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 firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $11.79, for a total value of $140,819.76. Following the sale, the insider now directly owns 2,216,198 shares of the company’s stock, valued at approximately $26,128,974.42. This represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases 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 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 shares were sold at an average price of $11.50, for a total value 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 Stock Up 0.6%

Shares of NASDAQ:ISSC opened at $11.76 on Monday. The company has a market capitalization of $207.02 million, a PE ratio of 30.95 and a beta of 0.89. The company’s fifty day moving average is $7.88 and its 200-day moving average is $8.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.02 and a current ratio of 5.22. Innovative Solutions and Support, Inc. has a 52 week low of $5.25 and a 52 week high of $12.17.

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 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 during the quarter, compared to analysts’ expectations of $15.37 million.

Analyst Ratings Changes

Several research firms have commented on ISSC. 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 upgraded shares of Innovative Solutions and Support from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st.

Institutional Trading of Innovative Solutions and Support

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

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.