.47 and a two-hundred day moving average price of $76.81. Power Solutions International, Inc. has a 12-month low of $18.10 and a 12-month high of $121.78. The company has a quick ratio of 1.77, a current ratio of 3.15 and a debt-to-equity ratio of 0.54. The firm has a market cap of $1.31 billion, a P/E ratio of 11.46 and a beta of 2.04.

Power Solutions International 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.