Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells $278,500.93 in Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 21,809 shares of the business’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $12.77, for a total transaction of $278,500.93. Following the sale, the insider now directly owns 2,089,806 shares of the company’s stock, valued at $26,686,822.62. This represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, June 11th, Christopher Harborne sold 5,116 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.77, for a total transaction of $60,215.32.
• On Tuesday, June 10th, Christopher Harborne sold 438 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.75, for a total transaction of $5,146.50.
• On Monday, June 9th, Christopher Harborne sold 63,592 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.78, for a total transaction of $749,113.76.
• On Friday, June 6th, Christopher Harborne sold 35,437 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.76, for a total transaction of $416,739.12.
• On Thursday, June 5th, Christopher Harborne sold 11,944 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.79, for a total transaction of $140,819.76.
• On Wednesday, June 4th, Christopher Harborne sold 43,997 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.67, for a total transaction 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 transaction of $204,187.40.

Innovative Solutions and Support Price Performance

NASDAQ ISSC opened at $12.35 on Thursday. Innovative Solutions and Support, Inc. has a 52 week low of $5.25 and a 52 week high of $13.40. The company has a current ratio of 4.87, a quick ratio of 2.66 and a debt-to-equity ratio of 0.51. The stock has a market cap of $217.36 million, a price-to-earnings ratio of 20.25 and a beta of 0.89. The company has a 50-day moving average price of $8.91 and a two-hundred day moving average price of $8.47.

Innovative Solutions and Support (NASDAQ:ISSC) last posted its quarterly earnings data on Wednesday, May 14th. The aerospace company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.18. The business had revenue of $21.94 million during the quarter, compared to analysts’ expectations of $15.37 million. Innovative Solutions and Support had a net margin of 16.61% and a return on equity of 24.37%.

Institutional Trading of Innovative Solutions and Support

A number of large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its position in Innovative Solutions and Support by 53.5% in the 1st quarter. Jane Street Group LLC now owns 48,250 shares of the aerospace company’s stock worth $303,000 after buying an additional 16,808 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its position in Innovative Solutions and Support by 68.0% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 210,000 shares of the aerospace company’s stock worth $1,321,000 after buying an additional 85,000 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Innovative Solutions and Support in the 1st quarter worth approximately $523,000. Teton Advisors Inc. lifted its position in Innovative Solutions and Support by 48.9% in the 1st quarter. Teton Advisors Inc. now owns 137,000 shares of the aerospace company’s stock worth $862,000 after buying an additional 45,000 shares in the last quarter. Finally, Gabelli Funds LLC lifted its position in Innovative Solutions and Support by 39.0% in the 1st quarter. Gabelli Funds LLC now owns 87,000 shares of the aerospace company’s stock worth $547,000 after buying an additional 24,415 shares in the last quarter. 28.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ISSC has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Innovative Solutions and Support from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. Singular Research upgraded shares of Innovative Solutions and Support to a “strong-buy” rating in a research note on Friday, May 16th.

About Innovative Solutions and Support

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.