Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Christopher Harborne Sells 5,116 Shares

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 5,116 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $11.77, for a total transaction of $60,215.32. Following the completion of the transaction, the insider now owns 2,111,615 shares of the company’s stock, valued at $24,853,708.55. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 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 Tuesday, June 10th, Christopher Harborne sold 438 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $11.75, for a total value 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 value 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 value 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 transaction of $140,819.76.
• 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 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 shares were sold at an average price of $11.51, for a total transaction of $204,187.40.

Innovative Solutions and Support Stock Up 2.2%

Shares of NASDAQ ISSC opened at $12.31 on Friday. Innovative Solutions and Support, Inc. has a 52-week low of $5.25 and a 52-week high of $12.41. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.02 and a current ratio of 5.22. The stock has a market cap of $216.71 million, a P/E ratio of 32.40 and a beta of 0.88. The firm has a 50 day moving average price of $8.36 and a 200 day moving average price of $8.33.

Innovative Solutions and Support (NASDAQ:ISSC) last announced its quarterly earnings results on Wednesday, May 14th. The aerospace company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $21.94 million for the quarter, compared to analysts’ expectations of $15.37 million.

Institutional Trading of Innovative Solutions and Support

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

Wall Street Analysts Forecast Growth

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

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.