Insider Selling: Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells 89,414 Shares of Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 89,414 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $12.50, for a total value of $1,117,675.00. Following the completion of the sale, the insider now owns 1,951,241 shares in the company, valued at $24,390,512.50. The trade was a 4.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, June 20th, Christopher Harborne sold 31,953 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $12.25, for a total value of $391,424.25.
• On Wednesday, June 18th, Christopher Harborne sold 17,198 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $12.28, for a total value of $211,191.44.
• On Tuesday, June 17th, Christopher Harborne sold 21,809 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $12.77, for a total transaction of $278,500.93.
• On Wednesday, June 11th, Christopher Harborne sold 5,116 shares of Innovative Solutions and Support stock. The shares were 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 shares were 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 shares were sold at an average price of $11.79, for a total value 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 value of $513,444.99.
• On Tuesday, June 3rd, Christopher Harborne sold 6,766 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $11.50, for a total value of $77,809.00.

Innovative Solutions and Support Stock Performance

ISSC traded up $0.47 during mid-day trading on Tuesday, reaching $13.12. 254,109 shares of the company traded hands, compared to its average volume of 126,746. The company’s fifty day moving average price is $9.30 and its 200-day moving average price is $8.57. The stock has a market capitalization of $230.91 million, a P/E ratio of 21.51 and a beta of 0.88. The company has a quick ratio of 2.66, a current ratio of 4.87 and a debt-to-equity ratio of 0.51. Innovative Solutions and Support, Inc. has a 52-week low of $5.25 and a 52-week high of $13.40.

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

Institutional Investors Weigh In On Innovative Solutions and Support

Large investors have recently made changes to their positions in the company. American Century Companies Inc. purchased a new position in shares of Innovative Solutions and Support in the first quarter worth approximately $64,000. Schonfeld Strategic Advisors LLC purchased a new stake in Innovative Solutions and Support during the fourth quarter valued at approximately $89,000. Arrowstreet Capital Limited Partnership bought a new position in Innovative Solutions and Support in the fourth quarter worth approximately $107,000. Sterneck Capital Management LLC purchased a new position in shares of Innovative Solutions and Support during the 1st quarter worth $112,000. Finally, XTX Topco Ltd purchased a new position in shares of Innovative Solutions and Support during the 4th quarter worth $119,000. 28.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.