Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells $140,819.76 in Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 11,944 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $11.79, for a total transaction of $140,819.76. Following the sale, the insider now directly owns 2,216,198 shares in the company, valued at approximately $26,128,974.42. The trade was a 0.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Christopher Harborne also recently made the following trade(s):

• On Wednesday, June 4th, Christopher Harborne sold 43,997 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $11.67, for a total value of $513,444.99.
• On Tuesday, June 3rd, Christopher Harborne sold 6,766 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.50, for a total transaction of $77,809.00.
• On Monday, June 2nd, Christopher Harborne sold 17,740 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.51, for a total value of $204,187.40.

Innovative Solutions and Support Price Performance

Innovative Solutions and Support stock opened at $11.76 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 5.22 and a quick ratio of 3.02. Innovative Solutions and Support, Inc. has a one year low of $5.25 and a one year high of $12.17. The firm has a market capitalization of $207.02 million, a P/E ratio of 30.95 and a beta of 0.89. The business has a fifty day moving average price of $7.88 and a 200-day moving average price of $8.22.

Innovative Solutions and Support (NASDAQ:ISSC) last released its quarterly earnings results on Wednesday, May 14th. The aerospace company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.18. Innovative Solutions and Support had a net margin of 12.40% and a return on equity of 16.80%. The firm had revenue of $21.94 million for the quarter, compared to analysts’ expectations of $15.37 million.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ISSC shares. Singular Research raised shares of Innovative Solutions and Support to a “strong-buy” rating in a research report on Friday, May 16th. Wall Street Zen raised Innovative Solutions and Support from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ISSC. Ameriprise Financial Inc. bought a new position in shares of Innovative Solutions and Support during the fourth quarter valued at about $389,000. Mesirow Financial Investment Management Inc. raised its stake in Innovative Solutions and Support by 100.0% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 119,880 shares of the aerospace company’s stock valued at $1,024,000 after buying an additional 59,940 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Innovative Solutions and Support in the 4th quarter worth about $269,000. Renaissance Technologies LLC raised its holdings in Innovative Solutions and Support by 18.5% in the fourth quarter. Renaissance Technologies LLC now owns 480,659 shares of the aerospace company’s stock worth $4,105,000 after buying an additional 75,100 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Innovative Solutions and Support by 32.2% in the 4th quarter. Northern Trust Corp now owns 45,043 shares of the aerospace company’s stock worth $385,000 after acquiring an additional 10,961 shares during the last quarter. 28.53% of the stock is currently owned by institutional investors.

Innovative Solutions and Support Company Profile

Innovative Solutions and Support, Inc, a systems integrator, designs, develops, manufactures, sells, and services flight guidance, autothrottles, and cockpit display systems in the United States and internationally. It offers flat panel display systems that replicate the display of analog or digital displays on one screen and replace existing displays in legacy aircraft, as well as used for security monitoring on-board aircraft and as tactical workstations on military aircraft; and flight deck management system, a navigation and performance computer that upgrade for commercial air transport aircraft.