Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells $211,191.44 in Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 17,198 shares of Innovative Solutions and Support stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $12.28, for a total value of $211,191.44. Following the completion of the sale, the insider now owns 2,072,608 shares in the company, valued at approximately $25,451,626.24. This represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• 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 value of $278,500.93.
• 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 value of $60,215.32.
• 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 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 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 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 shares were sold at an average price of $11.51, for a total value of $204,187.40.

Innovative Solutions and Support Stock Down 0.1%

Shares of NASDAQ:ISSC opened at $12.34 on Friday. The stock has a fifty day simple moving average of $9.17 and a two-hundred day simple moving average of $8.53. The stock has a market capitalization of $217.18 million, a price-to-earnings ratio of 20.23 and a beta of 0.89. Innovative Solutions and Support, Inc. has a 12-month low of $5.25 and a 12-month 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.

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. 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 return on equity of 24.37% and a net margin of 16.61%.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

Several research firms recently weighed in on ISSC. Wall Street Zen upgraded 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 research note 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.