World Equity Group Inc. Makes New Investment in Power Solutions International Inc (NASDAQ:PSIX)

World Equity Group Inc. bought a new position in Power Solutions International Inc (NASDAQ:PSIX) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 17,794 shares of the company’s stock, valued at approximately $529,000.

Several other large investors have also recently added to or reduced their stakes in PSIX. Heck Capital Advisors LLC acquired a new stake in Power Solutions International in the fourth quarter worth $94,000. Spire Wealth Management acquired a new position in shares of Power Solutions International during the fourth quarter valued at $96,000. Astoria Portfolio Advisors LLC. acquired a new position in shares of Power Solutions International during the fourth quarter valued at $216,000. Evernest Financial Advisors LLC acquired a new position in shares of Power Solutions International during the fourth quarter valued at $223,000. Finally, Thompson Davis & CO. Inc. acquired a new position in shares of Power Solutions International during the fourth quarter valued at $251,000. 22.28% of the stock is owned by institutional investors and hedge funds.

Power Solutions International Trading Down 8.7 %

Shares of PSIX opened at $32.50 on Monday. The firm has a market cap of $747.50 million, a PE ratio of 13.77 and a beta of 1.03. Power Solutions International Inc has a one year low of $1.89 and a one year high of $45.74.

Insider Activity

In other news, major shareholder Gary S. Winemaster sold 17,461 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $26.26, for a total transaction of $458,525.86. Following the transaction, the insider now directly owns 3,053,551 shares of the company’s stock, valued at approximately $80,186,249.26. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 50,625 shares of company stock valued at $1,683,476. Company insiders own 0.60% of the company’s stock.

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.