Gary S. Winemaster, a significant shareholder of Power Solutions International, Inc. (NASDAQ:PSIX), has sold a total of $1,000,426 worth of common stock in a series of transactions. The sales, which took place between July 23 and July 29, saw shares being sold at prices ranging from $11.60 to $12.127.
The transactions began on July 23, with Winemaster selling 5,795 shares at a price of $11.60 each. The following day, he disposed of 20,000 shares at the same price. On July 25, a series of sales were executed with varying quantities and prices: 10,000 shares at $11.75, another 10,000 shares at $11.60, 4,493 shares at $11.85, 3,289 shares at $11.86, 2,118 shares at $11.89, and a smaller batch of 100 shares at $11.88.
The selling continued on July 26 with 10,000 shares offloaded at $11.95 each and 9,105 shares at $11.90, alongside smaller sales of 130 shares at $11.95 and 100 shares at $11.86. On the final day of reporting, July 29, Winemaster sold 2,677 shares at $12.127, 1,500 shares at an even $12.00, and concluded with a sale of 5,693 shares at $11.95.
Following these transactions, Winemaster's direct holdings in Power Solutions International have been reduced to 3,232,603 shares. The sales represent a notable change in Winemaster's investment in the company, known for its engines and turbines in the industrial sector.
Investors and market watchers often pay close attention to insider sales for insights into executive sentiment about their company's stock. While the reasons for Winemaster's sales have not been disclosed, the substantial amount of stock sold could be of interest to current and potential shareholders.
InvestingPro Insights
Amidst the recent insider sales by Gary S. Winemaster at Power Solutions International, Inc. (NASDAQ:PSIX), investors may find it beneficial to consider the company's current financial standing and market performance. According to InvestingPro data, PSIX has a market capitalization of $309.48 million, and it's trading at a low P/E ratio of 10.4, suggesting that the stock might be undervalued relative to its near-term earnings growth potential.
Moreover, Power Solutions International has shown a significant return over the last week, with a 15.72% price total return, which aligns with the InvestingPro Tip highlighting the stock's strong return over the last week. This could indicate a positive market sentiment in the short term, despite the recent insider sales. Additionally, the company's stock is trading near its 52-week high, at 88.58% of the peak price, which may attract investors looking for stocks approaching their maximum yearly valuations.
For investors seeking more in-depth analysis and metrics, InvestingPro offers additional tips, including insights on shareholder yield, free cash flow yield, and price volatility. There are a total of 15 InvestingPro Tips available for PSIX at https://www.investing.com/pro/PSIX, which can provide a more comprehensive view of the company's performance and potential investment opportunities. To access these insights, users can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.