Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Christopher Harborne Sells 31,953 Shares

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 31,953 shares of Innovative Solutions and Support stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $12.25, for a total transaction of $391,424.25. Following the sale, the insider now owns 2,040,655 shares in the company, valued at approximately $24,998,023.75. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more 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 18th, Christopher Harborne sold 17,198 shares of Innovative Solutions and Support stock. The shares were 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 shares were sold at an average price of $12.77, for a total value 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 value 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 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 shares were 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 stock was 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 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 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 value of $204,187.40.

Innovative Solutions and Support Trading Up 2.2%

Shares of ISSC stock traded up $0.28 during trading hours on Monday, reaching $12.62. The company’s stock had a trading volume of 195,257 shares, compared to its average volume of 125,741. The stock has a market capitalization of $222.02 million, a P/E ratio of 20.66 and a beta of 0.88. 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 firm’s fifty day simple moving average is $9.17 and its 200 day simple moving average is $8.54. Innovative Solutions and Support, Inc. has a one year low of $5.25 and a one year high of $13.40.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Innovative Solutions and Support

Several hedge funds have recently bought and sold shares of ISSC. American Century Companies Inc. bought a new position in Innovative Solutions and Support in the 1st quarter valued at $64,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Innovative Solutions and Support in the fourth quarter worth about $89,000. Arrowstreet Capital Limited Partnership purchased a new position in Innovative Solutions and Support during the fourth quarter valued at approximately $107,000. Sterneck Capital Management LLC acquired a new stake in Innovative Solutions and Support in the first quarter valued at approximately $112,000. Finally, XTX Topco Ltd acquired a new stake in shares of Innovative Solutions and Support in the fourth quarter worth approximately $119,000. 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.